MRI Accounts Payable

A Complete End-to-End Efficient Solution

From tracking invoices to printing checks to dealing with vendors, the Accounts Payable system streamlines procedures across your entire portfolio. Developed by the experts, this intuitive web-based solution minimizes manual intervention while maximizing accuracy and productivity. Flexible reporting tools leverage information to support smarter negotiation and decision making. No matter what processing method you choose – cash, accrual, or a combination of the two – Accounts Payable can help you improve cash flow and lower costs as you gain greater control over the accounts payable process.

 

Fast, Accurate Invoice Management

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  • Precise Data Entry – A single spreadsheet-like entry screen, with pop-up reference windows, minimizes error and maximizes throughput. To ensure accuracy, all invoice account numbers are automatically checked against general ledger information.
  • Payment Flexibility – Quickly determine how invoices will be paid by selecting any combination such as entities, due dates, due periods, or an individual invoice. Split payables across multiple properties or account numbers.
  • Automatic Functions – Intuitive software prompts you for each vendor’s defaults, then automatically calculates discount and payment terms. Any vendor charges are instantly allocated across multiple entities and general ledger accounts. Vendor insurance certificates are tracked automatically. The system instantly calculates 1099s as well.
  • Overpayment Protection – Accounts Payable features multiple settings to automatically check for duplicate invoices against paid and unpaid items. In addition, invoices can be created based on full or partial receipt of items ordered.
 

Automated, Paperless AP Approvals and Expense Monitoring

MRI Accounts Payable property management accounting solution
  • Expense Overview – Control expenses by viewing costs against budgeted amounts, both actual and pending. Drill into expenses by account, building, property, or regional manager. Review historical expenses to compare period expenses against historical costs.
  • Automated Approvals Routing – Automatically route purchase orders and invoices to the correct approver, or multiple approvers if necessary. Forego paper from the time the invoice is received to the time the check is issued.
  • Notifications and Proxies – Get email notifications whenever a purchase order or invoice is ready for approval. Assign proxies ahead of time for when you are unavailable.
  • Flexible Setup – Set up MRI Expense Control according to business process rather than altering process to match software. Multi-step and over-budget approvals make setting up Expense Control according to your needs an easy prospect.
  • MICR Check Writing – An integrated feature of Accounts Payable is the ability to quickly create MICR-encoded checks. To cut costs, use the same blank check stock for all bank accounts.
 

Streamlined Reporting and Data Sharing

Accounts Payable real estate management accounting
  • Comprehensive Reporting – Extensive report options include check registers, cash requirements and reconciliation reports, vendor history, year-to-date disbursements by vendor, and aged open payable reports. Reports can be generated for any date range at any time and all report parameters can be modified to fit your needs.
  • Anywhere Data Access – Seamless data flow among MRI modules means you can create open invoices for management fees, rent refunds, and security deposit refunds at a moment’s notice. All changes are automatically updated across the system, reducing data entry and minimizing error.
  • Easy Export – Export report data seamlessly to third-party spreadsheet or database software for “what if” analysis.
 

Total Control with Flexible Options

Real estate accounts payable accounting software
  • Controlled Decentralization – You choose the level of processing that is allowed at each location, from data entry all the way to local check writing, with or without home office approval.
  • Multiple Bank Account Options – The system enables centralized disbursements to help in maintaining multiple bank accounts for each entity, as well as to support intercompany accounting.