Lease Invoice Schedule

Introduction:

The Lease Invoice Schedule is a DocType used to manage the scheduling of lease invoices. This manual will guide you through the various fields and functionalities of the Lease Invoice Schedule to help you effectively manage lease invoicing within the Property Management Solution module.

1. Accessing the Lease Invoice Schedule Doctype

To access the Lease Invoice Schedule doctype:

1. Navigate tot the Property Management Solution module in your Frappe/ERPNext system.
2. Select Lease Invoice Schedule from the list of available doctypes.

3. | Home > Property Management Settings > Lease > New Lease (Child Table: Lease Invoice Schedule) |

4. Form Fields Explanation

The Lease Invoice Schedule doctype contains several fields to configure and manage lease payments effectively. Below is a breakdown of the key fields:

General Information

• Lease Contract The linked contract that defines the terms of the lease agreement. This field is mandatory.

• Customer: The tenant or client who will be invoiced. This field is linked to the Customer doctype.

• Property: The specific property related to the lease, linked to the Property doctype.

• Start Date: The date when the lease schedule begins. Invoices will be generated starting from this date.

• End Date The date when lease schedule ends.

Payment Details

• Total Lease Amount: The total amount to be invoiced over the lease period.

• Number of Invoices Specifies the total number of invoices to be generated during the lease term.

• Frequency Defines how often the invoices will be generated. Common Options include:

• Monthly

• Quarterly

• Semi-annually

• Annually

Invoice Schedule Table

• Invoice Date: The date on which each invoice will be generated

• Amount The amount of each invoice

• Status The current status of the invoice (Pending, Paid, etc.).

Advanced Fields

• Create Recurring Invoices: Checkbox to enable automatic generation of recurring invoices.

• Invoice Template The template used for invoice generation. This is a pre-configured invoice format fom Sales Invoice doctype.

• Reminder Before Invoice Days before the invoice is due when a reminder will be sent.

3. Using the Lease Invoice Schedule Doctype

3.1 Creating a Lease Invoice Schedule

To create a new lease invoice schedule:

1. Click on New to create a new record.

2. Select the Lease Contract related to this invoice schedule.

3. Choose the Customer and Property that will be invoiced.

4. Enter the Start Date and End Date of the lease.

5. Specify the Total Lease Amount and the Number of Invoices to be generated.

6. Set the Frequency for the invoices (e.g., mothly).

7. In the Invoice Schedule table, the system will automatically calculate the invoice dates and amounts based on the frequency and total amount.

Save the form.

3.2 Setting up Recurring Invoices

To automate recurring invoice creation:

1. In the Lease Invoice Shedule from check the Generate Invoice Schedule button at the top of the form.

2. set the date from which invoicing for property management from Property Management Settings will start. This ensures that all invoices generated are within the specified start date by the system.

3. When recurrring invoices are enabled, the system will automatically generate invoices on the scheduled dates.

3.3 Configuring Payment Frequency

To define how frequently invoices should be genertaed:

1. In the Frequency field, choose an option from the dropdown:

• Monthly: Invoices are generated every month.

• Quarterly: Invoices are generated every three months.

• Semi-annually: Invoices are generated twice a year.

• Anually: Invoices are generated once a year.

2. The sytem will automatically adjust the Invoice Schedule based on the chosen frequency.

3. Invoice Generation and Management

Once the lease invoice schedule is configured, the system will automatically handle the generation and management of invoices based on the schedule:

1. Automatic Invoice Generation: Invoice are generated based on the start date, frequency, and number of invoices defined in the schedule.

2. Manual Invoice Creation: If necessary, users can manually generate invoices by clicking on the Create Invoice button within the doctype.

3. Payment Tracking: The status of such invoice is updated automatically based on payment data from the linked invoices in the Sales Invoice doctype.

Viewing Invoices

To view invoices generated for a specific lease schedule:

1. Open the Lease Invoice Schedule record

2. Scroll down to the Invoice Schedule table to see the generated invoices.

3. Each invoice will have a status indicating whether it has been paid or is pending.

Additional Notes:

• Ensure all mandatory fields are filled out when creating or editing a record.
• Use the list view columns to quickly identify key information at a glance.
• Permissions should be set up appropriately to control access to sensitive financial data.