Changes to Invoice Level Property Tracking

  • Updated

We're dedicated to continuously improving our platform, and part of that commitment involves implementing updates that enhance the accuracy and efficiency of your financial processes. We're excited to announce that we are rolling out a significant change to how invoices function within Re-Leased.

Starting from February 2024 and completing in April 2024, the related property field on invoices will transition to a read-only status and will automatically populate based on the tracking values entered for each line item. This article will guide you through what to expect and how to adjust to this change.

Understanding the Current Limitations

Before the update, users have the ability to manually set the related property for an invoice and assign property tracking values for each line item individually. These features usually complement each other well when all line items pertain to a single property. However, in situations like an expense invoice with costs split across multiple properties, inconsistencies can arise—a line item could reference a different property than indicated by the invoice's related property field, leading to potential confusion.

How This Update Impacts Your Workflow

The imminent change means your workflow for creating invoices in Re-Leased will be modified to enhance consistency and lessen the chances of error:

  • Rather than manually selecting a related property, you will need to specify the property tracking for each line item. This will automatically set the related property on the invoice, aligning with the rules we've defined.
  • When all line items on an invoice are connected to a single property, the related property field will reflect that property. Conversely, if line items are linked to various properties, the related property field will default to "no property," ensuring accurate representation in budgets.

Adjusting to the Update

Specific steps and adjustments will need to be made once the update takes effect:

  • For multi-property invoices, it will be necessary to include "no property" in your report filters to identify such invoices within reporting tools.
  • Multi-property expense invoices will be listed in the "Invoices & Credits" tab for any property tied to the line items.

It's important to note that if you're creating invoices or bills in Xero and syncing them to Re-Leased, you won't experience a change in your workflow.

Demonstration and Further Assistance

To help you visualize this change, we have prepared a demonstration video. Please watch the video below to understand how these updates will operate in practical scenarios. This visual aid will equip you to manage the new process smoothly.

Was this article helpful?