Rental properties in Dext Solo let you assign income and expense transactions to individual properties. Dext uses these assignments to calculate each property's figures in reports and MTD submissions.
If a property is jointly owned, you can also set ownership periods and generate beneficial interest statements for co-owners. Go to How do jointly let properties work in Dext Solo? for details.
Before you start
The Rental properties section only appears in Business settings if the Solo client has at least one UK Property income source set up.
Go to How to add an income source in Dext Solo for more details.
Add a rental property
To add a rental property for a Solo client:
Go to Business settings and select Rental properties in the sidebar.
Select Add rental property.
Enter a name for the property.
Enter the ownership percentage for the Solo client.
Set a start date. This is the date you started accounting for the property - not necessarily the purchase date. You can backdate it to capture pre-acquisition costs, such as a surveyor's report.
Select Save.
The property will appear in the Rental properties list, where it can later be edited.
Assign a document to a rental property
You can assign a rental property to a costs or sales document from the Item details page. The Rental property field is only available when the document's Income source field is set to a UK Property income source.
To assign a rental property to a document:
Go to the Costs or Sales workspace and select the document.
On the Item details page, set the Income source field to the client's UK Property income source.
Select the Rental property field and choose a property from the dropdown.
If a document has been matched to a bank transaction, the rental property assignment can be carried across automatically. Go to How to use Bank Match in Dext Solo
Assign a line item to a rental property
When a document has multiple line items, you can assign each to a different rental property. To do this, open the document from Costs or Sales and scroll to the Line items section at the bottom of the Item details page.
Select the button to open the line item editor:
Edit line items - if line items already exist
Create line items - to add them manually
Extract line items - to extract them automatically from the document
For guidance on creating or extracting line items, see:
Once in the editor, select the Rental property column for each line item and choose a property from the dropdown.
If you're using Rental Statement Extraction, go to How to add rental statements in Dext Solo for details on uploading statements.
Assign a bank transaction to a rental property
To assign a rental property to a bank transaction:
Go to the Bank workspace in the sidebar.
Find the transaction.
Choose a property from the dropdown under the Rental property column.
To assign a rental property to bank transactions automatically, you can set up a bank rule. For details, go to How to use bank rules in Dext Solo
Assign a rental property automatically with rules
To assign a rental property automatically in Dext Solo, set it on a rule. Dext then applies the property to matching items, so you don't need to set it on each one. You can set a rental property on supplier rules, customer rules, Smart split rules and bank rules.
To set a rental property on a supplier or customer rule:
Go to Costs > Suppliers or Sales > Customers.
Select the supplier or customer name.
Choose a UK Property income source in the Income source field. The Rental property field only appears for UK Property income sources.
Choose a property in the Rental property field.
Dext saves the change as soon as you choose a property and applies it to the supplier's or customer's items already in the inbox.
You can also change the Income source, Rental property and Category from the Suppliers or Customers list, without opening the rule.
For Smart split rules, set the Income source and Rental property on each line. For more details, go to How to use Smart split in Dext
For bank rules, set them under Update transactions. For more details, go to How to use bank rules in Dext Solo
Assign a rental property in bulk
To assign a rental property to several items at once in Dext Solo, use bulk edit.
Go to the Costs or Sales workspace.
Select the checkboxes next to the items you want to update.
Select Tools, then Bulk edit.
Choose a property in the Rental property field.
Select Bulk edit.
The Rental property field is only available if the client has a UK Property income source. To remove the property from all the selected items, choose Set to blank.
You can also bulk edit the Income source and Rental property for several suppliers or customers. Select the checkboxes next to them in the Suppliers or Customers list, then select Bulk edit. For more details, go to How to use supplier and customer rules in Dext
Delete a rental property
You can delete a rental property in Dext Solo when nothing is assigned to it. That means it isn't used on any:
Documents
Line items
Bank transactions
Splits
To delete a rental property:
Go to Business settings and select Rental properties in the sidebar.
Select Manage next to the property.
Choose Delete.
Select Delete to confirm.
If a rule assigns the property, deleting it also changes the rule. If the property was the rule's only allocation, Dext deactivates the rule. If the rule has other allocations, it stays active and Dext clears the rental property from it.