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As a rule, a contract is signed between the parties: owner and tenant; it states the amount of the periodical rent (month or other) plus additionnal expenses (cleaning, locales taxes etc)due by the tenant, usually at the beginning of the period. Once the rent is paid the owner issues a receipt for the various items plus VAT. On top of the rental amount, VAT may be applicable. This is a recurring transaction.
The tenant never issues an invoice to the owner.
The accounting entries are best recorded in the "Miscellaneous journal"
Debit the rental account (P/L)
Debit the other expenses (P/L)
Debit the deductible VAT account (B/S)
Credit the bank account (B/S)
The date for such accounting record is the date of the payment. Each month, you may duplicate the previous entry, then change the date, and modify the amounts if necessary.
The OpenErp menu to use is Accounting/accountig entries. I never heard of "virtual invoices". An invoice is a legal document. The supporting contract for your payments, plus the receipt from the landlord are enough to document the transactions.
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|Asked: 2/27/13, 6:19 PM|
|Seen: 4233 times|
|Last updated: 3/16/15, 8:10 AM|