Full accounting with GST returns
Rent bills, deposits, cheques, owner money, vendor bills and the leases you take all land in the books of the same system. Scale adds the full accounting screens and reports, from ledgers to cash flow, and GSTR-1 and GSTR-3B for Indian Entities.
PLANSScale only
The problem it solves
- Rent is billed in one tool and typed again into Tally at month end.
- Deposits held and owners' money are mixed with your own in one bank figure.
- The partner ledger of a tenant does not match the arrears report.
- GST figures for rent are pulled together by hand every month.
How it works
- Set your Entity's chart of accounts, taxes and journals once, and the accounts Lease uses in Lease > Configuration > Settings.
- Rent bills, credit notes and charges are made by the daily billing job and show under Lease > Billing > Rent > Rent Bills. Payments are registered on them as usual.
- Deposits, banked cheques, owner statements and payouts, and the monthly entries of leases you take are booked by themselves. Vendor bills come from finished work orders.
- In Scale, open Invoicing > Reporting > Financial Reports and click any line down to its entry and document.
- For an Indian Entity, open GSTR-1 or GSTR-3B for the month and download Excel for the GST offline tool. Filing stays with your accountant.
Everything it does
What arrives from Lease
- Rent bills and credit notes of every lease, with tax from your Entity's set-up
- Charges billed with the next bill: late fees, repairs the tenant pays, bounced cheque fees, meter recharges, turnover rent
- Tax withheld by tenants: the tax expected on each bill, with the certificate number, date and file
- Deposits received and refunded; post-dated cheques become payments when banked
- Owner statements and payouts from client money (Growth)
- Vendor bills from work orders (Growth); lessor bills and monthly entries of leases you take (Scale)
Full accounting screens (Scale)
- Journal entries and journal items, the chart of accounts and reconciliation of payments with invoices
- Shown to the accounting Administrator role, with no developer mode needed
Financial Reports (Scale)
- Executive Summary; Profit and Loss, Balance Sheet, Cash Flow Statement, Trial Balance
- General Ledger and Partner Ledger with opening, running and closing balances
- Profit and Loss by Analytic Account
- Comparison with earlier periods; Budget and Variance columns
- Several Entities side by side, or consolidated
- Settings saved per person; PDF and Excel of what is on screen
GST returns (India, Scale)
- GSTR-1 and GSTR-3B read from posted invoices, notes and bills by invoice date; each line opens its document
- Excel with each section on its own sheet
Not built
- Filing on the GST portal and its JSON file
- Bank feeds and automatic matching of bank lines
- A sync to Tally
Who uses it
AccountantPosts and checks bills, matches payments and reads ledgers and GST returns.
Finance head or ownerReads profit and loss, cash flow and the executive summary, across Entities.
Lease ManagerRuns billing, deposits and owner statements that feed the books.
Where you use it
- Web: Lease > Billing (Rent Bills, Charges, Billing Cycles); Invoicing
- Web: Invoicing > Reporting > Financial Reports (Scale)
- Not in the apps; tenants see their bills and payments on their web page and in the app
What you control
Settings
- Per Entity: chart of accounts, taxes, journals
- Lease > Configuration > Settings: the journals and accounts Lease asks for, such as those of leases you take
- Who has the accounting roles; the Administrator role sees the full screens
Questions
Do we need Scale to bill rent?
No. Rent bills, payments and deposits are in every plan. Scale adds the full accounting screens, the financial reports and the GST returns.Does it file our GST returns?
No. It works out GSTR-1 and GSTR-3B from your books and gives you Excel. Your accountant files on the portal.Can we keep owners' money apart from ours?
Yes, on Growth. Client money has its own accounts and owner ledgers, and the client money check compares the bank with what is owed and held.We use Tally. Can we keep it?
SmartMy Lease keeps its own books and does not send entries to Tally today.Related features
LEASES AND RENTRent schedule in advance or arrears, with rent-free monthsA confirmed lease bills itself from a schedule: monthly, quarterly, half-yearly or yearly, in advance or in arrears. Part periods go by the calendar, and stepped rents, rent-free periods and holdover worked in.LEASES AND RENTTax withheld by tenants, with certificatesFor tenants who keep back tax from the rent, such as TDS by companies in India, set the share on the lease. Each bill shows the tax expected and keeps the certificate number, date and file. Each lease also has its own payment reference.OWNERS AND CLIENT MONEYOwner ledgers, statements and payoutsRent you collect for owners goes to an owner payable account, not your income. Each owner's ledger fills by itself with rent, fees and repairs, and each period you send a statement and pay out from the client bank.OCCUPIER LEASESLeases you take, under IFRS 16, Ind AS 116 and ASC 842For the offices, shops, vehicles and equipment your Entity rents from others. The lease liability, the right-of-use asset and a monthly schedule of interest and depreciation are worked out and posted to your books. Changes, early ends and the maturity analysis are included.ACROSS SMARTMY LEASESeveral entities in one accountRun the companies of your group, such as one that owns the buildings and one that manages them, in one SmartMy Lease account. Each Entity keeps its own properties, leases, settings and books, and a person can work in several.ASSETSFixed assets: register and depreciationYour buildings, lifts, chillers, generators and furniture sit in one register with their cost, depreciation and book value. Each asset can belong to a property and a unit, and the property shows what its assets are worth in the books.
See your buildings on it.
Tell us how many properties and units you have, whether you let your own or manage for owners, and how rent is paid today. We will set up your portfolio with you on SmartMy Lease.