Summary: This invoice overview will assist in understanding the overall process of invoice action items.
Invoices are entered into Vantaca three ways: the invoice email address, the Desktop Utility, or by creating Invoice Action Items. Invoices may process through an automatic step, called OCR Data, that auto populates invoice information based on optical character recognition.
Complete Data Entry can be selected as a group through My Action Items on the Dashboard or individually through Action Items > My Action Items or Action Items > All Action Items.
Invoices process through an automatic duplication check process. If Vantaca believes the invoice may be a duplicate based on data entry, perhaps the same invoice number has been entered for the provider and association previously, the invoice will stop in a Possible Duplicate step for manual review. The most efficient way of reviewing Possible Duplicates is by selecting these items from My Action Items on the Dashboard. Possible Duplicates will be Voided or Verified. Verified invoices will move on to the next step of the invoice process.
Managers review invoices from Accounting > Approve Invoices. The Approve Invoices page has three tabs: Ready to Approve, Complete Data Entry, and Provider on Hold. The Ready to Approve tab contains invoices that have all data entry and are ready for the manager to approve. The Complete Data Entry tab contains invoices that need some form of data entry, often the GL. The Provider On Hold tab contains invoices for providers that have been placed in a Hold Status. The Hold Status can be adjusted in the Service Provider List by those with the appropriate permissions. Managers can approve invoices from the Ready to Approve tab and, after completing the data entry, from the Complete Data Entry tab.
If an association requires board approval for invoices, the board invoice approver will access their homeowner portal and navigate to Board > Board Action Items. Board members have the option to approve, decline, and message about the invoice action item.
If the association requires Signature Approval, navigate to Accounting > Signature Approval and Approve or Decline invoices. Declined invoices will prompt the invoice to be voided.
Invoices are paid from the Accounting > Pay Invoices screen. The Pay Invoices screen has three tabs: Pay Now, Warning, and Future. The Pay Now tab contains invoices that have sufficient funds and are due within a designated date threshold. The Warning tab contains a combination of invoices that, for that association’s account, would cause the account to fall below a designated balance threshold. Invoices can be prioritized and paid directly from the Warning tab, or a transfer can be made which could allow for all invoices to be paid. The Future tab contains invoices that are due a designated number of days in the future. Invoices can be paid from the Future tab; however, those invoices will automatically filter to the Pay Now or Warning tabs at the date threshold.
Checks are printed from the Check Queue, located at Mailroom > Check Queue. Any checks selected will print in a batch, which is available for download on the Jobs tab.