Re-Leased will automatically generate rent and outgoings/service charges invoices based on the tenancy term and the template set up for rent or outgoings.
A partial rent or outgoings/service charges invoice will be generated at the start of a term if:
- The term start date doesn't align with the frequency set up for the rent or outgoings template, and
- The first full day of the billing cycle or the first invoice date is prior to the term start date
The formula used to calculate partial invoice amount:
[Annual amount] divided by [365] multiplied by [days included in the partial invoice]
Example:
- Term start date: 1 August
- Frequency: Monthly on day 20
- First Invoice date: 20 July
Result:
- The first invoice generated covers the partial period of 1 August - 19 August is generated
- The next invoice generated covers the full period of 20 August - 19 September