Fill Out Your Yardi Manual Form

What is the purpose of the Yardi Manual form?

The Yardi Manual form serves as a guide for the accounts payable process within the Yardi Voyager system. It outlines procedures related to vendor management, invoice entry, payment processing, and check issuance. This form is designed to help property managers and staff understand their responsibilities when managing financial transactions with vendors.

How can I add a new vendor using the Yardi Manual form?

To add a new vendor, navigate to Payables > Vendor > Add Vendor in the Yardi system. You will need to enter specific details such as the Vendor Code, Vendor Name, and address, including City, State, and ZIP Code. Additionally, at least one telephone number is required. You can check the Consolidate flag if you wish to issue a single check for multiple invoices. Ensure you complete any necessary tax information if the vendor qualifies for a 1099 form. After filling in the relevant fields, click SAVE to complete the process.

What steps should I follow to search for an existing vendor?

To search for an existing vendor, go to Payables > Vendor > Review Vendor. You can utilize the vendor filter to narrow down your search by entering the vendor's name, city, state, or zip code. Click the FIND button after entering your search criteria. If the vendor exists, it will appear in the search results. You may also filter results using partial names or specific identifiers like vendor codes or contact numbers for more precise searches.

What information is required when setting up a vendor in the Yardi system?

When setting up a vendor, you need to provide several pieces of information. This includes the Vendor Code, Vendor Name, and full address, which must encompass the city, state, and ZIP Code. You are also required to enter at least one telephone number. For 1099 eligible vendors, complete the Tax Information section with pertinent details from the W-9 form. Additional details like email addresses, insurance expiration dates, and notes about contractor retention can also be included. Once all required fields are filled out, you must click SAVE to finalize the setup.

When filling out the Yardi Manual form, one common mistake is failing to verify if the vendor already exists in the system. Before creating a new vendor, it’s crucial to perform a vendor lookup using the company name or details from the W-9 form. This step helps prevent duplication, which can lead to confusion and errors in accounting records. Missing this step can complicate future transactions and audits.

Another significant error is incomplete information when adding a new vendor. Each vendor entry requires specific details such as a Vendor Code, Name, Address, and at least one Telephone Number. Insufficient information may lead to difficulties in retrieving vendor records later, making it challenging to process payments or resolve discrepancies. Always double-check that all essential fields are filled out correctly.

Users often overlook the importance of using the correct coding conventions for Vendor Codes. Adhering to the designated coding policy ensures consistent and efficient tracking of vendor activities. This mistake can hinder the searchability of vendor records, making it tedious to pull up necessary information in the future.

When filling out the Tax Information section, many people misinterpret what is required. It’s key to accurately enter the Tax Identification Number and other details relevant to 1099 forms. Any inaccuracies can result in tax complications for both the vendor and the managing party. Ensure that the information provided matches the vendor’s W-9 form to avoid issues down the line.

Finally, another frequent misstep is neglecting to review and save the entries. After entering all information, it is essential to click SAVE to ensure that the vendor details are properly recorded in the system. Failing to do so can lead to a complete loss of data entered, causing delays in processing payments and requiring users to redo the work.

The Yardi Manual form is a crucial document used within the Yardi Voyager platform, particularly for managing payables and vendor data. However, it is often accompanied by various forms and documents that streamline processes and enhance efficiency. Understanding these associated documents can improve compliance and ease the overall workflow. Below are some of the common forms and documents used alongside the Yardi Manual form.

• W-9 Form: This form is essential for collecting taxpayer identification information from independent contractors and vendors. Businesses use the data on the W-9 to issue 1099 forms at year-end.
• 1099 Form: Issued to independent contractors and vendors who are paid $600 or more in a tax year, this form is crucial for reporting income to the IRS.
• Vendor Setup Request: This document initiates the process of adding a new vendor into the system. It includes essential details such as vendor names, addresses, and payment terms.
• Invoice Form: The invoice serves as a request for payment for goods and services rendered. It outlines the amount due, payment terms, and itemized descriptions.
• Purchase Order: This document formally requests a vendor to supply certain goods or services. It establishes a legal agreement on pricing and delivery terms.
• Check Request Form: Used to obtain authorization for payments, this form documents which invoices need to be paid and ensures proper review and approval.
• Payment Remittance Advice: This is sent to vendors to inform them of payment processing. It details the invoices being paid and can help avoid discrepancies regarding payments.

Using these documents in conjunction with the Yardi Manual form not only aids in maintaining compliance but also enhances the overall efficiency of financial operations. Ensuring all forms are accurately filled out and submitted timely can prevent delays and foster better relationships with vendors.

• Accounts Payable Manual: Similar to the Yardi Manual form, an Accounts Payable Manual provides detailed guidance on the accounts payable process, including vendor management, invoice processing, and payment approvals. It often contains procedures for creating vendor records and managing financial transactions, ensuring that all aspects of accounts payable are comprehensively covered.

• Vendor Management Guide: Much like the Yardi Manual form, a Vendor Management Guide outlines the procedures for adding, reviewing, and maintaining vendor information. It details how to verify vendor data and manage relationships, parallel to the Yardi guide’s structured approach to vendor setup and maintenance.

• Invoice Processing Guide: This document shares similarities with the Yardi Manual form by detailing the steps required for invoice entry and processing. It covers invoice creation, approval workflows, and the methods for recording payments, much like the streamlined approach found in the Yardi manual.

• Payment Processing Procedure: This document aligns with the Yardi Manual form by offering a clear framework for executing payments, including check writing and electronic payment methods. Both documents emphasize accountability in financial transactions, from initiation to completion, ensuring that all processes are followed meticulously.

When filling out the Yardi Manual form, it's essential to follow certain guidelines to ensure accuracy and compliance. Here’s a helpful list of dos and don'ts:

• Do perform a vendor lookup before creating a new vendor.
• Do use the appropriate coding conventions for the Vendor Code.
• Do fill out all necessary contact information, including a minimum of one telephone number.
• Do ensure that the Tax Information section is completed for vendors receiving 1099 forms.
• Don't skip entering critical information, such as the Vendor Address and Email Address if available.
• Don't forget to check the Consolidate flag if you need to write a single check for multiple invoices.
• Don't enter inaccurate or outdated information for insurance expiration dates.
• Don't create duplicate vendor entries without verifying existing records first.

Here are 10 common misconceptions about the Yardi Manual form:

1. All Vendors Must Be Entered Manually: Many believe that every vendor has to be set up from scratch. In reality, vendors can often be reused across different properties, minimizing repetitive data entry.
2. The Form Is Only for Large Companies: Some think the Yardi Manual is only for large corporations. However, it is equally beneficial for smaller businesses managing accounts payable.
3. Invoice Entry Is Complicated: It's a common belief that entering invoices is a tedious task. In fact, the system is designed to simplify this process with clear steps and filters.
4. You Can’t Edit Vendor Information: Some users think that once a vendor is set up, their information cannot be altered. You can edit vendor details whenever necessary.
5. Only One Person Can Access the Form: There's a misconception that only one person can use the Yardi Manual at a time. Many users can access the system concurrently, each with their own permissions.
6. The Vendor Lookup Feature Is Limited: Some may think that the vendor lookup options are restricted. In reality, you can search by multiple fields like name, city, or even phone number.
7. You Don’t Need to Check Existing Vendors: Some believe that setting up a new vendor is straightforward, but it’s crucial to perform a lookup to avoid duplicates.
8. Manual Checks Cannot Be Recorded: There's a notion that manual checks can’t be documented in the form. In fact, the Yardi Manual includes clear steps for recording them.
9. Training Isn’t Necessary: Some assume that anyone can figure out the Yardi Manual without training. However, a little training can prevent costly errors and streamline the process.
10. All Necessary Features Are Easy to Find: Not all users realize that some features may require a bit of digging. Familiarizing yourself with the layout is key to efficiency.

Here are key takeaways for filling out and using the Yardi Manual form:

1. Understand Vendor Requirements: A vendor must be set up for anyone who will receive a payment. Ensure that you have all necessary details such as name, address, and payment terms ready before starting the entry process.
2. Perform a Vendor Lookup: Always check if a vendor already exists in the system to avoid duplication. Use filters to search by name, address, or other criteria.
3. Follow Data Entry Steps: When adding a new vendor, carefully input the vendor code, name, address, and key contact information. Ensure data is accurate and complete.
4. Utilize Consolidation Options: If a vendor has multiple open invoices, consider checking the Consolidate flag. This allows you to write a single check for all invoices, simplifying the payment process.
5. Document Insurance and Tax Details: Enter expiration dates for insurance certificates, and provide relevant tax identification information especially for vendors receiving 1099 forms.
6. Check for Additional Notes: If there are any applicable contractor retention requirements, make sure to check the corresponding box in the notes section.
7. Save Your Work: After entering all necessary details and reviewing for accuracy, remember to click SAVE to ensure that the vendor information is properly recorded in the system.