Invoices from vendors you frequently use will appear at any time. When you receive an invoice, it’s important that you are properly coding the invoice and submitting it before the due date to make it on that months P&L.
What is an invoice?
An invoice is a time-stamped commercial document that itemizes and records a transaction between a buyer and a seller. If goods or services were purchased on credit, the invoice usually specifies the terms of the deal and provides information on the available methods of payment. An invoice can be from the security company you use, from Guest Supply or HD Supply where you order hotel supplies.
How do I code the invoice?
You will need to know the Department number and Account Code (GL number) when coding the invoice. There is a Code of Accounts or COA to help you find the correct numbers to use for the type of service on the invoice. Still not sure where to code Maintenance uniforms? The Description column details where the items need to be coded. If you do not have the COA, please reach out to your RVPO.
Use the prefab stamp with the lines to write down the 3-digit department code and 5-digit account code (Ex. 001-64220), the amount, sign and date.
What do I do once I have my invoice coded?
Once your invoice(s) has been coded, they need to be sent to Accounts Payables. Scan the invoices to your computer and then email them to RRIPayables@whg.com.
When do my invoices need to be submitted?
All invoices need to be submitted by the 25th of every month to be on that months P&L.
What if I have a statement and not an invoice?
You cannot submit a statement from the vendor. Reach out to the vendor and ask them to send you an invoice.
What if I have an old invoice?
Code and submit the invoice to Accounts Payables same as normal. Do not include late fees for processing.
Best Practice:
Submit all invoices as you receive them - do not hold onto. Touch it – touch it once.
Keep all open invoices in a “Pending” folder until you see accrued on P&L.
Keep your Purchase Orders or PO in a pending file. When you receive the invoices, you can easily reconcile if you received all invoices in a month to match your purchases made.
Use the Property Purchase Order- Invoice Tracker to follow the entire process. This is available on WEST Edge.
Saved scanned invoices emailed to Accounts Payables to a sub folder in email for future reference.
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