Re-Leased is an invoice-based platform without built-in accruals and prepayments support between service charge periods. This guide explains how to handle these adjustments manually using invoices and credit notes dated across the relevant periods.
Create a dedicated contact called Accruals/Prepayments to streamline these transactions. Ensure the tax type remains consistent between each invoice and its credit note — these adjustments should not affect your VAT/GST/Tax position.
Expense Accruals
Create an expense invoice with one line item per chart of account requiring an accrual. Set the issue date within the current service charge budget period (tip: use the last day of the period). Enter SC Accrual as the description and select Out of Scope as the tax type.
From within the invoice, click Credit Invoice. Change the issue date to the next service charge period (tip: use the first day of the new period).
Allocate the credit note against the invoice to reverse the accrual in the new period.
Income Accruals
Create an income invoice per tenancy using their service charge income chart of account code. Set the issue date within the current service charge budget period. Enter SC Accrual as the description and select Out of Scope as the tax type.
Click Credit Invoice and change the issue date to the next service charge budget period.
Allocate the credit note against the invoice to reverse the accrual in the new period.
Expense Prepayments
Create an expense invoice with one line item per chart of account requiring prepayment. Set the issue date in the next budget period. Enter SC Prepayment as the description and select Out of Scope as the tax type.
Click Credit Invoice and change the issue date to the current service charge budget period.
Allocate the credit note against the invoice to place it in the upcoming period for prepayment reversal.
Income Prepayments
Create an income invoice per tenancy using their service charge income chart of account code. Set the issue date in the next budget period. Enter SC Prepayment as the description and select Out of Scope as the tax type.
Click Credit Invoice and change the issue date to the current service charge budget period.
Allocate the credit note against the invoice to place it in the new period for prepayment reversal.
Additional Tips
Create a separate ledger for accruals/prepayments if you prefer they don't appear on owner statements. Use a statement format with a sheet per ledger for easy management.
For large volumes, use the Import Invoices option from Income & Expenses to bulk-create invoices. Note: credit notes cannot be imported and must be created manually.
Service Charge Budgets (EMEA) are referred to as Outgoing Budgets in Asia-Pacific, and CAM Budgets in North America. For more information on regional terminology, see our Glossary of Regional Terminology.