$16K Refund – The Little charges add up: An Expensive Water invoice lesson!
The Little charges add up! – An Expensive Water invoice lesson
Identifying all of the charges on the water and sewer invoice sounds like a task too tedious for such a little reward. Water tariff rates are typically set by the Water Company and there are only a couple available and most often, only one tariff that your company will be able to utilize. Sometimes the invoices are right and sometimes they are wrong, so how do you determine if your water invoices are wrong and how do you manage that month after month for all of your locations and water meters?
A nationwide optical retailer and manufacturer has over 800 locations for which their Accounts Payable team is processing thousands of invoices monthly. The initial thought about water invoices was just to get them processed, allocated and paid. Identifying errors was not on the forefront of the Manager of Accounts Payables list of tasks with these types of invoices due to the time sensitivity in getting the invoices paid to head off any disconnection of services. Utilizing RadiusPoint’s Utility Expense Management services made huge inroads to not only managing the invoices and expenses but also in recovering overpayments due to errors.
The Manager of Accounts Payable had several items on his wish list when offloading the daily responsibilities of their utility invoices to RadiusPoint. Being able to see consumption in gallons was on the wish list, as was, paying all invoices on time and imaging the invoices.
RadiusPoint was able to get all of the invoices set up in ExpenseLogic, RadiusPoint’s proprietary software, for the monthly allocation, processing and payment of the invoices. The line item detail allows for each fee on the invoice to be broken down by meter. A limit is set for each line item based on dollar amount or consumption so that each month an audit is performed on the various line items.
The Storm Water fee for a location was over $1,500.00 per month when the water portion of the invoices was only $50.00 per month. Talking with the vendor allowed RadiusPoint to identify the error that was on the Water Company’s calculation of the square footage of the parking lot that belonged to the location. The Storm Water fee was calculated on the square footage of the entire strip mall parking surface, instead of the 4 parking spaces that were allotted for this location. This location was paying the Storm Water fee for the entire strip mall!
Using RadiusPoint’s Utility Expense Management services allowed this company to recover over $16,000.00 in one refund!
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