Accounts Payable

1. Accounts Payable Section 3 - Enter New Invoices

2. Now that all vendors are set up, you may enter new invoices.

3. Just to be clear: You can only enter invoices In M3. You may not enter any amounts using statements, collection letters, other correspondences, etc. Exceptions can be granted to vendors which only issue monthly statements. In this case, statements will be acceptable.

4. Click the third (Invoice) tab.

5. You may choose your vendor by clicking this drop down bar.

6. Click “New”.

7. “Invoice #” field will turn yellow.

8. Note that term date, account number, and GL number have all been completed for you, since you set them up during vendor set up process.

9. Enter invoice number here.

10. Invoice number shall be entered “as is”. For example, invoice number “00-1-23inv” shall be entered as “00-1-23inv”. If no invoice is provided, use invoice date as invoice number, in the format of MMDDYYYY. For example, if using 02/15/12 as invoice number, enter it as: “02152012”.

11. Please refer to Instruction – Invoice Numbering that your trainer provides you for detailed instructions.

12. Enter invoice amount here. This amount must be the current amount due. If there is a past due amount that is not already in M3 you must get a supporting invoice to enter in M3.

13. Enter accounting period date here.

14. Accounting period date determines which financial period (month) this invoice falls into. We recommend all properties batching their invoices once per week on every Friday*. Even though you may process invoices any day of the week, you will use the upcoming Friday date as period date.

15. Take February 2012 as an example, your accounting period dates will be 02/03, 02/10, 02/17, and 02/24.

16. Home office, however, closes its AP a few days early before the end of each month.Watch out for the Accounting Close Calendar via email for the exact date each month.

17. In this example, you will batch additional invoices since 02/24 on 02/27 as the last batch for the month.

18. Back to M3, enter invoice date here.Let’s say the invoice date is 02/01.

19. Since the term date for this vendor was set as “Invoice +7”, M3 automatically update the due date to 02/08.

20. Enter GL code here.You can also change the default GL code here if it is not applicable to this invoice.

21. This description field is optional; however we highly recommend properties to enter meaningful information here of what was purchased.

22. Any information entered in this field will be printed on General Ledger Detail report. It means to assist the General Manager and home office in identifying what was being purchased/consumed, without looking for invoice copy. With Utility bills please enter the time frame that the bill covers. This helps the accountant see what remaining days of that month need to be accrued.

23. Enter the amount to charge to this GL code.Notice the number on the lower right corner is currently red.

24. M3 recognizes the number on top equals the total of all the GL codes, the number at the lower right corner now turns black.

25. You may now save this invoice by clicking “Save” here.

26. In this example, since the due date is already past (compare to period date), M3 displays an error message, reminding you to double check all dates.

27. If all dates are in fact correct, you may click “Yes” here to pass this screen.

28. This invoice is now entered, with a status of “pending”.

29. If you need to modify or delete a pending invoice, you can click “Edit” or “Delete”.

30. You can only modify or delete a pending invoice. Once an invoice is posted or even paid, M3 will not allow any modification or deletion of such invoice. If you need a posted or paid invoice to be removed, you will need to contact your Corporate accountant to void it.

31. The next training section explains how to process petty cash, expense reports, check requests, and manager’s checks. Training section 6 shows you how to attach invoice images to M3, and generate and submit AP batch reports.