Expense management in Topkey

[0:00] Morning. Good afternoon everybody. Very excited to have everyone join us. We're a little minute after the hour here. Maybe another 30 seconds to a minute. We'll let everybody trickle in before we get started. But welcome to our webinar today. Today's topic is getting the most out of Topkey's expense management tool. So, we do these every month. Just as a disclaimer, it's one of the most exciting times of the month for myself as someone who gets to work with our clients face to face. just to talk about everything we're changing and everything that's you know in use [0:31] everything that's you know in use today and how our customers get to get the most out of Topkey. So we'll be going deep today. I actually just go ahead and shift this over here while others trickle in to talk a little bit about myself. I do come from a finance background u primarily in AP. So we we do serve that at Topkey, but today's more so on the expenses side. We know it's a unique challenge especially with property managers. So very excited to share a bit about my experience and getting to work in the weeds with you know at this point several hundred operators at this point. a little bit about why it matters and then just what [1:04] about why it matters and then just what we'll be able to do to serve you. So whether you're a Topkey client who has been with us for some time you're new or you're not just yet we'll get the opportunity today to talk through a couple of those things. So to set the stage, I do want to talk about our story. Why do we exist? Why expense management? What what is it? What why is it even important? Right? Where do we fit into that story? And then the demonstration itself. We'll jump into a Topkey environment. We'll get to show you a lot of cool new things. Now, we've done a similar expense management training in the past earlier this year, [1:38] training in the past earlier this year, but a lot has changed. We just rolled out a new navigational system and a new UI just in the past month or two. So very excited to show you some of the new tips and tricks as well as some things around compliance controls, some of those things that help you be a lot more efficient and you know scale your scale your operations. And then time permitting, we're going to slot in some time for Q&A. Now this is an interactive [2:00] time for Q&A. Now this is an interactive webinar, so I will save the actual answering of questions for the end here, but you should have access to some sort of chat, some sort of Q&A section inside of the Zoom panel here. So feel free to throw that in there at any point. maybe I will get to your question just as I go along or we'll make time to address you if we can't get to you immediately we will follow up with some answers to your questions directly. [2:22] answers to your questions directly. So, with that, I've already chatted enough on that, so let's go ahead and dive in. Now, just want to set the stage a bit. What What is so complex about short-term rental finance? Well, if you're not already in these weeds today, you know, you're actually very quickly learning that u it is very messy. It's very challenging to keep up with every little line item that's taking place in the day-to-day. You know, you hear about the whirlwind of your day-to-day and it's extremely challenging to keep up with because there are multiple financial statements that need to take place on a monthly basis that need to be [2:56] place on a monthly basis that need to be accurate, right? You can think about your own business you're running, but every relationship you have with an owner is predicated on your ability to get them a statement that's accurate. And not only getting it on time, but making sure that it's right, making sure that they have confidence that you're managing their property well and they're earning their own profits. Right? So the way that we impact that is by locking in expense management, right? We don't want to run into these downstream errors that have to basically result in things that the worst thing that could happen is owner churn, but you know, messy financials impact your ability to, you [3:32] financials impact your ability to, you know, sell your business, right? Things like that. So we want to we want to deal with that in a way that that makes sense and is sustainable. So, as a function of that, all of the systems that you use in your day-to-day your day-to-day are fragmented. They don't talk to each other very well. You do have to have some sort of banking infrastructure. You do have to use some sort of accounting system, a PMS of course, right? And they're all they're all fine in their own, but there's something missing where getting data between systems becomes a challenge, right? And that's where that's where Topkey has recognized that that's a unique challenge to the [4:05] that that's a unique challenge to the vacation rental industry specifically around that statement. creation portion. How do we prevent things like leakage? Well, Topkey comes from founding stock with backgrounds in the property management world. So, our founders have had time at hotels, have had time at Airbnb, and we we got to see this firsthand. which led to the development of us as an AI powered financial operating system. See on the left there, that's just some of our platform offerings. Again, today we're going to be walking through primarily expense management, but we uniquely integrate with all of these systems [4:37] integrate with all of these systems because we know where the where those fields don't talk to each other. Well, so with that, especially on the accounting side, especially on the maintenance, credit card, and PMS side. Okay. So, with expense management directly, as far as credit card goes, we can connect to anything in your stack today. We have unique partnerships with ramp, American Express, Visa, Mastercard. There's no need to change your setup today. We basically plug in and we start to get access to your transactions. transactions. You have to take my word for it. A lot of our property managers love us. We [5:11] of our property managers love us. We have a extremely high customer satisfaction and retention rate that we're particularly proud of. But want to highlight that all the managers across the states, you know, have over 47,000 properties under management over, you know, 330 plus managers. So it is a tested tested hypothesis you could say that definitely works and we continue to iterate upon that. So to talk about the actual expense management process right we talked a little bit about where TKI fits in but I want to set the stage a little further. Let's talk about how we're defining this new era for the PM operator who's more involved in finance and better understands the financials of their business. So, what we're helping deem [5:54] business. So, what we're helping deem that be is essentially the accounting concept of a continuous close and how can we bring that into short-term rentals. When I show you Topkey, we're going to talk through three main things. How do you set it up? How do we remain compliant and set in those controls as a factor of scale? Right? Visibility is just as important as being efficient and compliant. And [snorts] finally, workflows. So, how do we put those into place day-to-day, right? What will it look like for an end user, your team to jump into Topkey and manage that? [6:28] jump into Topkey and manage that? Thinking about your monthly process and how it's always been done. You know, throughout the month, purchases are taking place on a daily basis. There is that whirlwind of, you know, keeping up with things. How do we make sure that everything that is everything is accounted for? Right? you do have to play this sort of waiting game if you're not providing information in a timely fashion that could cause, you know, some month-end chaos, right? If you're waiting for the end of the month, if you're waiting two days, it's hard to remember the context of the purchase you just made, right? Ask yourself what you [7:00] just made, right? Ask yourself what you had for breakfast, right? It's [snorts] really hard to put all of that together and make sure that everything ties up and it's all reconciled. At scale, it's really costing you, you know, a lot. There's a there's there's a lot of financial impact to your business is probably a better way to put that. Right? If you're not getting your books closed in a timely fashion, you have an agreement getting payments out by the 5th or the 10th, the 15th or whatever is in there, you have to start this process earlier and earlier towards the end of a month to make sure you hit those [7:32] month to make sure you hit those deadlines. And that is really costly, you know, exponentially as every unit could potentially cost up to a third of profit just to financial friction. So just lost receipts means you'll have to pay for that if you can't attribute it to a home. Well, the way that we look about solving that is shifting all of that forward in in the process and making every card holder accountable for the context of their purchase. You know, we understand that at the end of the month, you do have to attribute things that are [8:04] have to attribute things that are billables and also things that are expenses for the business, but we want to make sure they tie up to the right property. We want to make sure that everything is is accurate. So, what Topkey uniquely allows us to do, and I'm going to play a short demonstration here in just a second, and then we'll see it in live action, is essentially notify the card holder in real time at the point of sale. We're going to capture every single bit of compliance that the finance team needs to close the books as it's happening. This is just going to show us on the mobile view [8:38] mobile view that we'll send them an encrypted text, provide to them the opportunity to add the compliance info like a receipt, add descriptive information in the context of a memo. So just because you went to Home Depot doesn't tell me what it is. But now I can fill in this memo that serves a dual purpose. Goes into my accounting system. It's going to go into Guesty. It's going to go into my PMS. It's going to go into Streamline, whatever I'm connected to. Also, if there happens to be a maintenance angle to this, we can expose the work order there and just walk [9:10] the work order there and just walk through that process. So, this is a 30 30 to 60 second flow that every card holder is doing in the context of their purchase and that's already compliant for end of month. And what that results in is a actual continuous close process. So, as it's happening, the expenses are being captured. We're grabbing all the details we need. It's a daily or weekly process for you. Within Topkey, we can then sync that information as it goes. So, we are creating charges in a PMS. We are creating expenses inside of your ERP. And then at the end of the month, really [9:44] And then at the end of the month, really just doing that final review step to sign off, make sure your statements are accurate. What this then unlocks for you is that you become the smarter operator. You flip that on its head and take command of the metrics. Your month end becomes that much faster. your owner billables go up, which in turn creates higher profit margins, saves you a lot of time, of course. of course. All right, so let's jump in to just a bit of demonstration here. I'm going to pull into [10:18] I'm going to pull into Topkey. Topkey. Okay, perfect. Well, let's go ahead and just give you a quick overview. Now, today we're going to be primarily focusing on expense management. So, there are several other modules in here. Again, we host these on a monthly basis and there's always going to be more. So, if there's interest in any other financial record type, please let us know and we can definitely do some more trainings on those. So, what you're looking at here is just the home dashboard. dashboard. Every user who signs into Topkey is going to have access to this dashboard and it's going to present to me [10:52] and it's going to present to me information that's relevant to me because first thing on the list is we're able to basically set every user up with their own permission set that allows them to only see context matters to them. In the case of myself, I'm an admin. So I have full visibility across all types of transactions and that allows me to create these custom tiles here like things that need my attention, different transactions in terms of a breakdown. So at a glance I can see, hey, you know, I have so many of these that are incomplete. Let's take a look into that and actually take action. Can [11:23] into that and actually take action. Can look at what's completed or even flagged. flagged. As I take a short trip down this list, there's several other tiles that might be important to me. things like spend by merchant, different types of property spend, even allocations by company type. Now, these are completely customizable. So, I can actually drag these and rearrange these if I'd like. Even over here under the customize column, I can add or remove some. You see that there's some some already off of there. Again, every user has that customization. And this is going to be a recurring theme is we really want to make this malleable to every user so they can customize their experience and they can make sure that they're seeing [12:08] they can make sure that they're seeing the information that's most relevant to them. We keep it interactive as well. For example, click on this open AI up here. That's a recent transaction. It's going to give me some information on this sidebar that's looks pretty similar to that initial cell phone demo. And that's intentional. We want to keep that experience consistent. and we'll go ahead and jump into this here. Now, what does it look like to get started? So, when you do come with Topkey, you're going to go through a setup process with either myself or one of our other account managers here that goes through an understanding of what you're trying [12:42] an understanding of what you're trying to accomplish as a group. We want to make sure that, you know, we're setting up the proper rules, we're setting up the proper controls in place, right? And the the purpose of this is to first off have a consistent process across all teams, across all cars, any entities, right? So right now we're just looking at a single entity, but you can imagine if you have different markets that you may serve, we have the ability to bifurcate by a user, buy a car, or even different markets, things like that. Okay, [13:13] that. Okay, it all lives here inside of this spend section. section. I'm also going to go ahead click up here on the top right. You see I have a couple different entities. So that's how we would help if you have different entities with us. We go ahead and click on settings here and pull this into a new tab just so I have that up to sort of jump between. Now in the case of this account here, I've actually integrated directly through RAMP through our partnership. Well, everything is an API integration. So, if I log in with my administrative sign on to RAMP, I'm uniquely able to pull in all of my Ramp cards as they [13:47] pull in all of my Ramp cards as they exist in Ramp today, which comes with some extra benefits. It also comes with adding the card holder that's already associated. That's going to include their phone reference. It's going to include their email reference, name, other information. other information. Let me click on this example just to show us here. This one here for Dana. Okay, so we do get the card information. and already has a nickname as it came through from ramp. You have a couple different things that you can control on here. So now these are coming from existing ones. This would operate similarly if you're utilizing American [14:19] similarly if you're utilizing American Express for Visa, Mastercard that are just direct in integrations. We could enroll those individually through this same methodology here. itself. By default, you'll be enrolled into the SMS notification flow and things like transaction reminders, but we can add or remove those as needed. And then up here on the right, you can edit specific details around it. Things like the name itself and if you want to set some defaults. Now, where these are beneficial is we can utilize things like a specific property that might be tied [14:53] a specific property that might be tied to a card. So if a card exists solely for the purpose of spend tied to a specific unit, specific home, we can set that here. And this becomes one less data point that we need to keep track of. of. Secondly, we have the concept of what's called groups. I'm going to show that a little bit later as well. And what groups allow us to do is set up that different layer of visibility. So if for example, I mentioned I was an admin, so I have full visibility across Topkey. But if I'm just a frontline staff, I'm only going to see purchases in my own context. Meaning, if I were to sign into [15:27] context. Meaning, if I were to sign into the dash, you know, there's a hundred cards on here, but if I was just Nicholas, I'm just going to see Nicholas's transactions. Okay, the groups allow us to create more restrictions around that. So whereas Nicholas may only want to see his own transactions, Nicholas probably has a colleague or a manager and they want to see all of their employees transactions. That's where the group comes into play. Similarly, we have the concept of a property group. And what the property group allows us to do is just set those property options to that card. [16:02] property options to that card. Meaning I can only choose those properties from the list. Now all properties are derived from your connected PMS. We integrate with all major PMS's and part part of a function of setup is we'll just grab that list directly from your active lists lists listings. One thing we can do is actively come in here and sync ramp cards at any time. But we can also create ramp cards. So, for example, if I wanted to issue one of these these for Bill, let's call it Bill's card. We give him a $100 spending limit. We can go through the process of creating that car. Now, this creates parody between Topkey and Ramp. So, there's no issue. There's no [16:49] Ramp. So, there's no issue. There's no need for you to work through ramp. We're getting all of that information. now this is going to be a virtual card, just to reiterate there. The same would apply for American Express. So, what that unlocks for you is the same reward structure, the same cashback structure you have with your card provider, but we're able to be a little more specific in setting up things like controls if we want to set spending limits or different you know, restrictions around a specific card or user. To get the card information, you'd simply come back in here and click on it, and you could expose this number [17:22] it, and you could expose this number here if it's a virtual card. From there, I'm going to hop over into settings because there are some other preferences you might want to set up from a control standpoint. Now, inside of team, this is kind of where all of the groups will live. So, I'm going to click into groups real quick. I just have a couple examples in here, show you how simple it is to do. So, so the way we set up groups are essentially a way to segment different users or different cards inside of the organization. So I have three of these here set up. Region A, market B, even [17:57] here set up. Region A, market B, even maintenance. Right. So what I can do in my example from before, I think Nicholas was the name. Let's see if we can find them. There we go. Nicholas works with Pam. Nicholas works with Ryan. So, we're going to add them to the maintenance group because they're maintenance tax, but their manager is is Andy Bernard, the nard dog. So, the way this works is that then becomes their visibility track. So, Nicholas can still log in and see his own personal [18:32] still log in and see his own personal transactions, but now his manager can view all three employees. Instead of doing it at the user level, you can also utilize this card assigned here. simultaneously. There just a couple different ways to get it set up. Users may have access to multiple cards whereas one card may be just a single person kind of and vice versa there. On the group side, this is or property group side. This is where we're able to do do it with properties specifically. So, what this allows us to do is choose which users and cards can see which [19:07] which users and cards can see which properties from your list. choose a few of these. By default, when I get that initial text message, I could choose all properties active in the whole market, but maybe I'm only responsible for a few of those. This is where this is helpful because then it reduces keying errors and it makes it easier for me to make selections as I go. Moving along, we have a few other sections here we'd want to go through as a function of setup. And one of those is actually setting up an approval flow. So, we have two-factor authentication and security enabled all across Topkey [19:49] and security enabled all across Topkey specifically for this purpose. This would apply to any major and I'm getting a real text here. So, let me key this in real quick. All right. So any major workflow adjustments inside of Topkey automatically tied to more security. So every user that signs in is going to have the access to do that authentication authentication either by sign on or on some of these other tools based off of either email, based off of a text or even an authenticator app. So we could we could adjust that as needed, but we make it [20:23] adjust that as needed, but we make it super easy to put that on for everybody. And then security is that that extra security layer is already in place as you roll it out. Now as far as approval workflows are concerned, we're already inside of cards here and we have a few things available to us. Now you have to be a user inside of Topkey to be included in the approval rule set and you have to have access to the particular transaction itself. transaction itself. That's either based off visibility or based off that grouping we talked about beforehand. So let's put together a [20:55] beforehand. So let's put together a quick approval rule together. Let's just say any of say myself. this other user here. The other modifier that showed there was all. So we can enforce that for everybody if we want to. And then we also have the ability to add more layers, optional conditions. So this can be driven by things like a dollar threshold. It can be driven by things like cars that belong to specific groups, properties themselves or property groups and even a bill or assigned to category. So what we what we would ascribe that to in Topkey is is [21:28] would ascribe that to in Topkey is is this billable to my business? is available to an owner. Is this something I want to book to my inventory? Things of that nature. What this allows us to do and when we create this is it automatically starts to apply to everything that matches this rule here. So right now every single transaction is going to be enforced by myself and this other Topkey user here. But if we wanted to create some layering or other rules, we we have the ability to continue to create additional rules here as we need to. The difference [22:01] here as we need to. The difference between adding the rule itself and the step step is more so of the chain of command. So in the example of this secondary one here, here, we can set this up for another person. But if the optional conditions, let's just say we create something around this, we can add a step in line that requires that somebody else touches this after the first person explicitly issues approval. issues approval. So simple concept, but it's powerful because it allows you to get, you know, [22:34] because it allows you to get, you know, that consistent process that I that I mentioned, but also gives you the full visibility and compliance you're looking for. You don't want anything getting past a set of eyes there before you're you're finalizing things. After an approval rule does exist, we get to add some even more controls that you see here. I'm going to edit just to make a little easier to see, but some of these include the ability to make sure that everybody's getting email notifications by approval request. This is on by default in all accounts here. [23:06] here. We can require that every transaction follows a specific approval workflow. Right? Basically requiring that a submission needs to take place. We can also lock records after approval. Where this is helpful is you don't want somebody issuing an approval on it and then coming back and making a retroactive change. Whereas we do capture an audit of everything that takes place on a card, we want to make sure that those are following the proper channels here. channels here. And then finally, we can require approval as a final step before we take an expense and put it into its resting [23:40] an expense and put it into its resting place inside of an accounting system or inside of a PMS integration as a charge. All of these can be enforced here. All right. And finally, we have one final setup item that we would do where it comes into the actual transactions section here. So, what's great about this is it has the ability to enforce all of the documentation that we're going to need that I showed you on that initial demo here. It's binary. It's yes or no. This is a global setting that impacts the whole account. We're [24:14] that impacts the whole account. We're going to have the ability to then follow through with different exemptions later on. So, right now, I'm not enforcing receipts across my entire account, but if I wanted to, all I had to do is switch this to required. And right now this touches every transaction, but maybe I'm more so concerned with receipts for anything above $50. I can go ahead and enforce that as well. Then we have cards and we have merchants. We can exempt specific cards and merchants that might not need to apply to that specific data point. [24:47] specific data point. This exemptions tab allows us to apply every rule that we see there on that settings page as a full exemption. In my example, I created an exemption rule here for any time that the merchant contains Costco. Not going to enforce any of those rules. It's just going to show as completed already. But there are a lot of different options here inside of the exemption rules. You can have a different field such as memo, merchant, summary, or even amount equal or contain specific information. [25:18] equal or contain specific information. Then you could set what that value is. And just to take a trip through what's left over here is we have memos here. So again that's a descriptor top keys category where is it billable to a property property and we have some accounting rules. So we can enforce different accounting rules coming directly from your ERP. In my case of my account I'm connected to QuickBooks. So I can enforce the accounting GL here or even the class or in the case of other bigger ERP systems such as NetSuite or Sage Intacct, we can [25:52] such as NetSuite or Sage Intacct, we can enforce more line level fields, departments, locations and different dimensions. dimensions. Autocategorization rules allow us to put some rules into place. And then lastly, we're looking at a completion window. So, anything above here for missing one or more of these is going to show inside of the dashboard as incomplete. We want to make sure everything is being completed in a timely manner. And what this completion window allows us to do is essentially send everybody a digest of anything that's left outstanding. So, right now, [26:23] that's left outstanding. So, right now, by default, we're looking at a rolling period of about 60 days into the past. So, hey, over this 60-day period, what's outstanding? What's still incomplete? We're going to let you know about that. You have the ability to tighten this up as much as a week or loosen it up to 90 days there. We would generally say the 60 days is a good preference, especially as you're getting started because it allows you to look just a day longer than 30 days into the past. You get a full month and a little bit of change just in case you're not, you know, right up to the day there on the month. And of course, once you save, you're ready to go. All right. All right. So, [26:57] ready to go. All right. All right. So, let's go ahead and look at things here. Now, we were looking at the initial cards set up there, but we do have this transactions feed. So, this is where all of the action takes place. Now, inside of the transactions feed, it's really the the full running list of everything that's taking place in the account. So, what I'm looking at is everybody's card here is going to be one unified feed where I'm looking at transactions that are taking place on any card associated with the business. Now, every transaction may have a different purpose. So, we're expecting that the [27:29] purpose. So, we're expecting that the card holder is filling that information out when they get that initial text message. And it's going to flow into here, hopefully in a completed state. You see that here in this status column. I'm actually going to pull this one over to the left quite a bit. And that's another part of personalization. So, if I would rather have the status column out to the left, I'll just go ahead and click and drag that. That's going to stay in place for me. Another component [27:54] stay in place for me. Another component to that is this display over here. So all of the columns can actually be added or removed just at at your at your preference. So I see that the account itself I know all of my cards are actually related to ramp in this specific account. So you know maybe for me it's not super relevant. That's as simple as removing that. I can just click it again if I want to bring it back. But again allows me to edit those in a way that makes it easy to keep track of. One thing you'll notice as well is there's also a column here for approval [28:30] there's also a column here for approval status. So I clicked on this because we just created that flow where I am one of the approvers. So I can go in here and start to approve these here if I want to and kind of go through my my checklist there as I go. And what we can do downstream is basically we didn't we didn't enable it but if if approvals were a contingency to push some of this data into say QuickBooks that would be that trigger right there. More ways to access the data actually have to do with these filters up top. So [29:04] have to do with these filters up top. So these are extremely powerful because every variable that you see on the dashboard here can be filtered. It can be reported upon by utilizing these. You have a couple ways to do that. with this ask AI or you can go through and find these. These are laid out alphabetically. alphabetically. As I tend to roll this out with my clients, I recommend starting a little more broad and then getting a little more focused, especially if you're thinking about different things that you would routinely come back to, right? As something as simple as I just want to flag things that are incomplete, [29:40] right? That makes that extremely simple for me. for me. I also have a quick snapshot to do that over here under display because that's very common because it narrows your focus. focus. However, if I'm looking at things that are incomplete but are also flagged as billable to an owner, these might require a bit more urgency for me because if it's already been deemed as something that needs to be billable, I already know downstream that there are some charges that need to get onto a statement, right? There's another step that needs to take place for these. So what I can do is I've already applied [30:13] what I can do is I've already applied all of these filters up top is create just a simple save search and call this incomplete billables. Now in this case I have multiple filters here but there can be any number of filters there that you want to go ahead and provide. And instead of keying those in every time, the safe search just allows me to pull that back up anytime I come into Topkey. So, let's let's go out of here and refresh this real quick. It's going to reset the screen. And there's a couple ways to get back to [30:44] there's a couple ways to get back to that actually. And I can do it first. This is part of our new UI as well is some keyboard shortcuts. So, I'll press V on my keyboard and it pulls up all of my save searches on the sides. I'll just follow that up by pressing one. It's going to apply all those filters for me. So, you can imagine once you have multiple, it's very easy to just do your quick reporting and get to the information you need to see. [31:06] information you need to see. Now, if I adjust this, maybe I'm looking at complete ones that are marked billable, billable, right? Because there's still that step of me needing to create those charges, which I'll show here in a second. We already detect automatically that you made an adjustment to that save search. It's going to say, hey, do you want to update the existing one with this new filter, so you don't have to restart or save it as a completely new one? Well, this is different. So, I want to save it as new. I'm going to say complete billables. [31:41] Now, when I pull up the sidebar, I have two to jump between. Other ways to get there. If you'd rather click you can go into actions here and you can just simply click on save searches up top. It's going to pull up that same sidebar. If you want to go in, you can edit those. But some other options are also presented to you here as well. So things around merchant rules. I'm going to go to that next. And then some exports. So these are ways for you to get either a zip file that contains all of the receipt images that are attached to each of these or you [32:16] are attached to each of these or you could get a CSV as well. Now we give you two different options here. One that says same row splits and one that says separate row splits. What we call a split is just a different line item on the transaction. So if any of these are broken out into multiple lines, that would allow you to either collapse those into a combined line on that file or separate them out just so they look similar. I mentioned merchant rules, so we make it super simple to set up some rules around the merchant themsel. I'm going to go ahead and click on Google here, and that's going to pull up my rules [32:51] and that's going to pull up my rules window. So, what's great about the rules window is it allows me to take any information that I know is going to be static for this particular merchant, hardcode a quick rule for that, just so it takes away any of the inputs for me. So, I'm still going to be notified as the transaction occurs because we want to take all of the effort that we're doing today from a data entry standpoint and flip it into more of a management or [33:14] and flip it into more of a management or a maintenance verification step, whatever you'd want to call it there, and kind of reduce your entry and labor that you're taking to complete these. and you're just verifying. Okay. And you have a couple options here. The merchant name is just flowing in as Google. So I can set it to exactly match let's say Google here. But there may be a world where some merchant names they get routed through weird point of sale or processing systems and the merchant name, you know, might look like it might look like Google or it might be all caps or it might say Google ads, right? These [33:47] or it might say Google ads, right? These these are technically different merchants. So there may be a world where we create a rule that collapses all of the different ones into a single merchant here. So that would be probably something where it contains the name Google, right? Because there's more broad options that this could apply to. Going to select that. Or maybe you want an exact match because Google ads might get a different output than Google business or you know your Google subscription in another way. It's very very common if you're [34:21] It's very very common if you're shopping at different storefronts because the storefront may route it through a processor and the merchant may say the name and the only thing different might be a a trailing store number. Right? It's technically unique but really for our purposes it's the same. So we want to make sure those are aligned aligned now your bill to I'm going to say this is a corporate expense here because let's just say in our example it is ads. It's marketing spend. Right? See if we have one of those in there. Advertising. Perfect. Perfect. We get a section down here for accounting as well. So, we can hardcode [34:55] accounting as well. So, we can hardcode everything we need to do. You see the number of other modifiers, properties, vendors, tracking classes, and so on. It's all very customizable to you. Let's go ahead and apply those to everything that exists and we'll give it a save. So, anytime you do something like that, you see this rule successfully created up here on the top right. It says updating in the background. other background functions are taking place like a number of different AI agents that are learning all of these different coding habits of yours, especially on the accounting front. You see this orange tile here. This is essentially a [35:28] orange tile here. This is essentially a suggested accounting category from QuickBooks. It's not actually coded to this particular transaction, but what we're doing here is we're saying we have a reasonably high confidence that this may apply to this particular transaction. could be the reason that it has context around the purchase. It's coming from the car provider, if it's coming from the merchant, or even past history. we can continue to prompt this over time and it'll learn. So, you can accept or reject these, change it yourself. but what's powerful about [36:00] yourself. but what's powerful about the actual dismissal here is what the dismissal is doing is it's going to take whatever we throw in next. Let's just say software. We have it on there. Substance subscriptions. That'll work. We'll use that one and that'll learn for future state. Now, if I knew for a fact it was always going to be that, there may not be a lot of dynamics to that, right? It'd probably be make more sense to create a rule in that scenario. Some other things that would take place in the background would be any sort of bulk operations. So, the way that we [36:37] bulk operations. So, the way that we could support this at scale, I'm going to go ahead and refresh this here again. Takes all my filters out, is I've only got 53 transactions in here on my side, but you know, for your purposes, the volume may be much greater. You may have hundreds or even thousands. Well, we can display anywhere from 25 up to a 100 records on a screen. And that allows us to do what we call bulk operations. So, as you're working through here, first off, everything's interactive. So, if I see this Atlantic Oats, I just clicked on that. Maybe I need to change it to Bayhide Away. I [37:11] need to change it to Bayhide Away. I just made a quick adjustment. It's interactive in that sense. But to do these bulk operations, I can make multiple selections using the check boxes here over on the lefth hand side. And a part of the powerful nature of this is through more not only are we just giving you one option to make four updates simultaneously is anything that you see presented here can be done simultaneously. So what I mean is I'm I can come in here and I can assign all of these to these to captain's watch but in the same event I [37:46] captain's watch but in the same event I can also file these as billable. I can also file these. Let's just pick a random one here. Gas and electric, right? And when I apply these, that all runs in the background there. So, the the beauty of this is we're doing up to a 100 records on a page at a time, updating multiple fields that might need adjusting there. And we're also moving really quickly. You see how simple that was for me to to go ahead and do that. As a sidebar, you can report upon bulk operations down here in the reports page. directly under bulk [38:19] the reports page. directly under bulk operations. operations. It's going to give you a true history here of everything that's taken place on that. So these are a couple of these I've just done here today. some are completed, but some are also failed. So what's helpful to note there is there may be some reason that something fails to process. They may even partially process. Maybe you selected 20 items and only 15 of them worked. Well, you'd be able to come in here, pull open the details, and view the details as to why. In the event of a failure, you can actually just rerun these. You don't have to go select them again. We already have that context. We can just try it [38:51] have that context. We can just try it again. in the event that there's any sort of actual issues is very uncommon, but you could download a report, hand that over to our team, and we could take a look at that. Now, jumping back into the feed here, what do you do once you have access to all of your billables? Well, this information needs to go into your PMS because that's where we're constructing the statements today. When I look over here at the work orders column, I have two options available to me. One being create and one being to attach. So, it's [39:28] create and one being to attach. So, it's very simple. Create means I'm creating a new work order. Now, don't let the nomenclature nomenclature confuse you. This could be an expense. It could be an owner charge. It could be a bill, right? It's it's whatever the billable item that your PMS needs to accept is called. That's what it's creating on the attach. What we're doing is taking this materials purchase up top and we're attaching it to either an existing work order or in the case of any sort of integrated operational software in the case of say a sweet op [40:00] software in the case of say a sweet op or a Breezeway we're attaching to task data. data. So, a real powerful workflow there is operators that we work with are running materials purchases through Topkey and their maintenance folks are attaching Breezeway or maintenance tasks from whatever tool they're using and it makes it really easy to tie those together. So, let's actually go into this first one here and then click on create. Okay. So, now in my case, I'm integrated with track PMS but as I mentioned this is customizable that we can connect with [40:33] customizable that we can connect with all major PMS providers. So the fields available to you will match what'll be there on the input screen. So just want to highlight how easy this is. This interface becomes the entry point for your billable item rather than going into that external system. So we've pre-filled as much data as possible. Things like the actual date, things like the name around this. We've appended this memo here. We concatenate that at the end. We're going to get the purchase material here. And then at the bottom, we're going to show you things around markups if it's applicable. Every line [41:06] markups if it's applicable. Every line item has the ability to be marked up either by a percentage here. Throw a 15 on there. It's going to do the actual calculation or I can do a flat amount. So 65, right? We'll just pick a number and that'll calculate for us here. Every PMS supports different things. So if we're pushing over things like attachments, documentation, things like that, we can certainly do so. Set different defaults. And once you click create, it creates that ping over to the external system. [41:41] that ping over to the external system. Switches over to view. So it eliminates the possibility of any duplicative entry. entry. And coupled with the actual filter for this down under sync status, it lets us see which of those billables that are marked and complete are actually outstanding. So that's really where it starts to unlock and we see a lot more of that of that view allows us to see that. Now I think I chose like an equity account or something so it failed to go through but you can see that we do get a direct hyperlink here that takes us straight to it. Some of our most effective operators are [42:15] Some of our most effective operators are doing just that. They're using the safe search to create a list of everything billable. They're going to select everything on their page and they're going to click create work orders and they're going to get taken into this popup that allows us to essentially create all of these simultaneously. The last thing you're going to want to check on is how do we get that information also into our accounting system, right? Finance is also curious to see how we're constructing the P&L [42:49] to see how we're constructing the P&L inside of, you know, in our case, say QuickBooks. Well, that's where this accounting section does live. So, we have a separate transactions page down here, and I've already set the account up to where only completed items are going to show here. So, my accounting team is only seeing those that which are completed. They're not lacking in information. information. We can again add that the approval status might be a contingency, right? That could be another layer of review if we'd want, but all the team has to do is make a bulk selection here and click on sync. And this will allow us to go post [43:22] sync. And this will allow us to go post that into the accounting system. We can go a step further and actually setting that on auler that allows us to automate the process there and run that on a daily basis. But if you need to you can you can also maintain those controls. Last thing I do want to highlight specifically is we have recently changed all of the UI here in Topkey. If you've been with us for a little while, you notice the lefth hand pane is a lot more condensed than it used to be. We've [43:59] condensed than it used to be. We've moved a lot of the like areas into each other and and bucketed them in a way that should be a lot more seamless for you and make a lot more sense. And part of that is speeding things up through the process of what we call our focused edit view. So when I click into a transaction, it brings me into this focus view with the intent to make it a lot more efficient for you. Now for some of you, if you are [44:23] for you. Now for some of you, if you are a Tapkey customer, I do want to flag that we're slowly rolling this out. So if you're eager to jump into the new V, shoot us a message. We'll go ahead and start to flag those on for your account if it's not already. But it does shift everything over to the left here. And the idea for this is as soon as we're finished, we can move on to the next in Q. I'm not adding all these additional clicks for myself. So whereas we've got [44:46] clicks for myself. So whereas we've got this new view here, I'm seeing the relevant transaction details on top. I'm seeing the accounting fields here. I'm seeing the documentation, I'm also seeing the picture of it over on the right. You saw me pull this. I want to enlarge it or make it a little smaller. This is completely my preference here. I can add additional documentation if I need to. need to. My memo here allows me to add descriptors. And then there's the splits down here. So, by default, we're going to go ahead and allocate all 730 of that purchase just to the one line. But hey, maybe I need to add a split here. How [45:19] maybe I need to add a split here. How easy this is. We just go into here to bill it. We choose the home, choose the amount, and once we save, it's actually going to autoallocate that. It split that 730 down to 580. If you're like me and you like the keyboard shortcuts, you can actually just go ahead and click save and next. It's over down here on the bottom right if you want to click it yourself, but you can use a keyboard to go through that as well. Or you can cycle through [45:45] that as well. Or you can cycle through all the different transactions top to bottom as well. Just pressing J on the keyboard there. So, we're very excited to roll that out and share that with you all as well. So, of course, we are approaching sort of the end of our hour here, which has gone by so fast. And of course, there's more we, you know, are continuing to iterate on and more we want to learn from you all as far as what's helpful to have and how can we continue to improve upon that. So, I do want to open up just [46:19] upon that. So, I do want to open up just a little bit of time here to make sure if there's any potential questions or anything that we have an opportunity to address from the group. So, I'm going to pull up just my chat here over on the right hand side so I can see if there's any. So, feel free to chime in here. I'm going to give us a few minutes to share that as we think through it. Okay, I have one here for tracking of gas charges. Can you track by vehicle and mileage? and mileage? I'd want to understand how you'd want to track that. So, we do have I [47:02] want to track that. So, we do have I didn't cover that today. We do have the ability to reimburse mileage. That's actually here in my expenses. This kind of falls under our reimbursements module, which we may have separate trainings on. But what that allows us to do without going too far is create expenses here that are tied to mileage. So, we would we would essentially have whomever runs that vehicle to make that that expense submission. But yeah, I think that personally that'd be something I'd be a little interested in learning a bit more about how you might do that today and how we could [47:34] might do that today and how we could improve that as well. But for mileage reimbursements, that would be the route for us. And we could pay we could pay that person back from any any bank account that's inside of Top. About 10 minutes left in the hour. I just want to make sure everybody has enough time to chime in if they have anything. [48:23] Okay, another question here. How does it reconcile with a credit card? So, what we'll essentially do is through a function of setup, we'll go through and configure all of your ERP settings. that lives in your settings. Just to show you where you would find that, there's an integrations page. I'm integrated to QuickBooks, right? So, what we would do is make sure that we find all of those liability accounts. oh, sorry to say ERP. ERP is just a enterprise resource planning tool. So, that's like your accounting system. so, you can think about that as QuickBooks, NetSuite, Oracle, all these all these big systems where you run accounting. Zero is another one. [49:08] accounting. Zero is another one. And in in the terms of this, we would walk through you and set up all your different accounting fields that you may need so that those are one available to you here during the coding process. So you see that accounting category here. We're pulling all of that from the accounting system. And a function of that mapping allows us to tie these cards back to where they need to reconcile. So I showed earlier all you have to do is click this to sync. What's actually happening inside of we'll just pick on QuickBooks again. What's actually happening is we're creating an expense for each of these that ties into that that card activity. So the [49:44] that that card activity. So the debits and credits that you're getting in that feed from let's say Visa will create corresponding categorized expenses. We're shifting all of that forward to the card holder to Topkey and we're just posting it in its final state. We're not actually having to go we're not even having to go into QuickBooks really. We're just pushing the data there to post or a manager approving expenses. Can they receive real-time alerts like a text message or an email? Yes, that's all driven by how we would [50:32] Yes, that's all driven by how we would set up transaction notifications, right? So, at the point of sale, we are texting the card holder to provide context and coding information on the purchase. But if you need an approval, we make we have a separate notifications flow here. And this is my personal one, so some of these might not match what you see in practice, but you can see here under approvals, request is approved or decision needed. I prefer to be emailed, but I can opt into text if I'd rather be [51:07] but I can opt into text if I'd rather be texted. Right? So as soon as that's ineligible for approval, I will get that notification. Hey, hopefully that answered you there, Amanda. Okay, thanks. Kathy has a followup. Do you put the expense in top followup. Do you put the expense in Topkey first or the reimbursements? Yes, it would all take place inside of this my expenses. they have to log these individually through the create expense as I had alluded to. but since that kind of falls out of the scope of today, [51:46] falls out of the scope of today, maybe we could have a separate conversation if we could reach out to your team and and talk through what that might look like in practice. But we do plan on having more context around these that could touch upon reimbursements and we could we can go a little deeper on those, too. All righty. Few more minutes here if there's any other feedback. These are some great questions so far. All [52:44] right. And while we're while we're wrapping up here, I'll just go ahead and throw this back up on the screen just so we have this. first off, big thank you for anyone who just spent the last hour with us. hopefully you learned a lot and and can implement some of these. Now I work with quite a few of our folks. So if anyone that I know you had questions or anything feel free to follow with me directly, but we do have a customer support email for you know any existing Topkey customers. You can reach out to us at any point. we happy to to dive into anything really [53:16] happy to to dive into anything really that that suits you directly. and then finally we do these every month. So, if there's any specific financial flows or concepts that we want to dive deep into from a Topkey standpoint, let us know. We're more than happy to to set that up. I think we already have a few scheduled here. so definitely just check out our normal website there if you want to sign up for any of those. We'll kick back the recording if you can't make it.