Creating invoices for rent and other income

Creating invoices for rent and other income

Getting paid is high on the priority list of any business and for landlords it is no different. Our advice is be consistent and make it easy for your tenants to pay. By providing clear rent invoices, details of how to pay and keeping track of payments with prompt chasers will contribute to a stress free business and more reliable cashflow.

Working with letting agents

You may use a letting agent to handle day to day matters including billing tenants and rent collection. Letting agents typically send a monthly rental statement to landlords with details of rent collected and any deductions such as agent fees and maintenance. 
Letting agents statements are important records for your company. They must be replicated in Provestor - please read this guide for more information

Invoicing in Provestor

Before you create an invoice an accountant will need to add your property to Provestor and you need to have setup a tenant
Here we explain how to create one off invoices or automate the process.

Setting up an automated repeating invoice

This method saves you time by automatically generating an invoice every week or month. It will not automatically email the invoice to tenants.

To create a repeating invoice:
  1. Navigate to your invoicing screen ⧉ by selecting Rent then Invoices in the menu.
  2. Click the New repeating invoice button
  3. Select the tenant from the list
  4. A new repeating invoice will be displayed pre-populated with details you entered for the tenant (If you need to change anything, edit the tenancy)
  5. Set the invoice frequency, either weekly or monthly
  6. Set the day or date when the invoice will be created
  7. Click the Add line button and select the category of the item you are charging for e.g. rent or maintenance
  8. Enter a description and price in the new line that appears on the invoice
  9. Click the save button (click off the line item if the save button is still grey)

Creating a one off invoice

You may prefer to create invoices manually or need a one off invoice for property repairs for example. The process is the same as above except you click the New invoice button instead of repeating invoice.

Sending invoices to tenants

Clicking an invoice in the invoicing screen ⧉ gives you buttons to View PDF or Email PDF to send it to tenants straight from Provestor. 

If you email from Provestor, a pop up message is displayed allowing you to add a message before sending.

Recording invoice payments

Cash payments
Should a tenant wish to pay you in cash we strongly recommend you ask them to deposit it into your business bank account. This ensures you can accurately reconcile your business bank account and helps reduce the risk of directors loans and potential for additional tax. If for any reason you accept the cash, we recommend you deposit the full amount in your business bank account.  
When you receive payment of an invoice and it shows on your business bank account, you can then mark it as paid. This is done as part of your Bookkeeping.

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