Turnover rent is currently available to a limited group of customers as part of a beta.
Reconciliation is the end-of-period check that compares the turnover rent you've already charged against the amount actually due, based on the tenant's confirmed sales. Re-Leased then helps you raise an invoice or credit note for any difference. This article walks through the full reconciliation process.
When to reconcile
You typically reconcile at the end of a calculation period — for example, at the end of the trading year — once the tenant has provided their final, audited sales figures. Reconciling lets you correct for any differences between the estimates charged during the period and the actual amounts.
Start a reconciliation
Open the Turnover Rent hub.
Select Create reconciliation.
Choose the tenant and the periods you want to reconcile together.
[Image 1: The Create reconciliation dialog showing period selection for a tenant]
Enter the actual figures and review
Enter the tenant's actual sales for the periods, adjusting the recorded figures where they differ from what was reported during the year.
Re-Leased recalculates the turnover rent due and shows a preview comparing:
the turnover rent already invoiced during the period, and
the turnover rent actually due on the confirmed sales.
Review the outcome, which will be one of:
Exact match — nothing further to charge.
Under-billed — the tenant owes more, so an invoice is needed.
Over-billed — the tenant was charged too much, so a credit note is needed.
Attach any supporting documents and add notes if needed.
[Image 2: The reconciliation preview showing amount already invoiced, amount due, and the net adjustment]
Submit and approve
A reconciliation moves through a series of statuses so it can be reviewed before anything is charged:
Draft — you're still working on it and can edit the figures.
Submitted — it's ready for review.
Approved — it's been checked and approved, ready to generate the adjustment.
Completed — the invoice or credit note has been raised.
Submit the reconciliation when the figures are final, then approve it. Depending on your permissions, approval may be done by someone else.
Raise the invoice or credit note
Once approved, generate the adjustment. Re-Leased raises the correct document for the outcome:
an invoice for the additional turnover rent where the tenant was under-billed, or
a credit note where the tenant was over-billed.
The document uses the invoice settings from the lease. Once it's raised, the reconciliation is marked Completed, and the reconciled periods are locked so the figures can't be changed after the fact.
Finding your reconciliations
The Reconciliations tab in the Turnover Rent hub lists all reconciliations with their status, outcome, and any linked invoice or credit note. Use the filters to find reconciliations by tenant, status, or period.
Related articles
See Recording sales figures for a period and How turnover rent is calculated.