So, in this one, I will show you how to add a recurring invoice for an owner.
1. First, go to the “Accounting dropdown” under Accounting & Reports and click on “Recurring Invoice”
2. This is the Recurring Invoice List View page. From here, click on the New Recurring Invoice button at the top
3. You’ll be given the option to create this invoice for either, a Tenant or an Owner. For this one, we’ll go with Owner
4. Now that we’re on this page, the first step is to choose the Property, Owner, and the Owner Bill To from their respective dropdowns. You can also use the search bar inside the dropdowns to find what you need manually
5. Enter a Title and a Summary in these fields
6. Most of the fields in this section are pre-filled, except for the optional fields, which you can fill in as needed
7. Enter a Purchase Order, Work Order, and Account Number in the empty fields. Use the Payment Due dropdown to set a due date, like 3 or 7 days.
8. In this section, enter an Item Name, select a Category, add Quantity, Unit, and Price- the amount auto-fills. You can also add a Description and choose a Tax from the dropdown.
9. Click on this button to add another item to the invoice
10. The Subtotal, Tax, and Total are automatically calculated, and will be displayed here, so no manual entry is needed
11. Tick the Auto Adjustment box, to let the system automatically close the owner invoice, by verifying and logging a payment if enough income is recorded within the monthly cycle
Alternatively, you can tick Exclude from Owner Payout, if you want to record the invoice payment without processing an owner payout, or if the owner will be making the payment separately.
12. Add Notes and a Footer in these boxes (Optional)
13. Click on the “Next, Set Schedule” button to proceed
14. This page lets you set the repetition time, by selecting options from the Monthly dropdown. Choose the day of the month, on which the invoice will be created. Set the first invoice date, and define the end period—for example, you can set it to end after 2 or 12 months
15. Make sure to change the Draft dropdown to Approved under the Set Invoice Status option
16. Now, click on the Submit button
17. This page shows the Recurring Invoice Status as Active. Simply scroll down
18. And the completed invoice will be displayed here
19. View this invoice from the Recurring Invoice option in the Accounting dropdown
In this video, I tried to show you, a seamless process to add Recurring Invoice for Owner. Let’s see, what’s next.