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WEEKLY WORKFLOW: Bills & Invoices

Weekly Workflow: Bills Payment and Tenant Invoicing | STAFFLINK
19 May 2020 Stafflink

Bills payment and tenant invoicing on behalf of your clients are no longer considered an additional service, but rather a standard inclusion for all real estate companies.

It is important to have a clearly defined workflow around this process to ensure that we are meeting the clients expectations and providing transparency.

For most real estate companies, this process can be time consuming, bills can be missed for payment and tenants may not be invoiced in the correct time frame for owners to be reimbursed under state legislation.

We have developed the below workflow which delivers consistency, transparency and most importantly, gives you back your valuable time.

How Can STAFFLINK Help You With Your Bills And Invoices?

Time spent per month per 100 bills and invoices processing task

PM receives and approves the bill
Less than a minute per file | 100 bills = 50 minutes approximately

PM/Accounts Person receives the bill through their inbox and approves it by uploading it on the folder named accordingly to what is the payment instructions for it e.g. Pay From Owner.

Cross check bill details and rename PDF file
1 minute per file | 100 bills = 1 hour and 40 minutes

Cross reference details of the bill to ensure accuracy. This includes; checking owner details, address and tenancy details – eg for water bills, is the tenant responsible for the whole billing period, or only a portion of it. The information on the bill will also be used to create a unique naming convention.

Move the bills to “processed” folder to identify duplicates
Less than a minute for the whole process. On some occasions where a duplicate is picked up, this process may take up 5-15 minutes as this is where your staff starts the investigative process by checking your PM software or confirming if a bill has to be reprocessed.

To ensure that bills/invoices are not incorrectly paid more than once, your offshore team will carry out an audit on all previously processed bills and cross check this with any bills/invoices identified as duplicates.

Process the bills in your property management software per folder category
1 minute per file | 100 bills = 1 hour and 40 minutes

This estimate improves with time as your offshore team member gains familiarity and confidence with this particular task.

Now that you see an example of the bills and invoicing process, you can start reviewing and optimising what you currently have in place. But if you don’t have time for it…

Let STAFFLINK Handle Your Bills Payment And  Tenant Invoicing

STAFFLINK can help you achieve maximum efficiency by taking over your billing and invoice processing.

We have designed a workflow to ensure your bills payment and tenant invoicing are accurate and submitted on time.

If you want to see more of STAFFLINK’s workflows, check out our Letting Campaign Workflow here.

By engaging STAFFLINK and moving this task to your offshore team, it will improve your business and help your onshore team to leverage their time.

Talk to us now so you can begin building your offshore team now!

Schedule A Free Consultation!