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Managing Property Tax and Insurance Payments for UPS Stores

To effectively handle property tax and insurance payments while ensuring accurate accrual accounting and automated ledger updates, follow these steps:

  1. Send bills to Accounts Payable: Forward property tax and insurance bills directly to your Accounts Payable department in Docyt.

  2. Specify the accrual schedule: In Docyt, ensure the Period option is correctly set to match the accrual schedule for each expense type. Your Account Manager will provide guidance on categorization and period determination.

Paying the bills:

  • Initiate the payment process using Docyt's payment functionality.
  • Select the preferred payment method, such as a Docyt check, for making the payment.
  • If necessary, attach the original invoice to the payment transaction for reference and documentation purposes.

By following these steps, you can efficiently manage property tax and insurance payments in Docyt, ensuring accurate accrual accounting and benefiting from automatic ledger updates.