Last updated: 3/5/2020
In order to improve our bill paying process, the finance team has updated the requirements for manager approvals and budget designation. First, to improve the accuracy of our financial reporting, all bills sent to the finance team must include a designation of which departmental budget line should be used for the expense. This designation should be written onto the face of the bill. Secondly, all bills that require manager approval (bills $5,000 and greater), must include the manager's signature on the face of the bill. Implementing these requirements will alleviate unnecessary back and forth, ensure all bills are appropriately approved, and ensure all expenses are recorded in the correct budget.
While paper invoices can be physically marked, signed, and scanned, most of the bills received at B Lab are electronic. These bills will require electronic signatures and notes to be added. There are 2 programs available to B Lab staff to add electronic signatures and notes to PDFs to fulfill these requirements. Each will be described below, along with detailed instructions on how to use them.
Programs for electronic signatures
- Adobe Reader DC (Mac and PC users)
- Preview (Mac users only)
Adobe Reader DC
Adobe Reader DC is a free program that you can download online. It functions as a program to open and view PDFs, and also contains the ability to add electronic signatures and notes to documents.
Getting Set Up
Download the program from the Adobe website here (uncheck the options to include McAfee Virus Protection). The electronic signature function is found with the "Fill & Sign" tool. You can save your personalized signature into the program and drop it anywhere on a PDF document. "Fill & Sign" also includes the ability to add a text box to provide additional notes and detail to the document.
Preview is a native Mac program that comes pre-installed on your Apple computer. It functions as a program to open and view PDFs, and contains the ability to add electronic signatures and notes to documents.
Getting Set Up
Please review the detailed steps on Apple's website (found here) to add electronic signatures and notes with Preview.
Workflow for Sending Bills to Finance
When you receive a bill from a vendor, here are the steps to submit it for payment:
- Review the bill for any errors
- Add a text box detailing the exact budget line to be charged
- For all bills over $5,000, add your electronic signature
- Send the approved bill to the finance team via our firstname.lastname@example.org email
Requirements for Invoices
As you review and submit invoices for payment, here are the items that should be present on all invoices:
- Name of vendor
- Address of vendor
- Invoice Date
- Due Date
- Final amount due (and currency - if different than USD)
- If the vendor is an individual, independent contractor, freelancer, or a company organized as a single-member LLC, we also need a copy of their W9 to obtain their tax ID
- Vendor's bank details (Routing number & Account number) for us to initiate an ACH payment
- Use this template to request bank details
We appreciate your partnership to improve our bill paying process, cut down on unnecessary back-and-forth, and ensure our financial reporting remains accurate and timely.
The Finance Team