Turnover rent is currently available to a limited group of customers as part of a beta.
Before you can use turnover rent on any lease, an administrator needs to switch it on for your organisation and set up a default invoice template. You only need to do this once. This article covers both steps.
Before you start
You'll need administrator access to your organisation's settings. If turnover rent invoices should post to your trust or client account, make sure trust accounting is already set up.
Turn on turnover rent
Go to Settings.
Open the Turnover Rent settings.
Switch the Enabled toggle on.
Turnover rent is now available across your organisation. You can switch it off again at any time from the same screen.
[Image 1: The Turnover Rent settings page with the Enabled toggle switched on]
Create your company invoice template
The company invoice template sets the defaults used when turnover rent invoices are raised. Setting it up once saves you re-entering the same details on every lease, and each lease can still override these defaults where needed.
On the Turnover Rent settings page, select Create template.
Complete the template details:
Chart of account — the account turnover rent income posts to.
Tax type — the tax rate applied to turnover rent invoices.
Due date — when turnover rent invoices fall due.
Invoice status — whether invoices are created as drafts or approved automatically.
Description template — the default wording that appears on the invoice line.
Save the template.
Your template details appear as a summary on the settings page. To change them later, select Edit template.
[Image 2: The company invoice template summary showing chart of account, tax type, due date, invoice status, and description]
Next steps
With turnover rent enabled and your template in place, you're ready to configure it on individual leases. See Setting up turnover rent on a lease.