Whether it’s automated responses to applications or scheduled text reminders about ongoing tasks, chances are at some point you have streamlined certain aspects of your daily routine. As we all look for ways to further simplify our workflows, consider incorporating automation tools into your accounts payable (AP) and accounts receivable (AR) processes. Here are four ways Rent Manager can make handling AP and AR easier for you.
Pre-Schedule Payment Notices
Accounts Receivable Automation* makes securing payments from tenants a completely automatic experience. Using the renter’s preferred communication method, you can send rent reminders, late notices, or updates about an open or upcoming charge via email, text, phone broadcast, and Virtual Post Office (VPO)*. You can even personalize the tone of the alert based on the degree of the account’s delinquency. If your team has any questions about a reminder, you can review the tenant’s History/Notes, where a copy of the notice will automatically be saved.
Pay Bills Automatically
Skip the stress of waiting for monthly bills, only to forget to pay them on-time after they arrive. Set bills that come on a regular cycle as Recurring Bills* in Rent Manager. Post internet services, trash, or sewer bills as a one-time cost or on a recurring basis. Scheduling bills saves your team time, while ensuring monthly payments are never missed.
Specify a sequence of tasks to be performed in the review, approval, and fulfillment of Purchase Orders with a Purchase Order workflow*. By outlining all the steps and creating a workflow in Rent Manager, you can eliminate any questions about what needs to be handled, enabling you to complete purchase orders faster. Clearly show the stages and responsibilities for each step of the process by assigning team members specific functions within the workflow.
Utilize Advanced Customizations
In addition to the wealth of accounting features Rent Manager offers, we also partner with several integrated providers that deliver additional AP and AR benefits. By tying into our software, each integration can deliver additional support for your operation.
- AvidXchange – Pay your vendors at no cost! Reduce the paper, invested time, and expenses associated with processing bills and printing checks.
- Beanworks – Ditch the loose spreadsheets, missing information, and manual AP. Opt for a single, seamless solution to tackle your POs, invoices, expenses, and payments.
- CondoWorks – Eliminate manual data entry, automatically retrieve and seamlessly route invoices, and reduce the cost of payment processes.
- Corporate Spending Innovations – Make every type of B2B payment easy and automatic—from invoicing to workflows.
- Flex – Get paid upfront in full, while giving residents the flexibility to pay rent on a schedule that works best for them.
- PayRent – Protect landlords from late and lost rent, provide renters with emergency cash for rent, and deliver tools that improve their overall financial well-being.
- Zego – Collect payments electronically via check/debit card, eCheck, CashPay, check scanning, or Lockbox.
Your team has enough to keep up with—don’t add tracking down monthly bills, sending payment reminders, or other easily outsourced AP/AR processes to their to-do list. Using Rent Manager’s automation tools, your team can save time while creating tailored workflows and templates for your property that keep accounts accurate and up-to-date.
*To learn more about these Rent Manager features, press the F1 key in Rent Manager 12, or the question mark (?) icon in Rent Manager Express to access the Help File and search for these resources.