You can upload rental statements in Dext Solo to extract income and expense line items automatically for Solo clients with a UK Property income source. Extracted lines appear in the Sales workspace, where you can categorise them and include them in reports.
Note: Rental statements are only available for Solo clients with a UK Property income source. If the client doesn't have one set up, the Rental statements option won't appear.
Add a rental statement
To upload a rental statement, open your Solo client's account.
Select Add documents.
Select Rental statements.
Select the Document owner.
Drag and drop the file into the upload area, or select Select files.
Select Done.
Only PDF files are accepted, with 1 document per file. The file size limit is 40MB.
What Dext extracts from rental statements
Rental Statement Extraction is currently in beta. When a rental statement is uploaded, Dext extracts each line from the statement - including rent received, repairs, fees, and other expenses - as individual line items. Each line item includes the description and amount. Income source pre-populates as UK Property. Category and rental property need to be set manually.
Extracted line items appear in the item details page in Sales. Scroll to the Line items section and select Edit line items to review and categorise each line. Once categorised, the line items feed into the UK Property (SA105) tax report and the transaction summary.
Note: Rental Statement Extraction is free during beta. Once the beta ends, usage will count towards your monthly add-ons.
Change a document type to rental statement
If a statement was uploaded as a regular Sales item, you can change its type to Rental statement from the item details page in Sales.
Go to Sales and open the item.
In the Type field, select Rental statement.
When prompted, select Extract as Rental statement.
If you're not ready to extract yet, select Maybe later. You can trigger extraction from the item details page at any time.