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home/Knowledge Base/Property Owner Related/How to create an owner invoice?

How to create an owner invoice?

16 views 0 December 5, 2022 Updated on February 12, 2023 mippsupportadmin

Follow the steps below to create an owner invoice in the portal:

  • Log in to the portal.
  • From the left navigation, click Accounting > Inflow > Invoice
  • Click the ‘+Owner Invoice’ button from the top-right on the page
  • Select A Property and ‘Bill To(Owner)’ from the drop-down list
  • Provide a ‘Title ‘for the invoice. Optionally, you can add a ‘Description. ‘
  • The ‘Pay To ‘section will be auto-populated with your business profile information.
  • The system will auto-generate an invoice number and populate date information with Today’s Date.
  • Enter the ‘Item‘ name, select a ‘Revenue‘ chart of account, enter quantity and unit price information
  • Select a ‘Tax Code ‘if you are going to charge tax
  • Add multiple items, if applicable.
  • Check ‘Auto Adjust Payment’ to automatically close this owner invoice. If selected, the system will verify and log a payment as an adjustment if there is enough recorded income to cover the amount in this invoice within this monthly cycle.
  • Or Check ‘Do Not Adjust, Owner will Pay’ – This amount will be paid by the owner separately. This option will allow you to collect the overpayment amount from the owner.
  • Optionally, upload an attachment; here you can select multiple documents to upload and fill in other fields at the bottom.
  • Click ‘Save & Approve‘ to create the invoice. 

This ‘Owner Invoice‘ will now show up in the ‘Rent & Disbursement’ report as a ‘Reimbursable Expense‘.

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