How to make Vendor Payments Simple, Documented & Easy to Track..
A clear process reduces mistakes and makes it easier for sales, administration and accounts teams to know what has been approved and what is still outstanding.
Vendor payments should be simple, documented and easy to track.
A clear process reduces mistakes and makes it easier for sales, administration and accounts teams to know what has been approved and what is still outstanding.
Confirm the approved campaign first.
Before processing any payment, check that the vendor has approved:
The marketing campaign
The total budget
Any optional items
Any later changes
The chosen payment method
Do not process unapproved costs.
Know the payment method.
The vendor may be paying:
Upfront
Through an approved agency payment process
Through a Property.Credit pay-later option
Record the chosen method against the property file.
Match payments to the correct property.
Every payment should be linked to:
Vendor name
Property address
Campaign budget
Invoice or reference number
Payment date
Amount paid
Avoid relying on email trails alone.
Check the amount received.
Confirm that:
The amount matches the approved campaign
Any deposits are recorded
Any balance owing is clear
Optional items are included only if approved
If there is a difference, resolve it before ordering additional work.
Processing Property.Credit payments.
Where the vendor uses Property.Credit:
Follow the agency’s approved process
Confirm the approved funding amount
Check which costs are covered
Record the payment or funding reference
Keep the vendor’s approval on file
Use Property.Credit’s current information for fees, terms and eligibility
Agents should not make assumptions about approval or repayment arrangements.
Keep supplier payments organised.
Once vendor funds are received or approved, check:
Which suppliers need to be paid
When payment is due
Whether invoices match the approved quote
Whether any costs have changed
Do not pay a higher invoice without checking the reason.
Keep the vendor informed.
The vendor should be able to see what they have approved and what has been paid.
Where practical, provide:
Campaign total
Payments received
Outstanding amount
Approved extras
Any changes to the original budget
Keep the reporting simple.
Watch for campaign changes.
Marketing costs can change during the campaign.
Examples include:
Extra portal upgrades
Additional social advertising
Extended styling
New photography
Extra print
Get vendor approval before adding the cost.
Then update the campaign total and payment records.
Agent Action Plan.
1. Confirm approval
Check the campaign and budget.
2. Record the payment method
Note whether the vendor is paying upfront or using Property.Credit.
3. Match the payment
Link it to the correct property and campaign.
4. Check supplier invoices
Make sure costs match approved amounts.
5. Record any changes
Update the campaign budget when extras are approved.
6. Keep the vendor informed
Show what has been paid and what remains outstanding.
A good payment process should make it easy to answer three questions at any time:
What was approved?
What has been paid?
What is still outstanding?