NetLease - Automated Billing
Overview
This article will walk you through setting up automated billing in NetLease.
Step By Step Process - Automated Billing
On a monthly basis, Accounts Payable will generate automated vendor bills that debit the Lease Payable Clearing account and tag the related lease. This system feature can be selected by navigating to NetLease > NetLease Setup > System Setup > System Features and selecting the checkbox next to Automated Billing.
On the lease record, a "Bill" button will be added to allow users to quickly create a vendor bill for the next lease payment that is due.
Bills can also be created in mass for multiple leases by following the instructions below:
- Navigate to NetLease > Process Monthly Transactions > Monthly Bills
- Enter the desired period for bill creation
- Mark all leases that bills should be generated for
- Select Generate Transactions
- Select the applicable bill to see underlying information
- The vendor bill will be created showing the applicable information from the vendor record and lease record
- The automated vendor bill will go through the accounts payable process the same as bills created in the regular accounts payable process
- This bill can be seen by navigating to the lease record and going to Lease Bills & Payments within the Related Records subtab
Accounts Payable Reconciliation Reports
NetLease has two reconciliation reports related to the lease clearing accounts: the ROU Clearing Reconciliation and the Lease Payable Clearing Reconciliation.