AP Processing Workflow

This workflow covers the complete accounts payable process from invoice receipt through payment confirmation. All invoices flow through the Python dashboard for preprocessing before upload to Monday.com for tracking and approval.

AP Board Open the AP Board in Monday.com

Understanding the Monday.com Dashboard

The AP Board in Monday.com tracks all invoices through the payment lifecycle. Each column serves a specific purpose in the workflow.

Column definitions:

• Item: Full invoice identifier including entity, vendor details and invoice number
• Person: Team member assigned to process or review the invoice
• Status: Current processing stage. See options
• Recurring: Identifies recurring invoices that follow expedited approval
• Tags: Classification markers. See options
• Priority: Urgency level (Regular, Rush)
• Due Date: Payment deadline based on vendor terms
• Paid Date: Date payment was processed
• Received Date: Date invoice was scanned and processed through the dashboard
• Files: Attached invoice PDF and backup documentation
• NNN: When checked the payment is eligible for reimbursement
• Entity ID: Reference number for MRI
• Notes: Additional comments or context about the invoice
• Utility: Checked when invoice is for a utility bill
• Mortgage: Checked when invoice is for a mortgage payment

Table Views

The AP Board has three table views for different workflow stages:

• Default: Main working view showing all active invoices in processing
• Payments: View for completed payments. Click the Paid button on any invoice to mark it as paid and it will automatically set the paid date to today
• Optimal: Filtered view for Optimal (bookkeeper) showing invoices ready to post

Initial Invoice Processing

1. Scan hard copy invoices
   Front Desk and Office Manager scan all hard copy invoices immediately upon receipt. If more than 20 invoices arrive in a single day, delegate scanning to Data Management for assistance.

2. Save invoice scans
   All scanned invoices save to Z:\Shared\Scans\INVOICES immediately after scanning. Digital invoices received via email also save to this location.

3. Run invoices through Python dashboard
   Process the day’s invoices through the Invoice Preprocessor at end of day. Complete all naming verification steps before moving to upload.

4. Upload to Monday.com
   Upload all processed invoices to Monday.com at end of day or use the Invoice Preprocessor to batch upload the invoices.

Same-day processing

Complete the full workflow for each invoice on the day it is received. This keeps volume manageable and prevents backlogs.

Invoice Classification and Workflows

Invoices fall into two categories with different approval requirements. Use the tabs below to understand each workflow.

Utility & Recurring

Utility and recurring invoices do not require owner or management review before posting.

1. Set status
   Front Desk and Office Manager set status to Ready to be Posted

2. Mark payment method
   Check the appropriate box: ACH, Check, or Held in Office

3. Set due date
   Enter the payment deadline from vendor terms

4. Set priority
   Mark as Regular or Rush based on due date and vendor requirements

5. Bookkeeper posts
   Bookkeeper posts to accounting system and changes status to Posted

6. Controller processes payment
   Controller initiates ACH transfers and check signing during Thursday AP Meeting.

7. Controller confirms payment
   Controller verifies payment processing every Thursday and clicks on Click when paid button. More info →

Require Review

Non-recurring invoices and exceptions require review before booking.

1. Set status
   Front Desk and Office Manager set status to Awaiting Approval

2. Mark payment method
   Check the appropriate box: ACH, Check, or Held in Office

3. Set due date
   Enter the payment deadline from vendor terms

4. Set priority
   Mark as Regular or Rush based on due date and urgency

5. Thursday AP meeting review
   Invoice goes to Thursday AP Meeting with backup documentation attached

6. Approval decision
   President of Asset Management or Owner reviews and either:

   • Marks Ready to be Posted
   • Sets Hold and adds comments for team to resolve issues

7. Bookkeeper posts
   Bookkeeper posts to accounting system and changes status to Posted

8. Controller processes payment
   Controller initiates ACH transfers and check signing during Thursday AP Meeting

9. Controller confirms payment
   Controller verifies payment processing every Thursday and clicks on Click when paid button. More info →

Paper Checks

Checks must be printed and signed on Wednesday. The office manager sends all paper checks after the Thursday AP meeting. All paper check invoices are marked as paid in the Monday AP board.

Status and Tag Management

The status column tracks each invoice through the approval and payment process, while tags classify invoices by payment method.

Status Options

Awaiting Approval Invoice needs management or owner review before posting.

Ready to be Posted Invoice is approved and ready for bookkeeper to post to accounting system.

Posted Bookkeeper has posted the invoice to accounting system (MRI).

Paid Payment has been processed. System automatically enters paid date and removes from active view after 2 weeks.

Pending Invoice is waiting for additional information or clarification before processing can continue.

Hold Invoice flagged by management during review. Check comments for required action before proceeding.

Tag Options

ACH Electronic payment processed through bank transfer.

Auto ACH Auto-Pay electronic payment processed through bank transfer.

Check Payment issued via physical or digital check.

Held in Office Physical check held at office location for vendor pickup.

Melissa Invoice is associated with Melissa, our third-party property manager.

Status Automations

Setting Status to Paid or clicking on Click when paid under the Paid column will automatically move item to the Paid group and set Paid date to today. Items paid 14 days ago will automatically move to the Archived group.

Undo Changes

Click on Activity Log to undo changes.

Priority Levels

Priority determines processing urgency and helps the team manage workload effectively. Set priority based on due date and vendor requirements.

Priority options:

• Regular Standard processing timeline, adequate time before due date
• Rush Shortened timeline, approaching due date or requiring expedited processing

Key Workflow Principles

Same-day processing: Complete all steps for invoices received each day before end of business. This prevents backlogs and maintains accurate received dates.

Consistent status updates: Each team member updates status when completing their assigned task. This keeps the entire team informed of invoice progress.

Documentation for review items: Always attach backup documentation to invoices requiring approval. Management cannot approve without supporting materials.

Thursday AP meeting rhythm: All require review items go to Thursday meetings. This creates predictable approval cycles and prevents delays.

Payment confirmation: Controller confirms all payments weekly during Thursday AP meeting. This maintains accurate records and identifies any payment failures quickly.

Email Distribution

Digital invoices should route to accounting@elliotmegdal.com for centralized processing. Work with vendors to update invoice delivery addresses to this email.