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Full accounting with GST returns

Rent invoices, charges, deposits, pay-link payments, fines passed on, supplier bills for cars hired in and car sales all post into the same books. Scale adds the full accounting screens and reports, from ledgers with drill-down to cash flow, and GSTR-1 and GSTR-3B for Indian Entities.
PLANSScale only
Compare plansHow it works

The problem it solves

  • Rental invoices are made in one system and retyped into the accounting package.
  • Deposits are taken in cash and kept in a notebook instead of a liability account.
  • The accountant cannot see a customer's rent, charges, deposits and payments in one ledger.
  • GST figures are pulled together at month end from three spreadsheets.

How it works

  1. Business posts itself: billing cycles and Bill Now make the rent invoices, with charges on the next invoice. Deposits are payments into your Rental Deposit Account. Pay links land as payments on the customer's account.
  2. Some items reach the books too: tolls and fines passed on, commissions to channels and referrers, and bills of cars hired in. They come as invoices, credit notes and vendor bills.
  3. Users with the accounting Administrator role see the full screens: journal entries, journal items, the chart of accounts and reconciliation.
  4. Open Invoicing > Reporting > Financial Reports, pick a report, a period and the Entities. Click an account line for its ledger, and an item for its entry and document.
  5. For an Indian Entity, open GSTR-1 or GSTR-3B for the month, check it, and download Excel for the GST offline tool. Filing stays with your accountant.

Everything it does

What reaches the books from Rental (every plan)

  • Rent invoices from billing cycles, Bill Now and Bill Up To, with charges billed on the next invoice
  • Deposits taken, used against invoices and refunded, through the Rental Deposit Account
  • Payments from pay links and card holds, through your payment provider
  • Credit notes and the admin fee for tolls and fines, invoices for car sales

Full accounting screens (Scale)

  • Journal entries and items, the chart of accounts, and reconciliation of payments with invoices
  • Given with the accounting Administrator role, with no developer mode

Financial Reports (Scale)

  • Executive Summary, Profit and Loss, Balance Sheet, Cash Flow, Trial Balance
  • General Ledger and Partner Ledger with running balance and drill-down
  • Profit and Loss by Analytic Account; up to 12 earlier periods; Budget and Variance columns
  • Several Entities side by side, or consolidated; PDF and Excel; saved settings per person
  • Day book, cash book, bank book, and receivable and payable ageing (not due, 1-30, 31-60, 61-90, over 90 days)

GST returns (India, Scale)

  • GSTR-1: B2B, B2CL, B2CS, exports and SEZ, credit and debit notes, HSN summary
  • GSTR-3B: 3.1 (a) to (d), input tax credit 4 (A) and net ITC 4 (C)
  • Excel with one sheet per section; the portal's JSON file is not made
  • SAC codes on rental lines come by themselves on every plan

Limits of what is built

  • No filing with the GST portal; your accountant files
  • No bank feeds or automatic matching of bank statement lines
  • Rental invoices carry no depot by themselves: profit by depot comes from Profit per Car, not from the ledger
  • The ledgers show at most 50,000 journal items at a time

Who uses it

AccountantPosts and checks invoices, matches payments and deposits, reads ledgers and GST returns.
Finance managerReads the executive summary, cash flow and budget against actual.
OwnerSees several Entities side by side or consolidated.

Where you use it

  • Web: Invoicing > Reporting > Financial Reports, Accounting Reports, Budgets and Saved Report Settings
  • Customer pages and the customer app: the customer's invoices and payments come from the same books
  • Not in the staff apps

What you control

Settings

  • Each Entity's taxes, financial year and chart of accounts
  • The rental invoice product and the Rental Deposit Account, under Rental > Configuration > Settings
  • Who has the accounting roles; the Administrator role sees the full screens

Notifications

  • Rental Payment Link and Rental Payment Received: to the customer, from Growth; invoices are sent the usual way for invoices

Questions

Does it file our GST returns?

No. It works out GSTR-1 and GSTR-3B from your books and gives you Excel for the GST offline tool. Your accountant checks the figures and files.

Do we need Scale to invoice customers?

No. Rent invoices, charges, deposits and payments work on every plan. Scale adds the full accounting screens, the financial reports and the GST returns.

Where do deposits go in the books?

Into the Rental Deposit Account you set, as a liability. Using a deposit against an invoice and refunding it post their own entries.

Can we see profit by depot?

Use Profit per Car with the Depot filter. Rental invoices do not carry the depot into the ledger by themselves.

Related features

BILLING AND PAYMENTSBilling in advance or in arrears, with Bill NowBill short hires at once with Bill Now, and long hires on a weekly, monthly, quarterly, yearly or end-of-hire cycle. Bill in advance or in arrears, grouped as you like. Rent stops at the call-off or return, and time billed ahead and not used comes back as a credit.BILLING AND PAYMENTSDeposits taken, topped up, used and refundedEvery confirmed hire that asks for a deposit gets its own deposit record, held on a liability account. You take it, top it up, use it for what the customer owes and refund the rest. The order cannot be closed while money is still held.BILLING AND PAYMENTSPay links, card holds, saved cards and mandatesAsk for money with a pay link on your own payment provider. Hold a deposit on the card, and charge a saved card or mandate each billing cycle. Every request follows its payment to Paid, Held, Failed or Refunded by itself.COUNTRY PACKSIndia SAC codes on rental billsOn an Indian Entity's invoices, rental lines without an HSN/SAC code get one by themselves. They are 997311 for hire without a driver and 996601 for hire with a driver or operator. GST returns and e-invoices then carry the code.FLEET VALUEProfit per car with a keep, sell or buy-more hintFor any period, see each car's rent invoiced, its costs, its profit and how much of the time it was out on hire. A hint says which cars to buy more of and which to think of selling.ACROSS SMARTMY RENTALSeveral entities in one accountRun the rental companies of your group, such as a self-drive company and a chauffeur company, in one SmartMy Rental account. Each Entity keeps its own depots, cars, orders, settings, booking page and books, and staff can work in the Entities they are allowed in.

See your fleet on it.

Tell us how many cars or machines you hire out, from how many depots, and how bookings reach you today. We will set up your fleet with you on SmartMy Rental.
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