Invoice - Action Item Workflow (Basic)

This article describes the linear process from an invoice entering Vantaca to being paid out of Vantaca.

1. Invoices land in Vantaca via manually creating an Invoice action item or an email hitting an Invoice@ email that flows in to Vantaca.
2. OCR will attempt to parse information from the Invoice image.
3. AP will code the invoice based on the attachment.
4. AP steps it to the Manager to code if needed. 
5. If the invoice is completely coded, it will check to see if this invoice has already been paid, if not, it will land with the Manager for their Approval - Accounting>Approve Invoice
6. The Managers approval will send it forward to the Board (If indicated via the Association>Settings)
7. After all approvals are submitted, it will land with AP Pay for payment - Accounting>Pay Invoices
8. AP marks the selected invoice to be paid.
   1. If Pay Type = Check or In Office Check - a check will be sent the Mailroom > Check Queue.
   2. If Pay Type = ACH - an ACH File will be passed from Vantaca to the integrated Bank. (**Only if the vendor ACH Details have been entered - Vendors>Payment Method)
   3. If Pay Type = Auto Draft - No Check or ACH will be issued, the expense and payment will be recorded. 
9. Mailroom > Check Queue to cut any checks in house.

FAQ

Q: How can I see how much time has been spent on each step within an invoice action item for a given association?

A: Use the Action Item Lifecycle Performance Tool in Vantaca IQ.

To access the tool:

Navigate to Core Platform > Associations > Analytics and select the Action Item Lifecycle Performance Tool.

What you can track:

Progress over time (bar chart): View the average time action items spend in each step. Display averages in days, hours, or minutes to identify bottlenecks and project completion times.

Current status (donut chart): See how many open items are currently in each step. Click on any step to view a detailed list of items in progress.

Note: If Vantaca IQ is not enabled in your database, contact your CSM to get started.