Is it just me or does anyone else hate LPS Desktop invoice management system. It is the slowest system I have ever used. I think some banks use it just to make it difficult to submit for reimbursement, kind of like a mail in rebate. We get frustrated enough that we just give up.

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  • It just seems like a scam to avoid reimbursing agents. They claim it's simplifies invoicing?! They could not make it more complicated. Looks like I am going to lose abut $700. Just can't get anywhere with loasphere/black night. Not good. 

  • My VAs and I are thoroughly experience in using LoanSphere. I have no issues with the system. About 90% of invoices submitted are approved and paid in less than a week. I guess it just comes down to how you are submitting the invoice as well as the supporting documents you provide. Apart from reimbursements, we have also used this system to obtain CFK payment prior to eviction dates as well as other misc items e.g., HOA payoffs. 

    I have a spreadsheet that I use for each of my clients to keep track of all invoices. This also helps the process. In regards to the monthly statement, you just print it out the 1st of every month and send it along with the payment before the 10th.

    I attached a screenshot of invoice data on one of the accounts my team takes care of. It's a really simple system once you know how to use it. 

    If anyone would like to speak about this service, please feel free to reach out to me.

    Pam Maglione,

    Pam's VAS 


  • Just my 2 cents,
    1-read your clients' requirements and understand them thoroughly. Submit the required docs accordingly. The fact is Your asset manager may know what expenses have incurred well but the person that approves the check is trained to follow the procedure to the "t".
    2-set up a routine and a system. Dedicate a folder for LPS- 1 folder for each-incoming, Outgoing and Paid on your laptop. You upload every bill waiting for you to pay in Incoming folder. Then, Set up an "reimbursement" folder under each property , then, another folder labeled what it's for. For example, under 123 Acme street-reimbursement- electricity-January: you copy and paste your invoice, proof of payment, before and after pics and the approval from your asset manager. Set up 1-2 days a week on the same days every week for submitting reimbursements. If you don't have new invoices that week, great. If you do, depending on how busy you are, spread it out in those 2 days. Use the street name plus a numeral number to track the property and the # of invoices you have sent. After you send out that reimbursement request, save that report in Outgoing folder. When reimbursement comes in, move that report to Paid. If you sort these reports in outgoing and paid folders alphabetically, you can easily track how many reimbursement reports each property has incurred. I underline the important info such as address, $ amount, date and name of the task on the docs and I always have my request approved right away. How do I know? I click on the " chronology" tab. It might seems tideous but you can teach it to an assistant. I basically create a trust that the person on the other end always thinks I do a thorough job. I just think time and energy is more wasted, not to mention that $5, here and there adding up, if reimbursement isn't done correctly the first time. Sometimes, the person's instruction of correction can be even more confusing and he/she doesn't pick up the phone!
    3- the invoice fee is business write off.
    If anyone has a much simpler way, please!
  • I have used Safari 9.0 for invoice management, I can get all the way to submit for payment and then it does not let me submit it, especially if there is a comment required.  So I go to firefox and do it.  Also, I have windows 10 at home and I can get all my invoices set for submission, then on hold, and then I get home, log in and just submit all of them.

    yes, it is the bane of my REO business.

  • I just had to use them again after years of not dealing with them.  Hopefully here are some helpful tips.

    Keep that help phone number handy, you will need it more than once

    You HAVE to use Internet Explorer only

    Just know you have to change your password about once a month so have variations of the same one in mind a head of time

    If possible, save up your invoices (they can not be over 30 days old to submit them) and enter them all at one time.  Each time you 'create a new invoice" you get changed $5.00 - EVEN if you have not submitted them for reimbursement or you cancelled one you started.  They all have to be 'on the same invoice' to avoid the additional $5.00 fee - EVEN if someone at LPSdesktop has told you differently.  Can you tell I battled this one out already?

    When you go to make a new invoice you have to name it.  Be sure and write that name down or remember it because otherwise you will not be able to find it again to add more to it.

    Once you have jumped through all the hoops to create an invoice and have added one, simply click on 'Add' to put your next invoice in.  If you have one entered but want to wait for more to enter, just save.

    When you go back in to enter more invoices on the same invoice you already started, click on 'Open an existing invoice' on the home page and use the name you gave the invoice to pull it up and click on ADD in order to add it to the same invoice so you only get charged $5.00 for all the invoices you submit under that one invoice.  I hope this makes sense!

    Lastly, keep an eye on your reimbursement progress by clicking on 'Reports' in the top tabs, then 'General Invoice Status' and again, you need the name of the invoice you are looking for or you can search by date range, too.  Once in, you can check on when your check was approved, the status of it and the date it was paid.  If it was approved but not showing paid, call the above number!

    Know this is an antiquated process they are using and you have to pay for you past usage (as CeCe says - 7 years!) before you can get reimbursed for new invoicing.  You have to go in 'Reports' and print your own invoice from 'Vendor Monthly Statement' and send a check for the amount or you won't get any reimbursements!  They do not notify you.  If you do not pay and your current invoicing goes over 30 days, you could, and probably will, loose your opportunity to be reimbursed.

    I hope this helps those of you who are new to this antiquated system.

    • I have tried the multiple invoices and the most I could ever get is three items per invoice.  Like 1 electric 1 gas 1 water.   If you have something extra like a rekey, you will have to submit it separately.  Or when you have a final electric you will need to submit the current bill and the final separate invoice.   I don't think they accept two of the same utility bills on the same invoice.

      Another thought, the sellers probably pay a fee to use LPS, I don't think the whole system is set up and maintained just on the 20$-30$ a month I send it.  So I am sure they are double dipping. 

      LPS won't go away, its an easier way to the sellers to pay you and not have to deal with setting up their own system.   Personally, I have a lot of gripes with LPS, but if you put the shoe on the other foot and realize your assistant or whoever inputs the bills doesn't have to learn 5 different systems with 5 different passwords, it might not seem so horrible system to use.  One of my complaints is that they won't just take a credit card for the $5 I have to mail a very small check every month.  I sent 60$ extra one month so I wouldn't have to deal with it, and they sent me a refund check and then the next week sent me a letter about cutting me off for being delinquent.  I called and they said they weren't set up for anyone to pay anything at all in advance. 

      So yes, I agree with everyone its a totally antiquated system that isn't even designed for the real world.   Much like the sellers that don't accept the electronic receipt as proof of payment, you have to send a copy of a check that you could have just actually mailed.

  • If you are having trouble getting in it is probably because like many people you have upgraded to Window 10 and their system is not compatable with the new system. You have to use an older version of explorer to get in. This is what I was told by their customer support person.

    The reason, in my opinion, that many companies use them is so that we the agents can pay for the processing cost at $5 per invoice. Se we are paying for processing someone else's expenses.

    One trick I use it to submit multiple invoices under one invoice number so as to minimize the cost as much as possible.

    This is just one more way for sellers to shift their cost off on the agents. At some point we need to let them know that 2009 is over and agents aren't desperate to get their listings at any price.

  • Such a horrible way to send invoices to get reimbusements. I've alway had the nicest people to get me unlocked. And to think we have to pay to get our reimbursements.  LOL 

  • I told them -blk Knight Sol'n to take a hike on an estate $3.6M for $35 rocks. Fidelity bought them. Terrible pay.

  • Nick - I think you are right. 

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