Create Your Free Printable Rent Invoice for Legal Needs

Free printable rent invoice for Legal

[Music] hi everyone i'm lori ellison from hudson valley bookkeeping and today's video i'm going to teach you how to invoice your tenants and how to also set that up for a recurring transaction all right let's get started okay guys let's talk about invoicing tenants um i'm trying to make this a quick video but honestly you have to have some basics down so i'm hoping you watch some of my other videos but let's just talk about the first piece i'm going to go over into chart of accounts the most important thing you do before you go and try and invoice your client excuse me your tenant is you're going to want to have um your rental income code set up okay so if you have one unit or two units or three units make sure you first create your building create your sub units of rental codes like rental 101 main street is your building and a sub income and a sub of that unit a unit b unit c as income codes i'm going to show you what i'm talking about these are already set up so see this one building one i have unit one building one unit two building one unit three unit five i don't know where four is but these are all income codes right and then if i have a second building i first make a parent for that building and then i have different units for that one that's step one you've got to get your chart of account income codes correct all right so make sure you build this first before you go on to the next piece so i'll make one i'll make a unit four for building one so you go up here to the top and this is frustrating this is the um what did we call these this is hard because this is this weird one okay wait we have this building i already have it right set up so building one and i'm gonna do unit four four and i've it already made it a category under that okay now some of you your chart of accounts won't be so difficult and will be the easier one i don't know why sometimes we're looking for income here it is oh but look see i screwed this up because i that's not the way i set that now i can easily edit it maybe not easily unit 4. and you want them all to look the same be nitpicky so you have that one don't do that and if you're paying someone insist that they are very particular in your books because if your books look kind of sloppy or like someone didn't really care um an investor you may be trying to take on or a partner or a banker they're gonna think that you don't care about your properties which will be totally not true but they're gonna think because no one took the time to capitalize correctly make sure everything kind of had the same way of you know creating the categories they're going to think that if you're taking shortcuts on this on your financial reporting where else are you so the nicer you make this look the more confidence other people will have in you in investing in you okay so again here we have building one this is the one i just put on right unit four building one okay so that was step one step two you gotta make the item go over the top right to that gear click products and services okay so see we have all these building ones but we don't have unit four so we're gonna click new just choose service and i'm gonna follow the the way the others are unit 4. i don't care about category i don't even honestly know what that is now i did fix that but right now it's not showing i don't know why okay and here you could have um unit building one this would show up every time you use this item building one unit for monthly rent okay you could also pick your class if you're doing that so i already had my class set up and that's a different video but if you're setting up an item and you're using classes make sure you put the class on okay and then let's say that right now you would have to go in and change this item if your rent changes for a unit someone moves out you change the rent or if your attendance rent goes up make sure you go fix your items okay save and close okay so we'll just use this unit for building one as our example okay i've got tom bond as our tenant so let's create an invoice one unit four and it came up on here eighteen hundred dollars and because we fixed that unit on the item to have the class it auto filled the class okay let's say this is really for march 1st and let's say it's a year lease so right here you can say make recurring start date 3 1 22 end after 12 occurrences then okay we're going to say three days because we're gonna see if it generates automatically send emails right so it's gonna recur on the first of every month this is another big thing this is should be due on receipt so that means our customer terms are wrong and i'll show you how to change that okay so save template okay see it didn't work now it's really not till the first but let's go see this is in quickbooks desktop you log in log out and then it'll generate all of them previous date next date okay okay so i went and i logged in and logged out and it still didn't do it so let's just go here again and we'll just pretend we're just gonna say use now so it's gonna i think pull up and make it for three one okay good and then you could send it now let's say if you're doing you're starting them for march first or whatever date do these save and send okay send and close okay it already said it's sent it okay so now we do see that on the first oh wait oh there was nothing previous and this really should say skip next date because we made it because i wanted to show you so look now they're all set up for march april 1st so if you have that problem where it's not like to stop in desktop you could make something for three days prior log it out of the program log back in it will ask you if it's okay to generate the recurring transactions you say yes and then they go out in this case apparently even though i said three days and there's only 28 days in february you would think it would send it out but it did but then these will auto generate the main thing to check inside of these is which this is a demo file oh i think i kept putting my own in here i keep getting emails from this account um that automatically will send these out um for a certain amount of time and three days in advance okay so i went to my the email that i set up for this um and just so you could see this was sent out um on february 26 at 4 22 in the morning for one of these auto ones that i made up right so it went out on time and let's see where we can you can print it here and of course i don't have the link right for them to pay online because this is a file not a real company i couldn't set up for real payments but i'm opening it here and then you might not want to use um quickbooks anyway right i mean to receive payments let's just oh why is it so hard okay so this one i don't know why i can't okay here's better so here it says uh the company right then there you go so this is it went out so that is what they would receive and they might receive it you know it was set three days ahead before the first so i think that's fine this came out i think on the 26th so yesterday at 4am so the 26th 28 three days prior then the first would be the next day so it worked out well so this is really a great way to um you know make sure at least your tenants should know they owe you of course they know but they're gonna say they forgot so this way if you automate sending them invoices they got something it's really you forgot i not only do you did you sign a contract and at least but i also emailed you a reminder okay i know as landlords you get to have as some people have told me it's like their other set of children their tenants um i hope you don't have those tenants i hope this was helpful please put any comments of things you would like me to teach and have a great day