Repeating income invoices can be used for any kind of regular income, which is not rent.
To add a new repeating income invoice:
- Click Income and Expenses on the green main menu
- Click the Repeating Income heading
- Click New Repeating Income Invoice
Filling in the invoice template
- Set how often this invoice should repeat;
- Set the next due date, this must be in the future;
- Set how the due date will be calculated;
- You can set an end date if required, but this is optional;
- Select a status you want the invoices to be generated as - Draft, Awaiting Approval or Approved. Draft is handy when charges vary but you want a reminder of who to raise charges for, for instance with metered power. The invoices generate to the draft invoice list where you can add the pricing and approve them;
- If you have selected the Approved status, check Email approved invoices so the generated invoices are automatically emailed.
Complete the invoice details as usual.
- Select a Related Property, if there is one
- Select a Related Tenancy
- Enter who the invoice is to
- Add a Reference if you wish, but bear in mind that this will be re-used for each occurrence of the invoice, so should be generic with no dates included.
- Select if amounts are entered included or excluding tax.
- Add a description, quantity, price and income account code.
- The Tax Type will automatically fill in when the account code is selected.
- The Ledger or Xero property tracking category will be automatically selected based on the related property but can be changed if required.
- Add as many lines as required and attach any documents if needed.
- Save the repeating invoice template.