Although you can manually enter all your bills into Xero, LoftyWorks provides a built-in tool that allows you to enter the necessary information to raise a bill in Xero. This is the ideal method for entering bills for each property since it assures that all bills are marked as Awaiting Approval and eliminates the potential of a user unintentionally approving it before it is ready to be paid.
There are two methods for adding a bill to LoftyWorks
Add Bill via the property record:
Go to the property to which the bill belongs and then to Expenses in the drop down menu on the left:
The green "Add Bill" button is located on the right side of the expenses screen. Selecting this will open a pop-up window where you can enter the details you want to bill. Fill in the appropriate details according to the input fields, and then press select after you are satisfied that all of the information has been entered correctly.
This bill will then be reflected in Xero under the Awaiting Approval area until the rent is received.
The bill will also be displayed on the expense page, and you may view a copy of it by clicking on the PDF icon.
Add Bill via Finance section
Go to Finance, then Bills. There is a green button at the top of the screen that allows you to add bills.
Selecting this option will bring up a second pop-up page where you can enter the bill's information. The only difference between this page and raising the bill from the property is that you must search for the property, whereas previously the property section was filled automatically.
As before, enter the appropriate information and then select after you are satisfied that the information is correct. This will also raise the bill in Xero under "Awaiting Approval" and make it visible under expenses on the individual property.
Management Fee Bills
Management Fee invoices, like Rent Invoices, are raised significantly differently than other bills. In fact, the Management Fee Bill is raised alongside the rent invoice. If you have set the rent invoice to be generated automatically, a bill for the management fee will be generated in conjunction with the rent invoice as long as you have updated the management fee on the relevant contract.
To ensure that the Management Fee Bill is generated automatically, you must first complete the processes outlined earlier. Once this is done, you only need to specify the management fee under Contracts, Details, and fee.
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