Bill pay in Topkey

[0:00] Welcome. We're going to go ahead and get started here with today's webinar titled How to Get the Most Out of Top Keys Bill Pay. So, before we get in, just a little bit about myself. My name is Jason. I'm senior manager of financial technology consulting here at Topkey. Work primarily with our customer success and customer support teams. So, that's every day in the trenches with customers. personally responsible with onboarding several hundred of y'all. So if you're an existing customer of mine maybe maybe you're out in the audience and [0:34] maybe you're out in the audience and we know each other good to see you thanks for joining otherwise if you're a Topkey customer we're happy to have you be getting into a lot of details today around bill pay specifically but just want to go into an agenda first what we're hoping to cover with our time together so always we want to start with the Topkey story make sure that we have a baseline understanding of who we are why we exist and you what we're really looking to solve and then we'll jump into bill pay as a feature itself. How do we actually make the bill pay process effortless, simple to use and automated and the fun [1:12] simple to use and automated and the fun part where we get into the actual meat of things where we jump into an actual demonstration. So, I'm going to be utilizing today to really get into the weeds and talk about how to get the most out of bill pay in terms of walking through all the different setup items and all of the ways that you can utilize the tool. We always want to make it interactive as well. So, we make time to bake in some questions and answers [1:34] to bake in some questions and answers towards the end, but you're welcome to utilize the chat throughout the call today. So, just make sure as you're thinking about things, something comes up, send it into the chat there just so we have access to that. by the time we get to the end, I'll be sure to take a look at that if that involves just a quick answer or something we can jump back in and demonstrate and try to make it interactive in that way. So, Topkey has noticed the challenge unique to our industry around short-term rental finance, right? We all know how complex that is. every month. Basically, not only are you creating a [2:05] Basically, not only are you creating a companywide P&L, but all of the different owners that you interact and have contracts with are essentially separate businesses based off the homes under management. So, you can think of all the statements you're creating every month as separate P&Ls, really multiple businesses within the business. And there's a lot of room for error there, right? You could run into things where there's cash leakage, messy financials, or even just added labor hours. is an extra cost to use makes these types of tracking difficult. [2:36] of tracking difficult. And a portion of that that leads to those problems is all of these tools that you see here are likely utilized today or are very familiar with are essentially great on their own, but they don't really talk to each other in a way that's cohesive. It's very difficult to get information to move across each of these tools. these tools. Especially today, we're going to be focus focusing on the AP bill pay portion towards the bottom. So things like a bill.com. And why does it matter? Well, you can look at the statistics here. Based off [3:09] look at the statistics here. Based off of, you know, an average property manager, you may even be running up to almost 30% of profit lost in financial friction. So that's just in leakage. is just in lack of visibility in a lot of ways, but also just time loss and extra labor and payroll costs, time spent on bookkeepers, but also the time you lose to closing out the books each month. So, Enter Topkey, we're the single integrated platform where we're really the operating system for the entire back office for short-term rental finance. So, there's a ton of different features on here today and we always have a [3:45] on here today and we always have a skills training that does go in depth. So if you enjoy today or have extra questions or want to learn more, there's going to be future sessions that take place each month moving forward. So we will be covering all of the other options there. Today we're going to be focusing on this one here towards the left for bill pay inside of Topkey. Okay. Okay. So think about it in this way. You're not really managing money across all of the different applications because we are that one system that sits in the middle here. We're able to capture all of the payments into the connected [4:18] of the payments into the connected system, right? What does that mean? Well, our infrastructure allows us to pay vendors and owners, contractors, whoever you need to pay, transfer money to directly inside of one single interface. interface. We're built specifically for the short-term rental market. So, that means that we're uniquely paying attention to details that apply to us. So primarily filling out what needs to be billable, making sure we're constructing statements accurately and then attributing any type of spend that's related to a certain home against that home. We also have a number of AI agents [4:50] home. We also have a number of AI agents that sit on top of Topkey as well that are learning things constantly about your property assignments, all the different workflows that you're utilizing and the information that needs to both get into your PMS as well as your accounting ERP. And it's already sort of pre-filled. We're doing it in a single interface that allows us to do that ahead of time. Don't just take my word for it, though. property managers do love us. We're pretty proud of our customer retention and customer satisfaction rates. See a number of different logos over here on the right of, customers that we do partner with. There's a number of [5:23] partner with. There's a number of different property managers under management. Today, we're well over 300 property managers that we work with directly. over 45,000 properties under management and this spans a large group of property managers of all sizes. So we're able to accommodate smaller groups that have a handful under management to the large groups who have hundreds or even thousands of units. you know we accommodate the AP flows for customers that match all those sizes. Okay. So, let's go ahead and talk a little bit about what we'll be demonstrating here through the demo portion. So, as I mentioned, we're going to keep it pretty simple here as far as the stages. I want to break it down to three areas for us. First one being [6:06] three areas for us. First one being setup. First thing you'll do is if you're meeting with myself or another account manager here at Topkey is we're going to want to understand what are you trying to accomplish. We'll talk a little bit about what the setup looks like because we want to always set things up perfectly on the first pass so you're not having to come back. Although the option is there if we want to continue to iterate. Show you exactly how to do that. Step two is the process. So when you're actually in there dayto [6:28] So when you're actually in there dayto day, what does a frontline user or somebody inside of Topkey do once they're in there? How does it actually function? What does it look like to create a bill? How does what does it look like to pay that? We're going to walk through that as well. as well. We're also going to talk a little bit about reporting. So this is important to us because we want to make sure that we have an oversight as far as where bills are at in flux, what are we paying, as well as how much have we paid, what's outstanding. As far as real world edge cases go, we're going to do a little bit of chatting through that throughout the [7:01] of chatting through that throughout the presentation today. So you can feel free to also share those in the chat portion there because if there's anything unique to your business or something maybe I haven't quite covered, feel free to throw that in there just so we have a a chance to be completely thorough and look at that together. Okay, with that we'll go ahead and close this out here and jump over into top keys. I'm go ahead and make sure that this is refreshed here and ready for us to go inside of my account today just so we're aware. Going to this homepage. I'm [7:35] aware. Going to this homepage. I'm going to be utilizing an account here that's connected to Guesty. Don't let that distract you. We connect to all major PMS systems. so we'll be you know connected into that. It won't be won't be any different from how you'd be processing in here. This is really just for the sake of example. So I mentioned setup. Everything takes place inside of the bill pay module which is really easy to find over here on the lefth hand side. It's labeled bill pay and we capture it in a few different subpages. Now bills is where all of the action is going to take [8:06] all of the action is going to take place. We also have the vendors page and inbox as well as a section for owner payments which is going to follow a very similar flow. We're not going to spend any time there today but you can utilize that as you know a place to pay owners once statements are completed. The primary focus for this is going to be around AP paying of vendors. You'll see here from the overview page that we start off in a draft. And from left to right, you can use this to basically follow the pathway of an invoice that you may receive from draft [8:39] invoice that you may receive from draft where it's most malleable, where you can edit things, where you can make sure that everything is buttoned up and ready before it is submitted for another portion, another member of your team to review it and needs approval. From there, it will move through an approval stage to a ready to pay status where you can do a final check, make sure everything looks good, and then submit that for the formal release of funds as it travels over into that completed state. I'm going to go ahead and move down here to vendors because without any vendors [9:11] to vendors because without any vendors in the system, we're not going to be able to actually pay anybody. So, this is a formal portion of the setup process that we would walk with you together. Couple of callouts that you'd find here on the vendors page is that it's super simple to navigate. We're going to show you the active vendors list. So essentially this active vendors list is anybody that's available for selection to pay. From here you can see things like the name. If there's any existing bills, we're going to give you a quick hyperlink here. For example, this Airbnb vendor has sent us a bill. There's [9:43] vendor has sent us a bill. There's actually one that's ready to pay. We'll give you a quick link to it. make it simple depending on if you're accessing it from here or even another page inside of Topkey. of Topkey. You can set rules like preferred payment methods, whether you're going to be paying via a even sending a check through Topkey. Then other details are captured out to the right. Now the AC status itself is going to come into play here in a second. but just want to make sure that we're fully aware. In order to add a vendor, you can do it from multiple different ways. You see an [10:14] from multiple different ways. You see an API import right up here. In this case, we can import vendors from my connected PMS guest, but we can do the same from all other major PMS providers, things like a streamline or attract or Hostaway and so on. We can create a new vendor manually by clicking on new vendor vendor or through the actions column, we give you the option to run an import CSV. Also not shown here is the ability to import vendors from your connected ERP. So if you have a list of vendors that live in say QuickBooks, we can actually open that up and pull that list in as well. So we give you a ton of different [10:50] well. So we give you a ton of different options and the reason being is there may be a different place where those vendors do live today before you get started. So we'll give you the option to pull them from where they currently exist just so we can populate with the data we do have. to show you quickly the import CSV option. It's extremely simple. We'll give you a template here. You can just download the CSV template. It's going to have a number of columns in there that mimic what we just saw on the previous screen. Fill out all of the details that you know. Simply click on choose the file and then import. And what'll happen [11:23] file and then import. And what'll happen is it'll give you a quick preview and upload that list so that it appears here. here. If you're going to be editing and uploading lists once a pre-existing list is there, it's important to note that the name field specifically is what's driving that update. So looking at this here, there's an Airbnb and there's an Airbnb old. But if I were to create a vendor in that list that's Airbnb with a case-sensitive adjustment, so capital BNB, it would treat that as a unique vendor. So it's important to note that that needs to match in order for it to amend an existing one or create a new [11:58] amend an existing one or create a new one. one. You may also see this archive section here as well. That has to do with this trash can icon over here on the right. So you'll see Airbnb old. This is old. So I actually want to go ahead and archive this. So this deletion step is what shifts it out of the active queue. Again, that's what you're choosing to pay. I'm moving it into the archival page. page. Notice that you don't lose access to these. We highlight those because there may be a reason for them to live in this archived state. could be that maybe there's a name change, maybe there is [12:31] there's a name change, maybe there is you know you're no longer doing business with this vendor, right? We want to pull it out of the active list. Whatever the reason is, we show this here because we want to make sure that we're still giving you access to any historical spend that occurred. And this is the same way for you to access that. If you make a mistake, you have this little reticle over here that's green. You can click on that. It actually just restores it to the list. I shift back over to active. You'll see it back there on the list. Real simple. So, let's go through a quick exercise here of creating a vendor together. I'll [13:05] here of creating a vendor together. I'll go ahead and click on new vendor. And it's going to give you this popup here. Now, let's go ahead and create a sample together. You'll find that this is the only required field to create a vendor. Everything else here is going to be optional because it either is information you don't have or information you might not need. The only thing really required for us is going to be once we go through the process to submit and pay a vendor that we have information to pay them. All of that is found towards the bottom [13:39] All of that is found towards the bottom here. You'll find that a information is available so we can pay them from banktobank transfer. Address information is available if we want to send them a check. And a tertiary option is to input wire information. wire information. All of these are accessible as payment methods through Topkey. I'm going to demonstrate that for us as well. Fill out what you can, but also note one important section here is for us to determine if a vendor is going to be labeled as $1099. So, as we make payments throughout the month, [14:12] payments throughout the month, throughout the year, we're constantly calculating how much each of these vendors have been paid and keeping track of that. If you were to require, say, a W9, W9, we can enforce that a vendor provide this information for us to have on file. So come 1099 season, Pocky is already prepared to generate any relevant 1099s, be it NEC or miscellaneous for the vendors that have reached that yearly threshold just so that can be pushed along to your filing system. I'm going to go ahead and close out of this because I have a few down here that I've already gone through the process for. For example, Jason's plumbing. So [14:58] for. For example, Jason's plumbing. So let's click on Jason's plumbing. open it up. up. First thing you'll notice on the vendor profile is that there are a number of tabs here and other information out to the right. So the first tab we see by default is the bills tab. This is going to be a quick overview of all historical bills ever sent to this vendor. This case you could see a number of those dating back quite a while. And there's information on every bill that might be helpful to us. So we've captured information like a unique bill ID reference. You can see here under bill [15:29] reference. You can see here under bill ID ID invoice information, but also references that you're going to want to know like the property. We will send remittance emails as well once payment is sent. And you can come back in here and resend those to anybody related to the vendor here, you know, should you need to resend those. On the right, you're going to get a quick overview of the banking information that we've provided. And down on the right, there's even an audit trail. So you can see if you are making adjustments, if an employee has come in [16:01] adjustments, if an employee has come in here, or even if the vendor themsel has come into here because we have two different ways that we can do that. Under the contacts tab, we have a method here to add an email andor phone number of someone related to this vendor. It's definitely something we'd recommend. If you're a contact, you have the option to star them. This makes them preferred in the context of Topkey, which means it opts them in automatically to any email communications. If I'm going to pay Jason's plumbing, both Matthew and Jason here are going to receive a payment remittance. The payment's on the way. If [16:35] remittance. The payment's on the way. If I just wanted to send to one or the other, I'd simply just check the star next to who wants to receive that. You can add as many contacts as you need to. Come into these three vertical dots. This is where the editing comes into play. So up top you see send a link via SMS which should be a text, send a link via email. And essentially what this is is Topkey is able to take all of the payment information that we just saw on the previous screen. If I click edit here, it'll pop out again for us and send this as an encrypted link that's [17:09] send this as an encrypted link that's valid for 24 hours to that vendor contact to put that responsibility on them. So, if I don't have the tax ID, if I don't have that W9, make it super simple to just send this to them and make them put that information in. There's an extremely high adoption rate to this because if you want to get paid, of course, you want to make sure that your information is on file. And because of that encryption, you can see that it masks this information here. And then that's hidden for the purpose of security. Now we do store it of [17:42] of security. Now we do store it of course to pay but that leaves it there masked in the system there just so that's there in the event of us needing to make an adjustment there you of course can come in here based on permission we can grant different users permissions to come in here and edit these to make that adjustment or again send a request to a customer just for them to fill that information out. What it looks like on the vendor's end is they're going to receive a secure AC link email just like this and it's going to address them directly. In this case, it's saying, "Hey, Jason, you know, [18:17] it's saying, "Hey, Jason, you know, we're securely inviting you to enter your payment information for and then it's going to fill in the name of the vendor." And here it says Guesty, but that's the name of your account. When they follow this link, it allows them to put that information in directly and then updates in here automatically. There's another option here that says invite which allows us to actually come in here and send an invitation directly to this contact to log into what we call Takis vendor portal. I click on invite. [18:51] Takis vendor portal. I click on invite. This is a prerequisite to have a contact first because we need to know who to send it to. It'll fill in the information that we already have. Of course, you can edit it here, but you'll find that there's a role simply right out of the box just called vendor. This is all we have to do to assign to them. Click on to send the invitation, and it's going to pass that along to them. You'll see anything pending in the [19:13] them. You'll see anything pending in the pending invitations tab here inside of her user settings, which a quick way to get to that is to come into the drop down over here and click on settings. And you can click into user user roles or manage users rather. Or you could search over here on the top right. Type in manage users. It navigates us back here. When a vendor logs in, they have a truncated view. They only see the vendor section here with the option to access their page. [19:52] option to access their page. From here, they're able to make edits to their payment information, all captured inside of the audit trail as well. We put the security in place so that they are only going to see information tied to the vendor that they themselves are assigned as a contact. So, they wouldn't see any other vendor information. They wouldn't see any bills information or or any other functions inside of Topkey is completely set up in that way. Another function of setting up would be inside of our settings page. [20:25] inside of our settings page. You'll find a few options here. Two we're going to focus on today. First being approval workflows and the second being bill submission rules. So we'll go ahead and start off with bill submission rules. And you'll see a number of different criteria here that you can choose to choose to essentially set up and enforce to shift something away from that initial draft tab. If you already forgot, we'll jump back into that to show you those statuses again. But these bill submissions here essentially are requirements before they can move out of that phrase. So what that means [20:57] out of that phrase. So what that means is I can enforce that a property is coded to every bill that makes its way through my bill pay tool. Meaning that every line is accounted for, every bit of spend is accounted for at the property level. We can get granular as well if you're thinking on the accounting side. So the paying of the bill is essentially independent from our ability to sync the bill into your ERP or syncing it into your PMS. But if we want to enforce it up front, we can require things like a GL code, right? Or [21:31] require things like a GL code, right? Or maybe it's the accounting class. This is completely optional to you. Finally, we do have the ability to also require attachments for any invoices that are emailed in Topkey's bill pay. This is at your discretion depending on how you tend to receive emails. I'm going to go a little bit into the different options here, but we're going to have an option to email in. And if we want to enforce that a document be attached for us to have on file, that's [22:02] attached for us to have on file, that's why you would enable this. Some arrangements with different contractors or vendors may include where they simply just email you plain text and they say this was for a service at this home on this day for this amount. We can handle that. but if there was not an attachment there, it it would fail to process. So this is kind of the nuance there. Definitely as you're going through setting that up, talk to myself or whoever your account manager may be before you go into those details. Let's talk about approval workflows. [22:35] Let's talk about approval workflows. You'll find here that a two-factor authentication is always tied to this. So, let's go ahead. I'm going to send myself a text here while I'm chatting through it. Hit the code. the importance of this here is keeping security around who's amending this. We're going to be able to put into place an activities column here as well. So, let's tab over to bills. that essentially reviews any time that adjustments are made here. We would always recommend keeping a separation of duties between administrators or different employee types so that u you [23:09] different employee types so that u you know the controls are there. U however we do also want to make sure that we capture any changes here to the activity on these workflows just in case we need to go back and audit that. This is all important to have. So you'll see that that's there by user and who's making adjustments. Jumping into the approval rule itself, there's a couple different ways we can go about it. Once you go to create an approval rule, the main driver is the dollar threshold. So, you can see here I have two different rules put together. The first one being anything up to [23:42] The first one being anything up to $1,000 is going to flow through automatically to this user keys the user. And it's going to apply to all bills. bills. I do have a second criteria here for anything $1,01 and above up to that 50,000 mark. It's actually going to go to myself, but I currently have the conditions set to all bills. I actually want to edit this. I'm going to click on edit. edit. And to break this down, you can put a modifier in place that either enforces all of the users that show in this list or simply any of them. In the case I [24:16] or simply any of them. In the case I have one person, just myself, the modifier is not as important. However, if I wanted to also add the other Topkey user on there, I could certainly set to any so either of us could go through the process of issuing an approval. an approval. And the reason I clicked on this is because I wanted to showcase the additional optional conditions you can add to these. So, you can start to think about all the different controls you may have in place today or may want to put into place that allows us to get different eyes on different types of bills. we support that. So if [24:49] bills. we support that. So if different vendors require different people to sign off on, maybe it's a different department or a different geographical region or someone responsible for certain properties, this is all optional and can be included here as a part of that flow. In this case, I'm going to go ahead and throw a couple of properties on these and save it. Now, once those conditions are met, there's actually no step needed to take for you other than the submission of the bill past the initial draft stage. Because what's happening is we're [25:23] Because what's happening is we're looking at the criteria on the bill. If it meets any of these, it's going to go ahead and apply that approval rule. If it falls outside of these, there's going to be no approval rule applied to it, and it'll just skip straight to that ready to pay. So very important that when we're going through the setup that you know all potential options are accounted for. accounted for. Finally on top we have some other modifiers here. We want to put in further controls beyond the approval. Things like locking records after approval. This is definitely a recommendation of ours. This allows [25:56] recommendation of ours. This allows you know bills to be in a final state once they are approved prior to payment so that no final checks or final edits are really being made after an approval is issued kind of invalidating the purpose of the approval to begin with. of course optional here but the purpose of that is just to make sure that everything is really being finalized at that approval step. I also have enabled here the ability to require bills be in an approval approved state before syncing to an accounting integration. So essentially what I'm saying is I don't want to send any bills [26:33] saying is I don't want to send any bills into my QuickBooks until it's formalized, it's finalized, and all the coding matches because what happens is if we send it over before that and it needs retroactive editing, I've just created duplicate duplicative work for myself and we want to avoid that where possible. If we want to add any other tertiary rules here, we can go ahead and actually go back to that. We're going to actually clone this here and just request approval from myself or anything that falls outside of these. [27:07] or anything that falls outside of these. One thing you're going to note is due to this overlap, we're actually taking that into account. We're going to give you a quick flag that says, "Hey, if there's an overlap here between any of these rules, we're looking at the lowest number here to take precedent ahead of that." So, you're able to post those. We also give you a quick banner up top that just says you can only actually have a single rule apply at a time. So, we're [27:30] single rule apply at a time. So, we're looking at these checkered top to bottom just to make sure that we're going in order here. So, something to evaluate as you go through the process. Okay, that's essentially our setup. So, let's go back over into bill pay and talk a little bit about what it actually looks like to create a bill. What does it look like to code a bill or even go through the process of paying? So, I mentioned here we're in draft and we're going to go ahead and default to the period that you define ahead of time. So, right now we're just looking at the last 90 days based off created time and [28:04] last 90 days based off created time and created time just means created in top created time just means created in Topkey. So, it's not necessarily the date key. So, it's not necessarily the date of the bill. It is a column that we are going to take into consideration as well as due date and this will come into play as we're looking at things like our AP aging. aging. I come over here to the display column and this is also all across Topkey is this display column tells me which of [28:25] this display column tells me which of these columns displayed on the screen are important for me to see and have access to the bottom there. You see them all in blue. I can actually come into these and remove some of these and it's going to move those column. It's actually going to delete those columns for me. for me. And I can also set a default date range. So if I want to tighten this up to let's say 60 days, just does a quick refresh for us. And every time I come back to this page, that's my default. In addition to that, you have a number of other filters that show here as well. So the real importance for this is all [28:58] So the real importance for this is all of the variables shown on the screen that apply to a bill can be filtered out. out. We keep all of these in here in perpetuity for the purpose of you to report upon or find or drill down to. So, we'll give you access to filter by any of those as you'd like. If I was going to create a vendor here or cleaning vendors, let's do this just to demonstrate. demonstrate. I'm just applying a single filter in this case, but you can apply multiple. And give it a save. and we'll just say cleaning vendors [29:33] cleaning vendors to be submitted. If I were to clear all of these, I can come back to any save search extremely simply by just tapping V on my keyboard. It's going to pull up a quick sidebar there. And they're numbered. So if I have multiple, I can just click the number on my keyboard as well to quickly apply. I'll just click one in this case. It applies my save search. You see how how easy it is to come back to those same searches or same reports that you'd [30:06] same searches or same reports that you'd find yourself running multiple times without having to click into all those filters. You just apply it real easy. If you want to go the manual path, you can just click on actions over here and just click on the save searches option down at the bottom. Some other functions available to you in the actions column are to download what's filtered out on the screen into a CSV file. So we have two options there where it says same row or separate rows. And that basically means if there are several lines on a bill, do you want to compile them combine them or do you [30:40] compile them combine them or do you want to maintain their separation? And we can also download any documents into a zip file for you. So this would be a collection of your invoices. Now the creation process. So we can send by email. If I were to click send by email here, it's going to give me a quick popup. And this is what we refer to as the secret email address. Now, this is secret or hidden inside of Top this is secret or hidden inside of Topkey because it's randomly generated. You Key because it's randomly generated. You can see here in this case, Eagle 1886 that this is completely randomized [31:14] that this is completely randomized and would be unique for your account as well. But really the purpose of that is because it allows us to refresh this if we ever find that these are compromised in any form. It's very easy for us to change that. A typical AP inbox or invoices at is a lot harder to filter out noise. You can reset that through this reset button down here. but pay attention to the at bills.takei domain. So if you were to forward your bill to this email address, it's what would cause it to process and populate directly here into the draft tab. And [31:48] directly here into the draft tab. And that's essentially it. Now, what we do recommend is keeping this saved somewhere so that you still have that first line of defense in your AP team or whoever's managing inbound invoices as you receive them from vendors to be the filter to be the one who forwards it along or sets up a forwarding rule. we just want to make sure that there's still that layer of security before it hits Topkey that someone is making sure that it's a proper invoice. We're going to let you know when bills are processing. You get a second email for that as well. [32:20] There's a couple different options. I'm going to actually go through these back into the account here in just a second, but just three different options. Is if we send in an email, it'll detail the subject line here. You can see that the subject line was blank on this first example and this second example was for Jason's plumbing, but it's going to let you know that we've received it. We're processing it. And essentially what that means is we have a number of agents and OCR looking at the document to populate all of those coding fields, the header information and even the line level details. [32:55] Some of those examples include what we see here and we'll take a look at this top one in line here for Premier Cleaning. Cleaning. But before I do, there's the inbox. So, when you send an inbound email to the bill pay inbox, this inbox is a way for us to essentially review all of the activity that came in via email. You're still working out of the bills page, but this lets us know who's sending it in. What are the subject lines? Are any of these failing to process? You see that two of these went in. These [33:28] You see that two of these went in. These are the two examples we just looked at. And I can very easily take a look at these. This first one here easily shows me that I had forwarded this along and there was a PDF attached and lets me know on top, hey, we were able to pull that out. We created this invoice 1104 for you for this vendor. This is going to call into attention an email that was forwarded without a document. As I mentioned that we could toggle that on or off. On this one, I simply just typed into the subject that this was a bill with an ID48762, [34:03] ID48762, just a random string of numbers, dated the 15th with a certain amount owed. I just typed this into the email body and we were able to process this and craft a bill here as well. Information is going to be shown here which we can locate inside of the bills page. page. Now, if the email is blank or if we have that rule enabled that had no invoice attachment, it came through. We're just going to go ahead and halt it at that initial creation step so it doesn't clog up that feed. And we're just going to [34:37] up that feed. And we're just going to say, hey, we actually failed to process this because we couldn't find anything. We're just looking at, in this case, it picked out that there's just my signature block in there. But you can see that depending on how vendors like to send their information over, whether it's a certain format on an invoice or even just typed into the body of an email, we can account for that. Okay, we've waited long enough to hop into things. So, let's jump into this first bill here on the list. And you'll see very easily that the document itself is going to be portrayed for us. And [35:11] is going to be portrayed for us. And over onto the right hand side, we're going to break down all of the information that we've been able to successfully extract. And I chose this example because we also have a duplicate mechanism that works in your favor. We're looking at all of this header level defining information. So we actually want to know is the bill date, is the invoice number, the vendor amount, all this information. Is this aligned? Is there overlap with something that's pre-existing in any sort of form inside a Topkey? If we find that there's a reasonable amount of overlap, [35:45] there's a reasonable amount of overlap, we're actually just going to give you this tag up top so you can just say, "Hey, we think there's a duplicate here, but it's really up to you to determine whether or not it is." If I'm to click confirm here, it'll just delete this for me so it comes out of the queue. If I say it's not a duplicate, it'll go away and just flip that status. If you saw up here that it said duplicated, it's going to flip that back to draft. Now, some of the benefit here is we just used AI to pull all of this in and populate it, which is perfect, but you [36:17] populate it, which is perfect, but you still have the option to edit. So, if you wanted to come in here and say or household cleanings, add some descriptors, add other information, you can go ahead and do that. Maybe I need to override this to this is an old example. Let's just say it's today's date. I could update those or I can go, oh, I need to come back. I can come back and edit again. Okay. One other thing that stands out here is the frequency of these bills. So, this is an augmented feature to the bill pay workflow as well that allows us to create a template for anything that might be recurring. So [36:51] anything that might be recurring. So what that essentially means is you set the cadence up front whether it's weekly, it's monthly or even annually. Let's just say quarterly, you know, every do every three months. The due date is really what helps us drive this. So because I put the due date of today, this probably wouldn't be the best example, but if the due date would be let's say the first of next month, we can actually go through the process of creating this as a recurring bill. Reason being is we set how far ahead of that due date we want to generate the bill for you. We're always going to operate from the template. So you can go [37:24] operate from the template. So you can go back to these templates and edit them as you need if things change. But this is essentially what we're going to be referring to. When we create it, it appears here in the draft tab. So that essentially means that it's as if we were doing that initial step like we just did when we emailed in on your behalf. But we can automate it further. We can set if there's an end date to this every three months. we'll just kick it out a random number here to June of next year. We'll do it every 3 months until that end date comes to pass. You can leave this date blank if this is in perpetuity or if we want to [37:59] this is in perpetuity or if we want to just come back whenever that arrangement ends. ends. We have an approval process in place. We can even just go ahead and set up to skip that approvals process to further automate these ones we know are recurring and even static or unchanging. but they're not always necessarily static, right? If we create a draft bill here, you still have the option to edit it and go through this submission process we're going to show you. And the final one is to even automate payments. So I can choose between any of my top So I can choose between any of my Topkey bank accounts or any of my connected key bank accounts or any of my connected bank accounts and choose which bank to [38:32] bank accounts and choose which bank to pay out when that due date comes to pass. and I can go ahead and save it there. Tabing over here, we're going to also have an AI suggestions tab. So, what's really cool about this is this is all of the line level information that we're pulling off of the document itself. So, we got all the header info on that first tab. Now, the line levels are looking at what the descriptions might say. if there's any information around quantities, rates, or even amounts, we're trying to populate that as well as the properties list. So, we can look at [39:06] the properties list. So, we can look at your properties list that we've imported from the PMS. Take a look at the name as well as the address if it's relevant. In my case, you can see here that there's a quick overview in the AI suggested tab. So, it's still suggested. It's not yet applied to the lines. It's going to give you a quick breakdown of our confidence level. So, this is based off of information we have in the system, what we've been able to compare in the properties list to the document. We're even reference historical information. How have you paid these in [39:39] information. How have you paid these in the past? How are you typically assigning these assigning these every approval and rejection? You could see that I can choose whether or not I want to accept or reject these. We could even just go through this right now. tab back over the ones I rejected. It didn't code those. So, you can come back in here and make that adjustment. But every change that I do make to AI that touches Topkey is that it's going to update just a global prompt that exists for your Topkey account. And we're [40:12] for your Topkey account. And we're constantly referencing this. So, it's basically kind of this almost like a chief of staff for your account that's constantly knows how you tend to work. and we'll be able to learn as we go and update these and populate those. So, if I were to upload this again, I may have a higher or higher confidence score based off of how I tended to process this one here. But it doesn't stop there. There's more information that we can go ahead and code to these is I wanted to go individually into this first line. I have the option to edit through this [40:45] have the option to edit through this little pencil. It's going to pop out information that I might need to adjust. So, I saw that this pulled in the description B2B. Perfect. We can fill in amounts, update the property, even change the assigned to. So, I know this first one, I'm going to add this to a statement for this property here at 1310. 1310. And I might want to add a 10% markup. We can account for all those. Now, just as well as I can do that individually, I can also do all of these in bulk here by making multiple selections on the checkbox, clicking on bulk operations [41:18] checkbox, clicking on bulk operations and choosing what I want to go ahead and do. Let's say all of these are going to be billable. be billable. We could quickly do that and it'll update for me. Lastly, if it gets overly complex, we have the expand option as well. Break it out here into a bigger view for us. If we want to add or remove line items, edit them in a grid view. This one's more personal preference. All these same options are available to us there on [41:42] options are available to us there on that initial screen. Next up, we have an accounting tab. This allows us to set any sort of accounting related fields directly to the bill as you're going through the process. So, if I have a GL code I want to go ahead and apply to this, I can set this up ahead of time or even put a unique reference. These are something we would set up separately from bill pay. So, as you're going through the connection flow to your accounting system, we would talk with you through what fields we may need to expose access to. I'm also going to have this recurring bills tab only if I created a template [42:15] bills tab only if I created a template for it. So, what this will do is show me all of the bills that have been created from my template as time goes on. Quick activity history here. You can even see here that where I dismissed that duplicate warning. So, if you ever find that you're thinking a duplicate may not have been caught, quickly check the activity tab. Make sure you didn't accidentally dismiss that, take a look there. It's all captured for you. And then comments. What I love about these is you can take any sort of notes that you'd be doing in your day-to-day now, whether that's logging it into a task tracker, keeping it in Slack, or Post-it [42:49] tracker, keeping it in Slack, or Post-it notes on the monitor. that is not so far in my past. But you could add those comments here in the context of the bill as well. So you can just say this is great. Let's pay this or you know make sure this goes out to so and so. Whatever you need to do, you can add that on there and leave that for context for anybody else that touches this in the organization. Or secondarily, you could even come in here and at mention users. So this is a [43:23] and at mention users. So this is a separate way to replace external tools where communications may happen or untraceable. This gives us a very clean audit to say, hey, what's this for? Right? And then that user can come in here and even respond and just keep that all in one place, which is great. Now the submit for review is going to be blocked out if we happen to not meet any of the sub submission criteria that we set in the settings previously. So you see here properties required. So go ahead and add a couple of properties here real quick to this [44:08] and that immediately highlights for us. So the process is extremely simple. You just click on submit and it'll move along to its next status. Now it's up here and under review, right? You can see here that it's in a reviewed status. I have a few more options. I can convert this back to a draft if I need to mark it as a duplicate if I caught it later or delete. delete. Where this appears in the queue is either in the needs approval tab which will notify that user via email or may skip over to ready to pay. [44:43] Clicking into these the process itself or the view doesn't really change necessarily. it's always going to look the same but what defines it is what status it might be in. Now you can go ahead and click on pay here once you've verified that everything looks good. This is really our only change. Just going to click on pay here and and go ahead and showcase what some of these options are. So different payment types accessible to you are going to be to manually mark this paid. Doesn't actually create a payment in Topkey. This is necessary if you need to log a [45:18] This is necessary if you need to log a bill for the purpose of getting it. Well, one we become a repository for this was good to just best practice to have it somewhere. But also maybe it was paid through a transition process or paid externally somehow. We need to have a record and we need to get it into my PMS onto a statement. We need to get it into my ERP. This is a way to do that. Now, same day afforded to you if you're utilizing Topkey bank accounts. So, our deposit accounts allow for this. If you get in by a daily cutoff time, we can do a same day a transfer bank to bank provided we have those details. And you [45:51] provided we have those details. And you can do this across all of your AP. So you can submit all these payments all at once, pay them out of a Topkey account, get them delivered by the time you're headed home from the office. Also available to Topkey Bank accounts is the ability to pay by check. So if we have an address on one of those vendors, you'll see that we can print a check. We'll we'll go ahead and print and mail it on your behalf. It goes first class priority mail through the postal service [46:13] priority mail through the postal service is generally like a 5 to seven business day window, sometimes faster depending on on where it's at. And pass through here, I don't have enabled here because it's just a test account, but to explain pass through to you is we're not forcing you through Topkey bank accounts, although there are those same day benefits is you can just connect via BL to your existing bank. You can keep that relationship and pay through pass through here. So, what happens is it's a little bit of an elongated processing window. There's no cost to you, but it just takes up to around 3 to five business days for us to pull those funds and then push them through to that final account. [46:50] through to that final account. to pay. All you have to do is click through the prompts. It's extremely simple. You choose any of your existing bank accounts that you're going to be paying by. paying by. Verify the address. Now, this is the address here against the vendor itself. itself. Say next. Choose whether you want to pay now or even schedule it for future. So, you don't have to do your check runs all on the same day. If you have the the information available to you, go ahead and process it and schedule out for when you typically tend to send those payments. You'll get a final review page [47:23] payments. You'll get a final review page and you can just simply click initiate payment. payment. It'll update here to scheduled. You'll see anything in flux here showing in progress. So there's the one we have there. It's in a scheduled status, but it may just say processing once it's being paid. and then it'll switch over into a final paid status once you're all set. Now, quickly, in the interest of time, I'm going to spend a couple of minutes here on a couple pages that are also important regarding this process, and that's our reports page. So, two that stand out here are one, the bill's aging report. So, if you're an AP, this is of course important to you. What's outstanding and how long has it been [48:06] outstanding and how long has it been outstanding? Well, as long as it's in Topkey, we have that information. So, you give you a couple breakdowns here over the last 7, 30, 60, 90 days and even year to date. But you have the ability up top to throw in any number of filters here to drill down this information. All of these links here look similar. So, for example, this is one of those drafts. I can pull up the sidebar if I need to. And then it's going to give me [48:28] need to. And then it's going to give me some of those same options as before that you'd be doing from that initial bills page. But this is just a way for you to quickly jump into those And in the vendor 1099, I alluded to this earlier, provided that we have the information on hand here, we go ahead and give you a quick overview for this. Now, these are grayed out, and the reason being is that 2026 threshold has increased up to 2,000, which is a perk for some of us have a lot of 1099s to file. so these [49:01] lot of 1099s to file. so these actually will remain grayed out until I hit that threshold there, which we may do for this plumbing account. Once we do, you could just simply come in here. It's going to give you the vendor breakdown like we already saw. And then up on the top right, give you access to those 1099s there. We'll go ahead and generate them for you so you can get those filed pretty quickly. come around the start of the year, we also have some automations in place that will notify you through email just letting you know that these are coming due and it'll tell you which of your vendors are actually lacking in this department. So, gives you a chance to [49:35] department. So, gives you a chance to very easily jump back into that vendor's page, filter out by anybody who doesn't have any info, and just in bulk click on collect and we can send them all emails. Perfect. Well, everybody, I certainly appreciate spending a little bit of time with y'all as I walk through everything here. I'm going to go ahead and shift gears to the chat here just to make sure that I have all of the information as far as questions, anything you might all be asking me with the time we have left. [50:20] I have a question in here from Heather. For vendors that have the same name and show an active as a duplicate, is there a way to combine them as one or does one need to be archived? for this, I would say if there is spend against one of the duplicates, we can by request actually go through a merge process for you so that we can contain access to the previous bills. If one of them's just a true duplicate, go ahead and archive it. Pull it off the list. Joe here, how to record an invoice [50:53] Joe here, how to record an invoice that needs to be split for work on multiple property listings. I think we jumped into that. That's that whole section on line items and adding additional lines. We should be suggesting those properties for you. Happy to point you to some more documentation there if you need more clarity. Is it possible to have a separate secret email for each of our destinations? Today, there's just one per Topkey account. So, that would be the only separation there. we definitely could look to see if there's any defining information about destinations. Maybe we could talk through automating that a bit more. Love to learn a bit more about that. Maybe reach out to you [51:41] more about that. Maybe reach out to you separately there Sherry on that one. These payments paid out of Topkey transmit into systems like Streamline or guest or are those payments posted separately? So, separately? So, I imagine you might be referring to a different processor there, but let me know if I'm off base. So, we're sending it through as a payment out of the bank. So, we're capturing that as a bill in Timekeep. We're also capturing it in the bank feed. If we need to push it into an external system, [52:14] external system, and this might be helpful to have a quick visual. So, I'm going to tab back over to a bill example is when you're connected to a PMS, you're going to have an expense column here or work order column, whatever the nomenclature is for that PMS is the ability to take something billable and convert this into a charge that pushes over. This is the method in which we we push that into a PMS. So, it's not necessarily pushing it over as a payment per se. We're just pushing them over as bill to statement. there's something else missing there. Would also love to learn a bit more about that process. [52:52] Is the recurring going to create a bill or autofill newly incoming invoices? It's a great question. It's going to end up under these recurring templates recurring templates and these will create new bills inside of the draft tab as you as as that due date comes to pass at the cadence that you set. So I think the one we had done was quarterly. So every 3 months, 5 days before that initial due date there or before the first, right? So be the 25th of the previous month, we'll generate it as a draft inside of inside [53:27] generate it as a draft inside of inside of this page here. All right. Now, portions of that would include the ability to autosubmit and pay those if we added those modifiers. So it would then become handsoff. The way you'd monitor that is coming to the template and checking those recurring bills. You can see all the history of bills paid out here on a recurring schedule. If we have our billing email forwarded to Top Keys email, including junk email, are we able to delete those emails out of the inbox? Yeah, that'll all be captured here. And you have an option here to delete with the trash can. [54:05] here to delete with the trash can. The risk there by just opening up an automated forwarding on those is of course like you suggest potential spam or junk. So just sort of be wary of those. Maybe you can tighten up the forwarding rule or hand forward some of those in a better way. We can delete them out of here. My my concern would be if we don't have the proper controls in place around preventing uploads, you know, you may end up with documents in there that are attachments spam, right? And you may think it's a bill. So, it just adds work to your team, which is [54:36] just adds work to your team, which is why personally I'd recommend being the barrier to getting those in there as well. Okay, let me give everybody a minute or two here just to close up. We'll wrap up just right around the hour. [snorts] in case there's another question, might have time for one, maybe two more if anybody thinks anything. So feel free to share it. I personally am accessible at jasontopkey.io. at jasontopkey.io. But of course if you are a Topkey customer, if you have tons of questions, [55:11] customer, if you have tons of questions, you have this need help down here in the bottom left. And our support team is there to assist you if you have any specific account questions. So not only can we help you with troubleshooting, we can answer more of these types of questions as you navigate it. but also if there's anything you find that might be missing we'd love to hear that specifically because all the functions you find inside of Topkey are user feedback driven. So we'd love to help partner with you and help build out some more functionality as well. Finally, there's a docs page here that's going to have access to our formal help center inside of there. We've built a [55:43] center inside of there. We've built a specific bill pay overview. It's going to go into a lot of the stuff that I covered today can hopefully help answer some more of your questions as well. And while we think through those last questions, I'm going to go ahead and throw this quick slide [snorts] up on the screen here just in case there's any way you want to reach out to us directly after this. Again, our support team's there. If you're not a Topkey customer and you're joining, feel free to just schedule a demo on our page and we can do a more personalized look through what it looks like to help serve you.