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.
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. To check or add one, go to Business settings > Lists > Income sources.
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 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. See 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, see 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 and select the Rental property column.
Choose a property from the dropdown.
To assign a rental property to bank transactions automatically, you can set up a bank rule. See How to use bank rules in Dext Solo.