Creating Invoices in STRATAFOLIO

Last modified: June 26, 2024
Estimated reading time: 4 min

STRATAFOLIO offers simple and streamlined invoicing within our software. First, all invoices created within our software are seamlessly pushed to your QuickBooks accounts within minutes. Also, since STRATAFOLIO integrates all your QuickBooks accounts together in one place, by using bulk invoicing, you can create invoices across all your QuickBooks accounts with just a couple of clicks. Finally, when you create invoices in STRATAFOLIO, rent changes, and escalations are automatically captured, ensuring you never miss an escalation.

How to Invoice in STRATAFOLIO

To begin invoicing through STRATAFOLIO, navigate to the Rent Collection page by clicking Operations, then Rent Collection in the left-hand navigation panel.

Rent Collection Page

The Rent Collection page is packed full of helpful information and search options. You can search by organizations, entities, etc., as well as invoice status (not invoiced, draft, or invoiced) and invoice balance (overdue, current, or credit). The Rent Collection page also shows the balance due for each invoice, and you can click on the invoice number to open a detailed view of the invoice.

Select Invoice(s)

TIP: When you first navigate to the Rent Collection page, starting on the 16th of each month, the dates will always default to the next month. Example: If today’s date is May 3, the default dates on the Rent Collection page will be May 1 to May 31, but if today’s date is May 16, the Rent Collection page will default to June 1 to June 30.

  1. First, verify that the From & To dates are the correct range for the invoicing period.
  2. Next, select the Lease(s) to add the invoices. You can select one lease, several leases, or all of the leases for invoicing. Each one you select will be a separate invoice for that lease based on the information in the Lease section of STRATAFOLIO (income item, rent rate, CAM amounts, etc.).
  3. Then, click the Add Invoices button .

Creating a Single Invoice

If you select one invoice in the steps above, the Add Lease Invoice popup window will open. This window automatically fills most fields based on the information you entered for Rent Rate and Op-Exp when you input the lease information in STRATAFOLIO.

A description of each field is below:

  1. Invoice Date (required) – This is the posting date that will be populated into QuickBooks. It will default to today’s date but can be changed.
  2. Due Date (required) – The due date can be updated if needed.
  3. Accounting Software Customer (required) – The Accounting Software Customer is the customer that was set up in QuickBooks and selected in STRATAFOLIO when you entered the Tenant information.

This section of the invoice includes the information that was already entered for the Lease in STRATAFOLIO.

  1. Income Item (required)- This is the Income Item created in QuickBooks to which this line item will be posted to. The Income Item will be automatically filled based on what you set up for the lease information in STRATAFOLIO.
  2. Classification – If applicable, Classification will be automatically filled based on what you entered in the lease information in STRATAFOLIO. It is linked to the Class that is set up in QuickBooks.
  3. Description – Add a description if desired. For example, “July 2021 Rent.”
  4. Amount (required) – The Amount will be automatically filled based on what you entered in the lease information in STRATAFOLIO. This amount can be adjusted if needed. The amount for Rent and Op-Exp will reflect any escalations entered for that lease period.

TIP: It is important to remember to update the Lease Rate and Op-Exp whenever there is a change to the lease!

  1. Add Line Item Button – If needed, click this to add an additional line for billing. For example, add an additional line for a one-time payment for utility reimbursement.
  1. Invoice Message – Add a message if needed.
  2. Statement Message – Add a message if needed.
  3. Save – Select Save to save the invoice(s), but do not sync them with QuickBooks. This option allows you to create the invoice and return later to make changes. Or,
    Save & Finalize – Select Save & Finalize to save the invoice(s) and sync them with your QuickBooks accounts. When you click the Save & Finalize button, another popup will appear, and you will be prompted to confirm that you want to finalize the invoice.

NOTE: Once you finalize an invoice it will be synced with QuickBooks and any changes to the invoice will need to be made in QuickBooks. Changes made in QuickBooks will sync back and be updated in STRATAFOLIO.

Bulk Invoicing

Bulk Invoicing allows you to create multiple invoices at once. Select more than one lease, then click the Add Invoices button . With bulk invoicing, the Add Invoices popup will open. A description of each field is below.

NOTE: All information entered on this page will be reflected on all selected invoices.

  1. Invoice Date (required) – This is the posting date that will be populated in QuickBooks. It is NOT the due date. The Invoice Date will default to today’s date but can be changed.
  2. Base Rent Description – If desired, add a description. For example, “July 2021 Rent.”
  3. Invoice Message – Add a message, if needed.
  4. Save – Select Save to save the invoice(s), but does not sync them with QuickBooks. This option allows you to create the invoice and return later to make changes. Or,
    Save & Finalize – Select Save & Finalize to save the invoice(s) and sync them with your QuickBooks accounts. When you click the Save & Finalize button, another popup will appear, and you will be prompted to confirm that you want to finalize the invoices.

Finalizing a Draft Invoice

If you selected “Save” (and not Save & Finalize) when creating a single or bulk invoice, it will be labeled Draft and highlighted red in the Invoices column.

  • Draft Invoices can only be edited in STRATAFOLIO until they are finalized.
  • Draft invoices are not synced with QuickBooks until they are finalized in STRATAFOLIO.

Select the invoice from the list, then click the Finalize button to Finalize it and get it ready to be created in your QuickBooks.

Once you click the Finalize button, a popup will appear and you will be prompted to confirm that you want to finalize the invoice.

Your invoice will not be reflected in your QuickBooks account until STRATAFOLIO has synced with QuickBooks. If you are using QuickBooks Online, this will usually happen within minutes.

Other articles that may be of help are How to Turn Off Custom Transactions Numbers in QuickBooks Online, Adding Invoice Payments in STRATAFOLIO, and Tracking Paid & Overdue Invoices in STRATAFOLIO.

Want to learn more?

Would you like to learn more about what STRATAFOLIO can do to help you manage your Commercial Real Estate Properties? Watch our prerecorded 10-minute demo to learn how we can reduce your time and effort by 80%.

Do you want to talk to us directly about how we can help your organization’s specific needs? Schedule a 1:1 demo tailored to your organization’s individual goals and needs.

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