Role catalogs

Accounts Payable workflow catalog

an accounting professional who manages and processes a company’s outgoing financial obligations and payments to vendors, suppliers, and creditors

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300
workflows in this catalog
3
industriesManufacturing 111 · Construction 95 · Property Management 94
6
areas of workLargest: Finance & Accounting (70)
787k
hrs/yr across these workflowsPlanning estimates from the Process Atlas

Accounts Payable

Industry
Area

300 workflows

Accounts Payable · 2 areas · about 339k hrs/yr

Manufacturing (111 workflows)

Finance & Accounting (70)

about 228,876 hrs/yr

  1. AP 2-way match (Daily / Monthly, about 5,375 hrs/yr) For services or non-stock items, AP matches the invoice to the PO on price and quantity, without a receipt, within tolerance before approving it for payment.
  2. AP 3-way match (Daily / Monthly, about 5,375 hrs/yr) AP matches supplier invoice lines to PO lines and receipts, checking price, quantity, and item within tolerance, and holds mismatches for resolution.
  3. AP price variance exception (Daily / Monthly, about 5,375 hrs/yr) When invoice price differs from PO price beyond tolerance, AP holds the invoice and asks the buyer to confirm, correct the PO, or dispute with the supplier.
  4. AP receipt quantity variance exception (Daily / Monthly, about 5,375 hrs/yr) When invoiced quantity exceeds received quantity, AP holds the invoice, checks for unrecorded receipts, and asks receiving or the supplier to resolve it.
  5. AP freight/misc charge validation (Daily / Monthly, about 5,375 hrs/yr) Invoices often include freight, fuel, handling, or tooling charges.
  6. AP tax validation (Daily / Monthly, about 5,375 hrs/yr) AP checks sales or use tax on supplier invoices against the ship-to jurisdiction and exemption status, and accrues use tax where the supplier charged none.
  7. Vendor credit memo (Daily / Monthly, about 5,375 hrs/yr) Credits from suppliers for returns, pricing errors, or rebates are entered in AP, matched to the original invoice or RTV, and applied against future payments.
  8. AP payment proposal (Daily / Monthly, about 5,375 hrs/yr) AP selects invoices due for payment by due date and discount terms, excludes holds and disputes, and builds a proposed payment run for approval.
  9. Payment approval (Daily / Monthly, about 5,375 hrs/yr) Before payments go out, the controller or treasurer reviews the payment run: payees, amounts, new or changed vendors, and the cash position.
  10. ACH/check/wire execution (Daily / Monthly, about 5,375 hrs/yr) Approved payments are released: ACH files are generated and uploaded to the bank, checks printed, and wires keyed in the banking portal, then confirmed.
  11. Positive pay submission (Daily / Monthly, about 5,375 hrs/yr) After issuing checks, AP sends the bank a positive pay file of check numbers and amounts so the bank can reject presented checks that do not match.
  12. Vendor remittance advice (Daily / Monthly, about 5,375 hrs/yr) Suppliers receive remittance advice listing the invoices paid in each payment, by email or portal, so they can apply the cash on their side.
  13. Customer billing adjustment (Daily / Monthly, about 5,375 hrs/yr) Billing errors in price, quantity, or freight are corrected by adjusting or reissuing invoices, with the reason documented and approved.
  14. Customer credit memo (Daily / Monthly, about 5,375 hrs/yr) Credits for returns, pricing errors, or rebates are issued to customers, linked to the original invoice or RMA, and approved according to amount.
  15. Customer deductions research (Daily / Monthly, about 5,375 hrs/yr) Customers deduct for shortages, pricing, promotions, or compliance chargebacks.
  16. Collections prioritization (Daily / Monthly, about 5,375 hrs/yr) Each week, collectors rank past-due accounts from the AR aging by amount, days late, credit risk, and broken promises, so the most important calls happen first.
  17. Collections outreach (Daily / Monthly, about 5,375 hrs/yr) Collectors email and call customers about past-due invoices, send copies and statements, record promises to pay, and escalate unresponsive accounts.
  18. Customer statement generation (Daily / Monthly, about 5,375 hrs/yr) Each period, AR produces statements from the ERP listing every open invoice, credit, and payment, and sends them by email so customers can reconcile their records and pay.
  19. Sales/use tax return (Daily / Monthly, about 5,375 hrs/yr) Each period, tax staff compile taxable sales and use tax accruals by jurisdiction from the ERP, prepare returns, and file and pay through state tax portals.
  20. 1099 preparation (Daily / Monthly, about 5,375 hrs/yr) At year end, AP identifies reportable payments to 1099 vendors, confirms TINs and addresses, and prepares forms for recipients and IRS filing by the deadline.
  21. Employee reimbursement (Daily / Monthly, about 5,375 hrs/yr) Approved expense reports are paid to employees through the AP payment run or payroll, and the payment reference is recorded against each report so balances clear.
  22. Journal entry preparation (Daily / Monthly, about 5,375 hrs/yr) Accountants prepare journal entries for accruals, reclassifications, and corrections in an Excel support workbook, then key the entry into the ERP with calculations and documents attached.
  23. Journal entry approval (Daily / Monthly, about 5,375 hrs/yr) Before a manual journal entry posts, a second person reviews it, checking the support, account strings, amounts, and whether the preparer has authority for that entry type.
  24. Recurring journal entries (Daily / Monthly, about 5,375 hrs/yr) Standard monthly entries such as rent, insurance, or allocations are posted each period from templates, with amounts checked for changes.
  25. Prepaid amortization (Daily / Monthly, about 5,375 hrs/yr) Prepaid expenses such as insurance or software are amortized over their service period, and the schedule is updated for new prepaids.
  26. Accrual calculation (Daily / Monthly, about 5,375 hrs/yr) At month end, accountants calculate accruals for expenses incurred but not invoiced, such as utilities, services, or bonuses, from contracts and usage.
  27. Intercompany billing (Daily / Monthly, about 5,375 hrs/yr) Each month, charges between company entities for goods, services, or shared costs are billed from an allocation schedule, creating matching payable and receivable records in both ledgers.
  28. Fixed asset addition (Daily / Monthly, about 5,375 hrs/yr) Capitalizable purchases are added to the fixed asset register with cost, in-service date, useful life, depreciation method, and location, following the capitalization policy.
  29. Fixed asset depreciation (Daily / Monthly, about 5,375 hrs/yr) Each period, depreciation is calculated and posted in the ERP for every active asset by book, and the total expense is checked against the prior period and the schedule.
  30. Standard cost roll (Daily / Monthly, about 5,375 hrs/yr) Cost accounting rolls standard costs up from material, labor, overhead, and outside processing through BOMs and routings to compute new standards.
  31. Standard cost update (Daily / Monthly, about 5,375 hrs/yr) After approval, new standards are frozen and applied to inventory, and the revaluation entry for stock on hand is posted.
  32. Manufacturing cost variance analysis (Daily / Monthly, about 5,375 hrs/yr) For the monthly results, finance explains total manufacturing variances by type, including material, labor, overhead, scrap, and method changes, with a written cause for each large item.
  33. Management reporting (Daily / Monthly, about 5,375 hrs/yr) Each month, finance produces management reports from the ERP and Power BI with KPIs, variances to budget and forecast, and written commentary for the leadership team.
  34. Budget preparation (Daily / Monthly, about 5,375 hrs/yr) Finance distributes budget templates, collects departmental submissions in Excel, builds the consolidated budget, and loads the approved figures into the ERP by account and period.
  35. Debt covenant reporting (Daily / Monthly, about 5,375 hrs/yr) Finance calculates the covenant ratios defined in the credit agreement, prepares the compliance certificate, and sends it to the lender by the due date.
  36. Audit PBC fulfillment (Daily / Monthly, about 5,375 hrs/yr) External auditors provide a prepared-by-client list of schedules, samples, and documents; finance compiles and uploads each item by its due date.
  37. AP invoice intake from email/portal (Daily, about 2,250 hrs/yr) Supplier invoices arrive in an AP mailbox or supplier portals.
  38. AP duplicate invoice check (Daily, about 2,250 hrs/yr) Before entry, AP checks whether an invoice was already entered or paid, comparing supplier, invoice number, date, and amount, including near-duplicates with altered numbers.
  39. AP invoice receipt-line entry (Daily, about 2,250 hrs/yr) AP enters invoices by selecting the receipt lines being billed, so the invoice pulls PO price and received quantity and clears the matching accrual.
  40. Non-PO invoice coding (Daily, about 2,250 hrs/yr) Invoices without a PO, such as utilities, services, or rent, are coded to GL accounts and cost centers using vendor history and department information.
  41. Non-PO invoice approval (Daily, about 2,250 hrs/yr) Non-PO invoices route to budget owners for approval by amount and cost center before payment, and evidence of each approval is kept.
  42. Recurring vendor invoice (Daily, about 2,250 hrs/yr) Leases, service contracts, and subscriptions bill the same amount on a fixed cycle.
  43. AR invoice generation (Daily, about 2,250 hrs/yr) After shipment, billing creates customer invoices from shipped orders with correct prices, freight, taxes, and terms, and posts them to AR.
  44. Customer invoice delivery (Daily, about 2,250 hrs/yr) Invoices reach customers by email, print, EDI 810, or upload to customer AP portals, each carrying the PO and reference numbers the customer requires.
  45. Cash receipt entry (Daily, about 2,250 hrs/yr) Checks, ACH payments, and wires are recorded in the ERP as cash receipts with customer, amount, date, and deposit batch.
  46. Cash application (Daily, about 2,250 hrs/yr) AR applies each payment to the invoices the customer is paying, using remittance advice, and records short pays, deductions, and unapplied amounts.
  47. Supplier statement reconciliation (Daily / Weekly, about 546 hrs/yr) Suppliers send account statements listing open invoices and payments.
  48. AP aging review (Daily / Weekly, about 546 hrs/yr) AP and the controller review the payables aging by vendor and bucket, check for old unpaid items, disputes, and debit balances, and plan upcoming payments.
  49. GRNI reconciliation (Daily / Weekly, about 546 hrs/yr) Accounting reconciles the goods received not invoiced account, identifying old receipts without invoices, price differences, and receipts that should be written off.
  50. Accrued receipts reconciliation (Daily / Weekly, about 546 hrs/yr) At month end, accounting checks that accrued receipts in the ledger agree with the ERP subledger and that goods received but not billed are properly accrued.
  51. Lockbox reconciliation (Daily / Weekly, about 546 hrs/yr) Payments received through the bank lockbox are reconciled between the lockbox file, the deposit, and ERP cash receipts, and exceptions resolved.
  52. Unapplied cash review (Daily / Weekly, about 546 hrs/yr) AR works the list of payments that could not be applied to invoices, researches remittance details and bank references, contacts customers, and then applies, reclassifies, or refunds the cash.
  53. Credit limit review (Daily / Weekly, about 546 hrs/yr) Credit reviews customer limits against payment history, current exposure, credit reports, and order forecasts, and raises, lowers, or holds each limit.
  54. Sales tax review (Daily / Weekly, about 546 hrs/yr) Tax staff review sales tax charged on customer invoices against jurisdiction rates, product taxability, and exemption certificates on file, and correct invoices where the tax is wrong.
  55. Bank reconciliation (Daily / Weekly, about 546 hrs/yr) Accounting reconciles each bank statement or banking portal download with the ERP cash ledger, matching deposits, payments, and fees, and investigating outstanding checks and unrecorded items.
  56. Credit card reconciliation (Daily / Weekly, about 546 hrs/yr) Company card statements are reconciled with receipts and coded to accounts, and missing receipts or personal charges are followed up.
  57. Expense report review (Daily / Weekly, about 546 hrs/yr) Employee expense reports are checked against policy limits, required receipts, and manager approvals, coded to the right GL accounts, and approved for reimbursement.
  58. Intercompany reconciliation (Daily / Weekly, about 546 hrs/yr) Accountants reconcile intercompany balances between each pair of entities, find timing differences and posting errors, and agree the elimination entries needed for consolidation.
  59. Fixed asset reconciliation (Daily / Weekly, about 546 hrs/yr) Accounting reconciles the fixed asset subledger with the GL balances for cost and accumulated depreciation by asset class, and investigates any difference before close.
  60. Inventory valuation review (Daily / Weekly, about 546 hrs/yr) Finance reviews inventory value by category, checks unit costs for reasonableness, and tests lower of cost or net realizable value before period close.
  61. Purchase price variance review (Daily / Weekly, about 546 hrs/yr) Cost accounting reviews variances between PO or invoice price and standard cost by part and supplier, and explains the major ones.
  62. Labor variance review (Daily / Weekly, about 546 hrs/yr) Cost accounting compares actual labor hours and pay rates with routing standards by job and work center, splits the variance into rate and efficiency, and investigates large ones.
  63. Overhead variance review (Daily / Weekly, about 546 hrs/yr) Finance compares overhead applied through burden rates with actual overhead spending in the ledger, and analyzes spending and volume variances for each cost pool.
  64. Job cost reconciliation (Daily / Weekly, about 546 hrs/yr) Accounting reconciles WIP job cost with the GL WIP balance, and costs on closed jobs with cost of goods sold.
  65. Subledger-to-GL reconciliation (Daily / Weekly, about 546 hrs/yr) Accounting reconciles the AR, AP, inventory, and fixed asset subledger reports with their GL control accounts at period end and investigates every difference before close.
  66. Balance sheet reconciliation (Daily / Weekly, about 546 hrs/yr) Each balance sheet account is reconciled to supporting detail, with reconciling items explained and signed by a preparer and a reviewer.
  67. Forecast update (Daily / Weekly, about 546 hrs/yr) Finance rolls the full-year forecast forward each period, replacing forecast with actuals to date, revising the outlook, and explaining changes from the prior forecast version.
  68. Cash forecast (Daily / Weekly, about 546 hrs/yr) Each week, treasury forecasts cash from expected AR collections, AP payment runs, payroll, debt service, and capital spend, and compares it with bank balances to manage liquidity.
  69. Month-end close checklist (Monthly, about 432 hrs/yr) The controller runs a checklist of close tasks, including cutoffs, accruals, reconciliations, and reports, tracking owners, due dates, and completion.
  70. Financial statement preparation (Monthly, about 432 hrs/yr) After close, finance prepares the income statement, balance sheet, and cash flow statement from the trial balance, with footnotes and explanations for material variances.

Procurement & Supplier (41)

about 109,722 hrs/yr

  1. Purchase requisition approval (Daily, about 3,750 hrs/yr) Requisitions route to approvers by amount, department, and category.
  2. Supplier quote collection (Daily, about 3,750 hrs/yr) Supplier quotes arrive by email or portal in different formats.
  3. Supplier quote comparison (Daily, about 3,750 hrs/yr) Buyers compare quotes on landed cost, price breaks, lead time, tooling, quality history, and terms, normalizing units and currencies, and recommend a supplier.
  4. Supplier selection approval (Daily, about 3,750 hrs/yr) The recommended supplier and price go to the purchasing manager, and sometimes quality and engineering, for approval, along with the comparison and any exceptions to the approved supplier list.
  5. Purchase order approval (Daily, about 3,750 hrs/yr) POs above set limits or with nonstandard terms route for approval.
  6. PO dispatch (Daily, about 3,750 hrs/yr) Released POs go to suppliers by email, portal, or EDI 850 with drawings and quality requirements attached, and the dispatch date is recorded so acknowledgements can be tracked.
  7. Supplier PO acknowledgement capture (Daily, about 3,750 hrs/yr) Suppliers confirm POs by email, portal, or EDI 855 with their price, quantity, and ship date.
  8. PO price variance resolution (Daily, about 3,750 hrs/yr) A supplier invoices or acknowledges a price different from the PO.
  9. PO date variance follow-up (Daily, about 3,750 hrs/yr) Buyers chase suppliers whose confirmed dates slip past need dates, obtain new dates, update PO lines, and warn planning about the impact on jobs.
  10. PO change order (Daily, about 3,750 hrs/yr) Quantity, date, or price changes on an open PO need a change order.
  11. PO cancellation (Daily, about 3,750 hrs/yr) When a need disappears, buyers cancel PO lines, check supplier cancellation terms and any material already produced, negotiate charges, and close the lines.
  12. Purchase contract renewal (Daily, about 3,750 hrs/yr) As a supplier agreement nears its end date, purchasing gathers trailing spend, delivery and quality scores, and current market or index pricing, negotiates new terms, and updates the purchase agreement in the ERP.
  13. Supplier master maintenance (Daily, about 3,750 hrs/yr) Supplier records change: addresses, contacts, terms, remit-to, and status.
  14. Supplier W-9/tax document collection (Daily, about 3,750 hrs/yr) AP or purchasing collects W-9 forms from US suppliers and W-8 forms from foreign ones, checks name and TIN against the supplier record, and stores each form for 1099 reporting.
  15. Supplier banking change verification (Daily, about 3,750 hrs/yr) A request to change supplier bank details is a common fraud route.
  16. Supplier insurance/certification collection (Daily, about 3,750 hrs/yr) Purchasing and quality collect certificates of insurance and quality certifications such as ISO 9001, track their expiry dates, and request renewals before coverage or certification lapses.
  17. Approved supplier list maintenance (Daily, about 3,750 hrs/yr) Quality and purchasing maintain which suppliers are approved for which commodities or processes, with status, scope, and restrictions, updating the list after audits, performance reviews, or certification changes.
  18. Supplier corrective action (Daily, about 3,750 hrs/yr) After a supplier nonconformance, purchasing and quality issue a corrective action request, track the supplier's containment, root cause, and actions, and verify effectiveness before closing.
  19. Supplier audit scheduling (Daily, about 3,750 hrs/yr) Quality plans supplier audits from risk, performance, and certification status, agrees dates with each supplier, and records the audit schedule and scope.
  20. Supplier audit follow-up (Daily, about 3,750 hrs/yr) After an audit, quality sends findings to the supplier, tracks responses and corrective actions against due dates, and verifies closure before updating the supplier's status.
  21. Direct material price update (Daily, about 3,750 hrs/yr) New supplier prices from quotes, contracts, or increase letters are entered in the ERP supplier price list with effective dates, so POs and standard costs pick them up.
  22. Commodity surcharge update (Daily, about 3,750 hrs/yr) Suppliers adjust surcharges for metals, resin, or energy from published index prices.
  23. Outside processing PO (Daily, about 3,750 hrs/yr) When a job reaches an outside operation, purchasing issues a PO to the processor for that step, carrying the specification, quantity, and required certification, and links it to the job.
  24. Subcontract PO release (Daily, about 3,750 hrs/yr) Subcontracted assemblies or components are released to the subcontractor with the PO, drawings, and any free-issue or customer-supplied material shipped alongside.
  25. Spot-buy/emergency purchase (Daily, about 3,750 hrs/yr) An urgent need, such as a line-down part or a breakdown repair, requires a fast purchase outside normal sourcing.
  26. MRO purchase (Daily, about 3,750 hrs/yr) Maintenance, repair, and operating supplies are requested by departments, often without part numbers.
  27. Capital equipment purchase (Daily, about 3,750 hrs/yr) Buying equipment requires an approved capital request, competitive quotes, specifications, installation terms, and a PO coded to the capital project rather than to expense.
  28. Procurement savings tracking (Daily, about 3,750 hrs/yr) Purchasing records negotiated price reductions and avoided costs by part and supplier, calculates savings against a baseline, and reports them to finance.
  29. Buyer workbench review (Daily / Weekly, about 546 hrs/yr) Buyers work a daily list of approved requisitions, MRP suggestions, reschedule messages, and overdue POs in the ERP, deciding which to convert, combine, expedite, or push back.
  30. PO acknowledgement variance review (Daily / Weekly, about 546 hrs/yr) When an acknowledgement differs from the PO in price, quantity, or date, buyers decide whether to accept, push back, or change the PO, and record the outcome on the line.
  31. Supplier performance scorecard (Daily / Weekly, about 546 hrs/yr) Each period, purchasing scores suppliers on on-time delivery, quality rejects, responsiveness, and cost using ERP receipts and quality records, then shares the scorecards with suppliers.
  32. Supplier OTD review (Daily / Weekly, about 546 hrs/yr) Purchasing compares receipt dates with promised dates by supplier and line, calculates on-time delivery against the agreed window, and follows up with repeat offenders.
  33. Supplier quality rating review (Daily / Weekly, about 546 hrs/yr) Supplier quality reviews rejects, defective parts per million, NCRs, and corrective action responsiveness by supplier, and decides whether probation, extra inspection, or a CAPA is needed.
  34. Supplier capacity/risk review (Daily / Weekly, about 546 hrs/yr) Purchasing assesses whether key suppliers can support forecast volumes, checking capacity, financial health, and location risks, and records a mitigation plan for each weak point.
  35. Single-source risk review (Daily / Weekly, about 546 hrs/yr) Purchasing lists parts with only one approved supplier, rates risk by spend, lead time, and qualification difficulty, and decides where to qualify a second source.
  36. Purchase requisition creation (Per event / project, about 150 hrs/yr) A need arises from MRP, a department, or maintenance.
  37. Supplier RFQ creation (Per event / project, about 150 hrs/yr) For new or re-sourced parts, buyers issue RFQs to qualified suppliers with drawings, specifications, quantities, delivery requirements, and a response deadline, and log each RFQ in the ERP.
  38. Purchase order creation (Per event / project, about 150 hrs/yr) Buyers turn approved requisitions or planned orders into POs, setting supplier, lines, prices, dates, ship-to, terms, and quality clauses in the ERP from the quote or contract.
  39. Blanket purchase agreement setup (Per event / project, about 150 hrs/yr) A negotiated agreement sets price, total quantity or value, and term for a part or commodity.
  40. Blanket release creation (Per event / project, about 150 hrs/yr) Against an active blanket agreement, buyers create releases for specific quantities and dates, often from MRP demand, and send each release to the supplier.
  41. Supplier onboarding (Per event / project, about 150 hrs/yr) A new supplier provides a W-9, banking details, insurance, certifications, and a supplier questionnaire.

Accounts Payable · 2 areas · about 293k hrs/yr

Construction (95 workflows)

Finance & Accounting (60)

about 260,712 hrs/yr

  1. Subcontract pay app intake (Daily / Monthly, about 6,250 hrs/yr) Subcontractors submit monthly pay applications, often on AIA G702/G703 forms or through an owner's payment platform, with the schedule of values, percent complete, stored materials, and retention.
  2. Pay app compliance check (Daily / Monthly, about 6,250 hrs/yr) Before a pay app is approved, accounting confirms compliance: current insurance certificate, prior-period lien waivers received, certified payroll if required, and any contract-specific documents.
  3. Pay app SOV validation (Daily / Monthly, about 6,250 hrs/yr) Accounting checks each pay app line against the subcontract schedule of values: scheduled value matches, percent complete does not exceed 100, and the math totals correctly.
  4. Retention validation (Daily / Monthly, about 6,250 hrs/yr) Retention on each pay app is checked against the subcontract rate, including any reduction after a completion point, and retention held to date is tied to the ledger.
  5. Lien waiver collection (Daily / Monthly, about 6,250 hrs/yr) For every payment, the company collects lien waivers from subcontractors and suppliers, conditional before payment and unconditional after, tracking which waivers are outstanding by job and period.
  6. Conditional lien waiver validation (Daily / Monthly, about 6,250 hrs/yr) Conditional waivers are checked for correct claimant, job, amount, and through-date, and in states that mandate statutory forms, that the exact form was used.
  7. Unconditional lien waiver follow-up (Daily / Monthly, about 6,250 hrs/yr) After payment clears, the company follows up for unconditional waivers matching the amounts paid, closing the lien exposure for that period.
  8. AP posting (Daily / Monthly, about 6,250 hrs/yr) Approved invoices are posted to the AP subledger and job cost, with batch totals checked and posting reports kept for the close.
  9. AP payment run (Daily / Monthly, about 6,250 hrs/yr) The payment run selects approved invoices due for payment, excluding held invoices and vendors with compliance holds, and produces checks or electronic payments.
  10. Subcontract payment approval (Daily / Monthly, about 6,250 hrs/yr) Subcontractor payments need PM approval of the pay app amount and confirmation that compliance, waivers, and retention are in order before release.
  11. Joint check processing (Daily / Monthly, about 6,250 hrs/yr) Joint checks are issued to both the subcontractor and supplier as payees under a joint check agreement, with the amount split recorded.
  12. Positive pay submission (Daily / Monthly, about 6,250 hrs/yr) After printing checks, AP uploads the issued check file to the bank's positive pay service so the bank can reject checks that do not match.
  13. ACH payment file (Daily / Monthly, about 6,250 hrs/yr) Electronic payments are sent as ACH files built from the payment run and uploaded to the bank portal for release under dual control.
  14. Owner billing preparation (Daily / Monthly, about 6,250 hrs/yr) Each billing cycle, project accounting builds the owner billing from the schedule of values, approved change orders, stored materials, and retention, after the PM confirms percent complete in the field.
  15. AIA G702/G703 billing (Daily / Monthly, about 6,250 hrs/yr) Progress billings on AIA G702 and G703 show original contract sum, net change orders, work completed by line, stored materials, retainage, and current payment due, certified by the architect before the owner pays.
  16. T&M billing (Daily / Monthly, about 6,250 hrs/yr) Time-and-materials work is billed from signed field tickets priced at contract labor, equipment, and material rates plus the allowed markups, with tickets and supplier invoices attached as backup.
  17. Unit-price billing (Daily / Monthly, about 6,250 hrs/yr) Unit-price contracts, common in heavy civil and public work, bill agreed installed quantities times the contract unit prices, with quantities measured jointly with the owner's inspector each pay period.
  18. Cost-plus billing (Daily / Monthly, about 6,250 hrs/yr) Cost-plus billing charges actual reimbursable cost plus fee with detailed backup, and on guaranteed maximum price contracts tracks cumulative cost against the GMP and any shared savings terms.
  19. Progress billing approval (Daily / Monthly, about 6,250 hrs/yr) Before the final application, the draft or pencil billing is reviewed with the owner's representative and the architect, who agree percent complete by line so the certified billing is paid without rework.
  20. Change-order billing (Daily / Monthly, about 6,250 hrs/yr) Executed owner change orders are added to the billing as new schedule of values lines or line adjustments, so changed work can be billed as it is completed.
  21. Retention billing (Daily / Monthly, about 6,250 hrs/yr) At substantial completion or the contract's release point, retention held by the owner is billed, typically with closeout documents, final waivers, and consent of surety attached.
  22. Owner payment receipt (Daily / Monthly, about 6,250 hrs/yr) Owner payments arrive by check, ACH, or wire.
  23. Collections follow-up (Daily / Monthly, about 6,250 hrs/yr) Overdue owner invoices are chased by call, email, and letter, and where needed by preliminary notices, prompt payment claims, or lien filings, all tracked by job with statutory deadlines.
  24. Customer statement (Daily / Monthly, about 6,250 hrs/yr) Owners with several jobs or service accounts receive a monthly statement listing open invoices, retention held, and payments received, emailed to their accounts payable contact.
  25. Equipment cost allocation (Daily / Monthly, about 6,250 hrs/yr) Owned equipment is charged to jobs at internal hourly or daily rates based on reported usage, with the charges credited to the equipment cost pool so fleet cost is recovered.
  26. Labor burden allocation (Daily / Monthly, about 6,250 hrs/yr) Labor burden, meaning payroll taxes, workers compensation, benefits, and union fringes, is allocated to jobs on top of gross wages using burden rates by class or union.
  27. Indirect cost allocation (Daily / Monthly, about 6,250 hrs/yr) Indirect costs such as shop, yard, and project support are allocated to jobs each period on a set basis like labor hours or direct cost, so job margins carry their share.
  28. General conditions allocation (Daily / Monthly, about 6,250 hrs/yr) General conditions shared across projects, such as a trailer compound, a project executive, or site security, are allocated to each job by duration, headcount, or usage.
  29. Journal entry (Daily / Monthly, about 6,250 hrs/yr) Manual journal entries record adjustments, reclasses, and corrections.
  30. Recurring journal entry (Daily / Monthly, about 6,250 hrs/yr) Recurring entries for rent, depreciation, loan interest, and insurance amortization post each period from a schedule maintained by accounting and reviewed at close.
  31. Accruals (Daily / Monthly, about 6,250 hrs/yr) At month-end, accounting accrues costs incurred but not yet invoiced, such as subcontractor work in place, received materials, and unpaid payroll, so job cost and WIP reflect the period.
  32. Prepaids (Daily / Monthly, about 6,250 hrs/yr) Prepaid insurance, bonds, software, and deposits are recorded as assets when paid and amortized monthly over the coverage period, with the schedule tied to the balance sheet.
  33. Intercompany charges (Daily / Monthly, about 6,250 hrs/yr) Related companies charge each other for equipment, labor, and shared services.
  34. Fixed assets (Daily / Monthly, about 6,250 hrs/yr) Equipment, vehicles, and buildings are added, disposed of, and depreciated in the fixed asset register, which must tie to the GL at every close.
  35. Job profitability reporting (Daily / Monthly, about 6,250 hrs/yr) Job profitability reports show revenue, cost, and gross margin by job and division, compared with bid margin and current forecast, for PMs, operations managers, and executives.
  36. Overhead allocation (Daily / Monthly, about 6,250 hrs/yr) Company overhead is allocated to divisions or jobs on a set basis, such as direct labor or revenue, so leadership sees profitability after overhead rather than gross margin alone.
  37. Tax reporting (Daily / Monthly, about 6,250 hrs/yr) Accounting prepares tax reports and supporting schedules for income, payroll, franchise, and property taxes, including workpapers and data requests for the outside CPA.
  38. 1099 processing (Daily / Monthly, about 6,250 hrs/yr) At year-end, accounting reviews payments to reportable vendors, confirms TINs from W-9s, and prepares Forms 1099-NEC and 1099-MISC for recipients and IRS filing.
  39. Vendor invoice intake (Daily, about 2,250 hrs/yr) Vendor invoices arrive by email, mail scans, and supplier portals.
  40. Invoice duplicate check (Daily, about 2,250 hrs/yr) Before entry, AP checks each invoice against history for duplicates, since the same invoice often arrives twice by email and mail, or with a changed number or date.
  41. PO invoice match (Daily, about 2,250 hrs/yr) Material invoices are matched to the purchase order and the field receipt for quantity and price, and invoices outside tolerance are held until the PM or buyer resolves the difference.
  42. Vendor invoice coding (Daily, about 2,250 hrs/yr) AP codes each invoice to job, cost code, cost type, and GL account, using the PO or subcontract where one exists and the PM's direction where one does not.
  43. Invoice approval routing (Daily, about 2,250 hrs/yr) Invoices route to the PM, superintendent, or department head for approval based on job and amount, often in an AP workflow tool, before they can be paid.
  44. Owner invoice submission (Daily, about 2,250 hrs/yr) Owner invoices go out through owner payment portals, email, or mail, with the attachments each owner requires, such as lien waivers, certified payroll reports, insurance certificates, and cost backup.
  45. Cash application (Daily, about 2,250 hrs/yr) Receipts are applied to specific owner invoices in the AR ledger, and differences such as retention, short-pays, or overpayments are recorded with a reason so the job's receivable stays accurate.
  46. Stored materials documentation review (Daily / Weekly, about 546 hrs/yr) When a pay app bills stored materials, accounting reviews invoices, bills of sale, insurance, photos, and storage location, as the contract requires, before paying for material not yet installed.
  47. Vendor statement reconciliation (Daily / Weekly, about 546 hrs/yr) When a supplier's monthly statement arrives by email or vendor portal, AP compares it with the vendor ledger to find missing invoices, unapplied credits, and payments the supplier has not recorded, then files the reconciliation.
  48. AP aging review (Daily / Weekly, about 546 hrs/yr) Each week the controller works the AP aging for invoices past terms, invoices stuck on compliance or waiver holds, and suppliers at risk of stopping deliveries or serving preliminary lien notices.
  49. AR aging review (Daily / Weekly, about 546 hrs/yr) Each week AR and the controller review aging for overdue owner invoices, retention receivable, and disputed amounts, and assign collection actions by job and project manager.
  50. Job cash flow reconciliation (Daily / Weekly, about 546 hrs/yr) Job cash flow compares cash received from the owner with cash paid out for labor, subcontractors, and materials, showing whether each job is cash positive or being financed by the company.
  51. Job cost reconciliation (Daily / Weekly, about 546 hrs/yr) Each period, job cost totals are reconciled with the AP, payroll, and equipment subledgers and the GL, proving every dollar of cost landed on the right job and account.
  52. Credit card reconciliation (Daily / Weekly, about 546 hrs/yr) Company credit card charges are downloaded from the card portal, matched to receipts, coded to job, cost code, and GL account, and approved by the cardholder and a manager each statement cycle.
  53. Bank reconciliation (Daily / Weekly, about 546 hrs/yr) Each month accounting reconciles every operating and payroll bank account, matching cleared checks, deposits, and transfers with the ledger and listing outstanding items on the signed reconciliation.
  54. Subledger-to-GL reconciliation (Daily / Weekly, about 546 hrs/yr) Each period the AP, AR, payroll, and job cost subledgers are reconciled to their GL control accounts, and any difference is traced to its transaction before the books close.
  55. Balance sheet reconciliation (Daily / Weekly, about 546 hrs/yr) Every balance sheet account is reconciled at close with a supporting schedule, such as prepaids, accruals, retention payable, or loans, and each reconciliation is reviewed and signed.
  56. WIP-to-GL reconciliation (Daily / Weekly, about 546 hrs/yr) The WIP schedule's earned revenue, cost, and billing figures are reconciled to the GL, so reported revenue and over and under billing balances match the books exactly.
  57. Sales/use tax review (Daily / Weekly, about 546 hrs/yr) Sales and use tax on purchases and billings is reviewed by jurisdiction, accruing use tax where a vendor charged none on taxable material and confirming exemption certificates for exempt sales.
  58. Month-end close (Monthly, about 432 hrs/yr) Month-end close runs a checklist of cutoffs, accruals, reconciliations, WIP entries, and reviews across AP, payroll, billing, and the GL, ending with a locked period and financial statements.
  59. Financial statements (Monthly, about 432 hrs/yr) After close, accounting prepares monthly financial statements from the locked ledger, including balance sheet, income statement, and WIP schedule, for management, the surety, and lenders.
  60. Audit support (Annual / Periodic, about 46 hrs/yr) For the annual audit or review, accounting supplies the CPA firm with schedules, reconciliations, contracts, WIP support, and sampled invoices and pay apps, tracked on the auditor's request list.

Contracts, Procurement & Subcontracts (35)

about 32,398 hrs/yr

  1. Subcontractor bid package issuance (Daily / Weekly, about 1,118 hrs/yr) After award, the PM issues buyout bid packages to subcontractors with scope sheets, drawings, specs, schedule, insurance requirements, and the subcontract form, asking for final pricing by a set date.
  2. Subcontractor selection (Daily / Weekly, about 1,118 hrs/yr) The PM compares buyout bids, confirms scope, schedule, and prequalification status, and selects the subcontractor, documenting the leveled comparison and buyout savings or loss against budget.
  3. Subcontract scope sheet (Daily / Weekly, about 1,118 hrs/yr) Each subcontract gets a scope exhibit listing inclusions, exclusions, alternates, unit prices, allowances, schedule obligations, and clarifications agreed during buyout.
  4. Subcontract drafting (Daily / Weekly, about 1,118 hrs/yr) The subcontract is drafted from the company template with the sub's legal name, contract value, scope exhibit, schedule, retention, insurance requirements, and flow-down terms from the prime contract.
  5. Subcontract approval (Daily / Weekly, about 1,118 hrs/yr) Subcontracts are approved under the company authority matrix by value and risk before anyone signs, and every approval is recorded against the commitment.
  6. Subcontract e-signature routing (Daily / Weekly, about 1,118 hrs/yr) The approved subcontract goes out through DocuSign or Adobe Sign to the subcontractor's authorized signer, then to the company signer, and the executed copy is filed with the job.
  7. Subcontract commitment entry (Daily / Weekly, about 1,118 hrs/yr) Once executed, the subcontract is entered as a commitment with lines by cost code, retention, and compliance requirements, so cost tracking and payment control can begin.
  8. PO approval (Daily / Weekly, about 1,118 hrs/yr) Purchase orders route for approval by dollar value and job, with the PM or purchasing manager confirming budget, pricing, and cost coding before the order is issued.
  9. PO issuance (Daily / Weekly, about 1,118 hrs/yr) Approved purchase orders are sent to the vendor with terms, delivery instructions, and required documents, and the vendor's acknowledgment of price and delivery date is recorded.
  10. Material procurement tracking (Daily / Weekly, about 1,118 hrs/yr) Purchasing follows each order from PO through submittal approval, fabrication, shipment, and delivery, updating expected dates as vendors report progress by email and portal.
  11. Long-lead purchase tracking (Daily / Weekly, about 1,118 hrs/yr) Long-lead items are tracked every week against release, fabrication, and delivery milestones, because a slip of a few weeks on switchgear or steel can move the critical path.
  12. Subcontract change order request (Daily / Weekly, about 1,118 hrs/yr) Subcontractors submit change order requests for added scope or changed conditions, with pricing backup, labor and material breakdowns, and schedule impact, which the PM logs and reviews.
  13. Subcontract change order approval (Daily / Weekly, about 1,118 hrs/yr) Subcontract change orders pass through the authority matrix by value before execution, with the approved amount and its budget impact recorded.
  14. Subcontract change order execution (Daily / Weekly, about 1,118 hrs/yr) Approved subcontract change orders are signed by both parties and entered in the ERP, updating the commitment value and the affected cost code budgets.
  15. Prime contract change request (Daily / Weekly, about 1,118 hrs/yr) When scope changes, the contractor notifies the owner and prices the change from subcontractor quotes, self-perform estimates, and contract markups, submitting the request within the contract's notice period.
  16. Owner change order preparation (Daily / Weekly, about 1,118 hrs/yr) After negotiation, the owner change order is prepared with description, value, schedule adjustment, and backup, often on the owner's own form or an AIA G701.
  17. Owner change order approval (Daily / Weekly, about 1,118 hrs/yr) The owner, architect, and contractor sign the change order, and the executed document updates contract value, schedule of values, and budget in the ERP and project platform.
  18. Change order log maintenance (Daily / Weekly, about 1,118 hrs/yr) The change order log shows every owner and subcontract change with status, value, dates, and related commitments, and stays current for PM reviews and owner meetings.
  19. Potential change order log (Daily / Weekly, about 1,118 hrs/yr) Potential changes from RFIs, directives, and field conditions are logged with a rough order of magnitude value and status before formal pricing, and they feed the exposure forecast.
  20. Subcontractor COI collection (Daily / Weekly, about 1,118 hrs/yr) Before a subcontractor mobilizes, the company collects a certificate of insurance showing required coverages, limits, additional insured status, and waiver of subrogation endorsements.
  21. COI expiration tracking (Daily / Weekly, about 1,118 hrs/yr) Certificates expire, and a subcontractor working without current coverage exposes the company.
  22. W-9 collection (Daily / Weekly, about 1,118 hrs/yr) Before a vendor is paid, accounting collects a signed W-9 with legal name, tax classification, and TIN, which drives 1099 reporting and backup withholding decisions.
  23. Joint check administration (Daily / Weekly, about 1,118 hrs/yr) When a supplier asks for payment protection, a joint check agreement names both subcontractor and supplier as payees, and accounting tracks the amounts that must be issued jointly.
  24. Supplier delivery coordination (Daily / Weekly, about 1,118 hrs/yr) Project teams schedule deliveries with suppliers around site logistics, crane time, and laydown space, confirming date, time window, and gate instructions in writing.
  25. Material release authorization (Daily / Weekly, about 1,118 hrs/yr) For stored or fabricated material, the PM authorizes release for shipment once submittals are approved and the site is ready, then sends the release to the supplier.
  26. Procurement log update (Daily / Weekly, about 1,118 hrs/yr) The procurement log tracks submittal status, order date, expected ship, and delivery for every item, and it is updated weekly for project meetings.
  27. Subcontract legal review (Daily / Weekly, about 546 hrs/yr) Legal reviews subcontracts that carry nonstandard terms, subcontractor markups, or high value, focusing on indemnity, pay-when-paid, warranty, insurance, and dispute resolution clauses.
  28. Subcontract change order review (Daily / Weekly, about 546 hrs/yr) The PM tests the subcontractor's pricing against scope, quantities, rates, and markup limits, and decides whether the change is owner-billable, a backcharge, or a cost the job absorbs.
  29. Commitment change reconciliation (Daily / Weekly, about 546 hrs/yr) Project accounting compares approved subcontract changes and PO revisions with commitment values in the ERP and in Procore or Autodesk Construction Cloud, so both systems agree.
  30. Subcontractor default/risk review (Daily / Weekly, about 546 hrs/yr) The company watches for subcontractor distress, such as unpaid suppliers, manpower shortfalls, liens, and financial trouble, and decides whether to add monitoring or invoke default provisions.
  31. Vendor/subcontractor performance review (Daily / Weekly, about 546 hrs/yr) At job end or on a set cycle, the PM rates subcontractors and suppliers on schedule, quality, safety, paperwork, and cooperation, and the ratings feed future bid lists.
  32. Purchase order creation (Per event / project, about 150 hrs/yr) Materials and equipment are bought on purchase orders showing vendor, items, quantities, prices, tax, delivery date, and job cost codes, created from approved quotes or field requisitions.
  33. Vendor setup (Per event / project, about 150 hrs/yr) New vendors and subcontractors are created from the approved setup form, W-9, and banking details, with payment terms, 1099 status, and compliance flags set.
  34. Subcontractor compliance onboarding (Per event / project, about 150 hrs/yr) New subcontractors must supply every required document before starting work: COI, W-9, licenses, safety program, and signed subcontract, all tracked in the compliance log.
  35. Lien waiver requirement setup (Per event / project, about 150 hrs/yr) For each job, accounting sets which lien waivers are required from subs and suppliers: conditional or unconditional, progress or final, and whether the state mandates a statutory form.

Accounts Payable · 2 areas · about 156k hrs/yr

Property Management (94 workflows)

Procurement, Vendors & AP (40)

about 132,351 hrs/yr

  1. Purchase requisition (Daily, about 5,375 hrs/yr) A purchase requisition asks to buy goods or services for a property, stating item, quantity, estimated cost, GL account, and reason, before any purchase order is created.
  2. Property manager approval (Daily, about 5,375 hrs/yr) Property manager approval reviews requisitions, POs, and invoices within the manager's authority, checking need, budget, and vendor choice before money is committed.
  3. PO approval (Daily, about 5,375 hrs/yr) Purchase orders route to approvers by amount and category, so commitments beyond a property's authority reach regional or owner approval before they are issued.
  4. Vendor quote request (Daily, about 5,375 hrs/yr) Quote requests ask approved vendors to price a defined scope, with site visit arrangements, due dates, and insurance requirements, whenever work exceeds the competitive bid threshold.
  5. Bid comparison (Daily, about 5,375 hrs/yr) Bid comparison lays quotes side by side by scope item, price, schedule, exclusions, and warranty, so the manager compares like with like instead of headline totals.
  6. Vendor selection (Daily, about 5,375 hrs/yr) Vendor selection records the chosen bidder and the reason, confirms the vendor is approved and insured, and notifies the bidders who were not selected.
  7. W-9 collection (Daily, about 5,375 hrs/yr) W-9 collection obtains each vendor's legal name, federal tax classification, and taxpayer identification number, which drive 1099 reporting and any backup withholding.
  8. COI collection (Daily, about 5,375 hrs/yr) COI collection obtains certificates of insurance showing general liability, auto, workers' compensation, and umbrella limits, with the owner and manager named as additional insureds.
  9. COI expiration monitoring (Daily, about 5,375 hrs/yr) Expiration monitoring watches every vendor certificate's policy dates, requests renewals before they lapse, and blocks work and payment for vendors without current coverage.
  10. Service contract renewal (Daily, about 5,375 hrs/yr) Renewal review looks at expiring landscaping, janitorial, elevator, pest, and trash agreements and decides whether to renew, rebid, or terminate before the notice deadline passes.
  11. Vendor banking change verification (Daily, about 5,375 hrs/yr) Banking change verification confirms that a request to change a vendor's bank account is genuine by calling the vendor at a number already on file, a core defense against payment fraud.
  12. Vendor master maintenance (Daily, about 5,375 hrs/yr) Vendor master maintenance keeps vendor names, addresses, contacts, tax data, payment terms, and status current, and deactivates vendors the company no longer uses.
  13. Vendor credit memo (Daily, about 5,375 hrs/yr) Returns, overbilling, and settled disputes produce vendor credit memos.
  14. AP posting (Daily, about 5,375 hrs/yr) AP posting records approved invoices in the payables ledger with due date, terms, property, and GL coding, so each one appears in the next payment run.
  15. AP payment proposal (Daily, about 5,375 hrs/yr) The payment proposal selects invoices to pay based on terms, cash available in each property's operating account, and priorities such as utilities, taxes, and insurance.
  16. Payment approval (Daily, about 5,375 hrs/yr) Payment approval has authorized signers review the proposed run, checking vendors, amounts, and cash position before any funds are released.
  17. ACH/check payment run (Daily, about 5,375 hrs/yr) Approved payments become ACH files and printed checks.
  18. Positive pay (Daily, about 5,375 hrs/yr) Positive pay sends the bank a file of issued checks so it can reject any check that does not match on number or amount, then works the exceptions the bank presents.
  19. Vendor remittance (Daily, about 5,375 hrs/yr) Remittance advice tells vendors which invoices each payment covers, by email or portal, so they apply cash correctly and stop chasing invoices already paid.
  20. Invoice intake from email/portal (Daily, about 2,250 hrs/yr) Vendor bills arrive in shared AP mailboxes, vendor portals, and paper mail.
  21. Invoice duplicate check (Daily, about 2,250 hrs/yr) The duplicate check stops the same invoice from being paid twice by comparing vendor, invoice number, amount, and date with invoices already entered or paid.
  22. Invoice-to-PO match (Daily, about 2,250 hrs/yr) PO matching compares the invoice with its purchase order for vendor, items, quantities, and prices, within the tolerance the company allows.
  23. Invoice-to-work-order match (Daily, about 2,250 hrs/yr) Work order matching ties a maintenance or turn invoice to its completed work order, confirming the work was done at the right unit and within the not-to-exceed amount.
  24. 3-way invoice match (Daily, about 2,250 hrs/yr) A three-way match confirms that the invoice, the purchase order, and the receipt of goods or completed work agree on quantity and price before payment.
  25. Invoice property/entity validation (Daily, about 2,250 hrs/yr) Property validation confirms each invoice is charged to the right property and owning entity, which matters most for vendors serving many sites or addresses that span entities.
  26. Invoice GL coding (Daily, about 2,250 hrs/yr) GL coding assigns each invoice line to the correct expense or capital account in the chart of accounts, following vendor defaults and the property's coding rules.
  27. Invoice allocation across properties (Daily, about 2,250 hrs/yr) Allocation splits shared invoices such as insurance, software, or regional services across properties by unit count, square footage, or a fixed percentage.
  28. Utility invoice processing (Daily, about 2,250 hrs/yr) Electric, gas, water, sewer, and trash bills for common areas and vacant units, usually downloaded from utility portals, are entered and checked against usage history.
  29. Recurring invoice processing (Daily, about 2,250 hrs/yr) Recurring invoices for contracts like landscaping, elevator service, and software are entered each period at the contracted amount, with contract start and end dates tracked.
  30. Invoice approval routing (Daily, about 2,250 hrs/yr) Approval routing sends each coded invoice to the property manager, regional manager, or owner according to amount, category, and budget status.
  31. Invoice exception follow-up (Daily, about 2,250 hrs/yr) Exception follow-up resolves invoices stuck on missing POs, failed matches, wrong property, or missing approvals by chasing the vendor or staff member who can fix them.
  32. Vendor statement reconciliation (Daily / Weekly, about 546 hrs/yr) Statement reconciliation compares a vendor's statement with the AP ledger, turning up missing invoices, unapplied payments, and credits never taken.
  33. AP aging review (Daily / Weekly, about 546 hrs/yr) Unpaid invoices sorted by age reveal past-due bills, invoices held on exceptions, and vendors at risk of stopping service.
  34. 1099 vendor review (Daily / Weekly, about 546 hrs/yr) 1099 review confirms during the year which vendors are reportable by tax classification and payment type, that their TINs are valid, and that payments are coded correctly.
  35. Utility account reconciliation (Daily / Weekly, about 546 hrs/yr) Utility account reconciliation confirms every utility account belongs to the right property, every bill arrived and was paid, and vacant units transferred correctly.
  36. Procurement savings review (Daily / Weekly, about 546 hrs/yr) What did bidding, national accounts, and renegotiated contracts actually save?
  37. Purchase order creation (Per event / project, about 150 hrs/yr) PO creation turns an approved requisition into a purchase order with vendor, items, prices, delivery date, property, and GL coding, then sends it to the vendor.
  38. Vendor onboarding (Per event / project, about 150 hrs/yr) Before a new vendor receives work or payment, it must supply a W-9, certificate of insurance, licenses, banking details, and a signed agreement.
  39. Vendor contract setup (Per event / project, about 150 hrs/yr) A signed service agreement becomes a contract record: scope, pricing, term, renewal and termination notice, insurance requirements, and payment terms, linked to the vendor and each covered property.
  40. 1099 filing (Annual / Periodic, about 46 hrs/yr) 1099 filing prepares Forms 1099-NEC and 1099-MISC for reportable vendors, furnishes recipient copies, and files with the IRS, meeting the January 31 deadline for nonemployee compensation.

Property Accounting & Close (54)

about 23,422 hrs/yr

  1. Daily cash reconciliation (Daily / Weekly, about 546 hrs/yr) Daily cash reconciliation matches each day's deposits and disbursements in the bank portal with receipts and payments in the property ledger, catching errors while they are fresh.
  2. Bank feed review (Daily / Weekly, about 546 hrs/yr) Bank feed review checks transactions imported from the bank into the accounting system, matching or coding each one and investigating unfamiliar debits.
  3. Bank reconciliation (Daily / Weekly, about 546 hrs/yr) Monthly bank reconciliation ties each bank statement balance to the GL cash account, listing outstanding checks, deposits in transit, and required adjustments.
  4. Security deposit bank reconciliation (Daily / Weekly, about 546 hrs/yr) State law often dictates where and how resident deposits are held.
  5. Operating account reconciliation (Daily / Weekly, about 546 hrs/yr) Operating account reconciliation covers each property's main account, where rent comes in and bills go out, usually the busiest account the property has.
  6. Credit card reconciliation (Daily / Weekly, about 546 hrs/yr) Credit card reconciliation matches staff corporate card charges with receipts, property, and GL coding, and confirms the statement balance is paid on time.
  7. Merchant settlement reconciliation (Daily / Weekly, about 546 hrs/yr) Merchant settlement reconciliation matches card and ACH processor settlements with bank deposits, fees, chargebacks, and returns, so resident payments tie to the bank.
  8. Due-to/due-from reconciliation (Daily / Weekly, about 546 hrs/yr) When one entity pays for another, both sets of books must agree.
  9. Loan reconciliation (Daily / Weekly, about 546 hrs/yr) Loan reconciliation ties the GL loan balance to the lender's statement, confirming principal payments, rate resets, and any loan modifications or extensions.
  10. Escrow reconciliation (Daily / Weekly, about 546 hrs/yr) Escrow reconciliation confirms tax, insurance, and reserve escrows held by the lender match the GL, including disbursements the lender made on the owner's behalf.
  11. Interest reconciliation (Daily / Weekly, about 546 hrs/yr) On floating-rate loans especially, recorded interest must match the rate, balance, and day-count convention, and the lender's statement.
  12. AP cutoff review (Daily / Weekly, about 546 hrs/yr) Invoices arriving after close may cover goods and services received before month-end.
  13. AR cutoff review (Daily / Weekly, about 546 hrs/yr) AR cutoff review confirms charges and payments land in the right period, including prepaid rent received before month-end for the following month.
  14. Security deposit liability reconciliation (Daily / Weekly, about 546 hrs/yr) Deposit liability reconciliation confirms the GL deposit liability equals the sum of deposits held on resident ledgers, with refunds and forfeitures properly recorded.
  15. Rent roll to GL reconciliation (Daily / Weekly, about 546 hrs/yr) Rent roll to GL reconciliation compares scheduled rent on the rent roll with rental revenue in the general ledger, explaining concessions, vacancy, and adjustments.
  16. Subledger-to-GL reconciliation (Daily / Weekly, about 546 hrs/yr) At every period end, the AR, AP, deposit, and fixed asset subledgers must tie to their GL control accounts, and any difference is traced to the entry that caused it.
  17. Balance sheet reconciliation (Daily / Weekly, about 546 hrs/yr) Balance sheet reconciliation supports every account balance with a schedule: cash, receivables, prepaids, fixed assets, payables, accruals, deposits, and debt.
  18. Forecast update (Daily / Weekly, about 546 hrs/yr) Each month the year-end projection is revised: actuals to date replace forecast months, and expected results for the remaining months are updated.
  19. Cash forecast (Daily / Weekly, about 546 hrs/yr) The property cash forecast projects the weeks ahead from expected rent collections, payables coming due, debt service, and planned capital spending.
  20. Capital reserve reconciliation (Daily / Weekly, about 546 hrs/yr) Reserve reconciliation ties replacement reserve balances held by lenders or in reserve accounts to the GL, recording deposits, draws, and interest.
  21. Month-end close checklist (Monthly, about 432 hrs/yr) The close checklist tracks every month-end task by property (reconciliations, accruals, entries, reviews, reports) with owner, due date, and status.
  22. Period close (Monthly, about 432 hrs/yr) Period close locks the accounting month once all entries, reconciliations, and reviews are complete, so nothing more posts to it.
  23. Financial statement generation (Monthly, about 432 hrs/yr) Financial statement generation produces the balance sheet, income statement, cash flow statement, and supporting schedules for each property and entity after close.
  24. Journal entry preparation (Monthly / Daily, about 372 hrs/yr) Adjustments, reclasses, accruals, and allocations reach the general ledger as journal entries, each with support attached and a description a reviewer can follow.
  25. Journal entry approval (Monthly / Daily, about 372 hrs/yr) JE approval has a reviewer other than the preparer confirm each entry's support, accounts, amounts, and period before it posts.
  26. Recurring journal entry (Monthly / Daily, about 372 hrs/yr) Recurring JEs post the same entry every period, such as amortization, fixed allocations, or standing reclasses, from a template with start and end dates.
  27. Accrual calculation (Monthly / Daily, about 372 hrs/yr) Accrual calculation estimates month-end expenses incurred but not yet billed, such as utilities, contract services, and payroll, using history, contracts, and open POs.
  28. Accrual reversal (Monthly / Daily, about 372 hrs/yr) On the first day of each period, last month's accruals are backed out, so the actual invoice replaces the estimate without double counting.
  29. Prepaid expense schedule (Monthly / Daily, about 372 hrs/yr) The prepaid schedule tracks payments made in advance, such as insurance premiums, service contracts, and permits, and amortizes each over its coverage period.
  30. Prepaid amortization (Monthly / Daily, about 372 hrs/yr) Prepaid amortization expenses the monthly portion of each prepaid item, reducing the prepaid balance until it reaches zero at the end of the coverage term.
  31. Fixed asset addition (Monthly / Daily, about 372 hrs/yr) A fixed asset addition records capital purchases such as roofs, HVAC units, appliances, and renovations, with cost, placed-in-service date, useful life, and depreciation method.
  32. Fixed asset depreciation (Monthly / Daily, about 372 hrs/yr) Each month, every fixed asset is expensed over its useful life, with separate book and tax depreciation methods where the owner requires both.
  33. Construction-in-progress tracking (Monthly / Daily, about 372 hrs/yr) CIP tracking accumulates costs for capital projects not yet in service, then moves them into fixed assets once the project is complete.
  34. Capital project accounting (Monthly / Daily, about 372 hrs/yr) Capital project accounting tracks budgets, commitments, invoices, retainage, and change orders for each project, and reports spend against budget to owners.
  35. Intercompany charge (Monthly / Daily, about 372 hrs/yr) Intercompany charges record costs one entity pays for another, such as shared payroll, insurance, or management services, with matching due-to and due-from entries.
  36. Management fee calculation (Monthly / Daily, about 372 hrs/yr) Management fee calculation applies the management agreement's formula, usually a percentage of collected income with defined exclusions and a minimum fee, to each property every month.
  37. Management fee billing (Monthly / Daily, about 372 hrs/yr) Fee billing posts the calculated management fee as expense to the property and income to the management company, then pays it from the property's operating account.
  38. Property tax accrual (Monthly / Daily, about 372 hrs/yr) The property tax accrual records each month's share of the annual tax bill, based on the latest assessment or estimate, and is trued up when actual bills arrive.
  39. Insurance accrual (Monthly / Daily, about 372 hrs/yr) Insurance expense is recognized monthly, from prepaid amortization or from estimated premiums on policies billed in installments or subject to a premium audit.
  40. Mortgage/debt payment posting (Monthly / Daily, about 372 hrs/yr) Debt payment posting splits each mortgage payment into principal, interest, escrow, and reserve deposits using the lender's statement, and posts each part to the right account.
  41. Utility accrual (Monthly / Daily, about 372 hrs/yr) The utility accrual estimates the month's utility cost when bills arrive after close, using the prior bill, usage trends, or current rates.
  42. Payroll allocation to properties (Monthly / Daily, about 372 hrs/yr) At close, payroll allocation charges site staff wages, payroll taxes, and benefits to the properties they serve, by assignment or tracked time, as each management agreement permits.
  43. Corporate overhead allocation (Monthly / Daily, about 372 hrs/yr) Overhead allocation spreads corporate costs such as accounting, IT, and regional management across properties or funds wherever the agreements allow reimbursement.
  44. Income statement variance analysis (Monthly / Daily, about 372 hrs/yr) Variance analysis identifies why income and expense lines differ from budget and prior month by more than the materiality threshold the owner has set.
  45. Budget-to-actual variance commentary (Monthly / Daily, about 372 hrs/yr) Variance commentary is the written explanation owners receive for each material budget variance, citing specific transactions, timing differences, or events.
  46. Property-level reporting (Monthly / Daily, about 372 hrs/yr) Property-level reporting produces each property's monthly package (financials, rent roll, aging, occupancy, leasing activity) for site managers, regional staff, and owners.
  47. Portfolio consolidation (Monthly / Daily, about 372 hrs/yr) Fund and portfolio statements combine property and entity financials, eliminating intercompany balances and the management fees charged between related entities.
  48. Cash flow statement (Monthly / Daily, about 372 hrs/yr) The cash flow statement shows operating, investing, and financing cash for each property and reconciles net income to the change in cash.
  49. Owner distribution calculation (Monthly / Daily, about 372 hrs/yr) Distribution calculation determines cash available to owners: operating cash less reserves, payables, deposits held, and the minimum balance the management agreement requires.
  50. Owner distribution payment (Monthly / Daily, about 372 hrs/yr) Distribution payment sends approved owner distributions by ACH or check, splitting them among owners by ownership percentage and recording each transaction.
  51. Tax package preparation (Monthly / Daily, about 372 hrs/yr) The tax package gives the owner's tax preparer year-end financials, the fixed asset rollforward, depreciation, 1099 data, and property tax details.
  52. 1099 owner reporting (Monthly / Daily, about 372 hrs/yr) Owner 1099 reporting issues Forms 1099-MISC to owners for rents the property manager collected on their behalf, using owner ledgers and tax IDs on file.
  53. Budget import (Monthly / Daily, about 372 hrs/yr) Budget import loads the approved annual budget by property, account, and month into the accounting system for variance reporting throughout the year.
  54. Audit support (Annual / Periodic, about 46 hrs/yr) External auditors request schedules, reconciliations, invoices, leases, and bank statements.

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