What: This article explains the steps for recording invoices so that vendors can get paid in a timely manner.

Who: Treasurer, MonsterCorps, Officers

Why: We need to ensure billing records are stored properly for at least three years and we want to avoid paying vendors late.

Pre-Steps

• Most often, bills are approved by the Executive Director and then sent to the Treasurer via e-mail. If that has occurred, proceed to step 1 below.
• If the Executive Director did not approve an invoice, contact them to ensure the bill is valid.

Paying One Vendor at a Time

Exceptions: Wise, Aaron Baaraza (see below)

1. Zapier will ping the accounts-payable channel in Slack when a new bill image has been stored in the Vendors folder. If a bill image is not included in the e-mail, save the entire e-mail thread as a pdf.
2. Search the vendor profile in Quickbooks and/or the W9 folder to ensure we have a completed W9 for this vendor. If not, create a task in Asana for the Treasurer to request a W9 from the vendor
3. Create the bill in Quickbooks by clicking the New button in the upper-left corner and then selecting Bill under the Vendors column.
4. Once you reach this screen, complete the following fields as follows:
   1. Vendor – record Vendor name here
   2. Mailing Address – it’s not necessary to add anything here
   3. Terms – set at Net 30
   4. Bill Date – use the date on the bill image or service date. If they are conflicting, choose the earliest.
   5. Due Date – this field should be automatically updated
   6. Bill No – use the number or reference ID provided by the vendor. If none, leave this field blank.
   7. Permit No – leave this field blank
   8. Tags – leave this field blank
   9. Category – use guidance from the vendor’s payment and sources or the treasurer’s email to select the correct account code
   10. Description – use the description from the invoice
   11. Amount – record the total bill amount
   12. Billable- leave this field blank
   13. Tax- leave this field blank
   14. Donor- leave this field blank
   15. Class – if the category code begins with a 5, select Program. Otherwise, select Administrative
   16. Memo – copy the description from the Description above
   17. Attachment – add the invoice image here
5. Save and close. Repeat this until all invoices have been recorded.

Paying Two Parties

When paying vendors outside the U.S., we use a service called Wise. This processes the payment into the required currency and charges us a fee.

1. Download the bill image and the Wise receipt and store them in the Vendors folder.
   1. If a Vendor’s name is not present, create a new folder
   2. If a bill image is not included in the e-mail, save the entire e-mail thread as a pdf.
2. Create the Journal Entry in Quickbooks by clicking the New button in the upper-left corner and selecting Journal Entry under the Other column.
3. Once you reach this screen, complete the following fields as follows:

1. 1. Journal Date- use the date on the bill image or service date. If they are conflicting, choose the earliest.
   2. Journal no.  – journal date in YYYY-MM-DD format followed by the word “Invoice”
   3. Account (first line) – use guidance from the treasurer’s email to select the correct account code
   4. Debit Column – record the total bill amount
   5. Description – use the description from the invoice for the largest line item
   6. Name – type “Aa” until you can select “AARON ENRIQUE BARRAZA SANCHEZ”
   7. Class – select Administrative
   8. Memo – copy the description from the Description above
   9. Account (next line) – select account 6003 Bank Charges
   10. Debit Column – record the total fee amount
   11. Description – “Transfer fees”
   12. Name – type “Tra” until you can select “Transferwise”
   13. Class – select Administrative
   14. Account (last line) – select account 1.07 BoA Checking
   15. Credit Column – record the total of the transfer fee and Aaron’s fees
   16. Description – copy from Journal no. (step 2)
   17. Name – leave blank
   18. Class – leave blank
   19. Attachment – add the invoice images here for Aaron and Wise.
   20. Save and close.