Utility accruals are incurred during an accounting period for which no invoices have been received. Accruals are, therefore, estimated figures since the invoice, when received, may show a different amount.  Vervantis billing specialists investigate and audit every accrual to resolution, removing the need for estimates and annual reporting of accrued amounts in financial statements.

Organizations with large portfolios have found it beneficial to continue this audit philosophy into the rest of the portfolio to make sure utilities are being correctly billed. Vervantis compare utility invoices against facilities, landlord and lease agreements, and sub-tenant agreements to accurately apply charges and tenant bill-backs.

Vervantis accurately create invoices for tenants from sub-meters based on actual usage. If sub-meters are not available, our billing specialists divide vendor invoices by user-defined factors such as square footage, calculated or customized energy use intensity metrics.

Every location is subject to a thorough examination to ensure every utility account can be matched to a live site. Accounts identified as billing but vacated are closed with payment responsibilities correctly established and recorded within utility bill payment systems and accounts payable departments.

The forensic nature of the audit process provides organizations with a reliable dataset of validated accounts necessary for effective planning and accurate utility budgeting.

To learn more connect with us here or call our billing experts now: 1-888-988-5474