How to Reduce Your Accounts Payable Time

AP Time Builds Up

How much of your week as a community manager is spent managing finances?

Accounts Payable, or AP, is a part of the business all industries must handle, and community management is no different. When managing a property or community, a major responsibility is billing and paying vendors. This can turn into a time-consuming process with the number of vendors a community uses, which can be difficult to keep organized. However, paying your AP on time is important and a great responsibility. Failing to manage them correctly can cause major problems for your community. Fortunately, TOPS has a solution for community managers.

Reduce Your AP Time Through Automation

Accounting Software For HOAs
The best way to save time on accounts payable is through the best available software.

TOPS is designed to make your monthly financials easier than before. A major step in saving time is through automating the accounts payable process. Doing it by hand, not only uses more time, but it is easier to make a mistake in accounting. This can lead to issues between the community and vendor and doesn’t reflect well on the property. In addition, it can be harder to stay organized using traditional bookkeeping to manage your AP and other finances. With TOPS, your accounts payable is automated so you don’t worry about inputting the wrong amount or missing a payment. Automation allows you to pay any fee on time without extra effort from the community manager. Simply set up the payment and frequency you want to be charged. This saves you extra time and keeps you ahead on billing.

TOPS VendorAlly May Be the Solution for You

TOPS makes accounts payable with your vendors easier.

As we stated before, vendor management is very time consuming. Part of this is because it is often handled manually. It’s also important it’s handled correctly to maintain a positive relationship. TOPS is here to help with this through our new feature, VendorAlly.

VendorAlly is TOPS accounts payable automation solution. VendorAlly is part of the TOPS [ONE] package and comes at no additional cost to [ONE] users. It also comes at no charge to the association, vendor, or management company. VendorAlly is a global vendor portal that allows the community manager or management company to handle all their vendor billing in one convenient location. This one portal allows you to handle vendor billing and payment without the hassle of doing it by hand. Vendors typically work with more than one management company, so VendorAlly allows them to manage them all from one easy-to-use system. This saves both parties time and effort.

How Can Automation Help Your Community?

The biggest benefit of AP automation and VendorAlly is time.

We give you time back in your day to focus on the other aspects of running a community. It can also reduce a community managers stress and make their job more enjoyable. This is a benefit to the manager, vendor, community, and residents. See how VendorAlly can help your community today.

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