Invoicing in Street
Invoicing in Street is managed at both company level and branch level:
Company level – Set up invoice sequences and overdue rules
Branch level – Configure invoice details and assign an invoice sequence
This article explains how to set up the company level invoice settings. For more information on branch level invoice settings see this help article.
Note - If you are currently in the process of migrating to Street, you can skip the Invoice Sequence stage for now and use the default one when setting up your invoice settings. Once you have fully migrated and know the starting number for your invoices you can update the invoice sequence.
Invoice Settings at Company Level
To get started, head to Settings (on the left side panel, at the bottom) > Company Settings > Invoice Sequencing.
Note - You will need to be a Company Admin to access the company invoice settings.
Settings
Automatically generate and send completion invoice
From the settings tab, you have the option to automate the generation and distribution of completion, at exchange or completion.
When enabled, as soon as a sale is marked as 'exchanged' or 'completed', a completion invoice can be automatically generated and emailed to both the vendor and the vendor's solicitor.
Additionally you have the option to adjust the invoice due date by inputting a specific number of days post-exchange, effectively setting the payment due date. For example, if a sale is marked as 'exchanged' on February 12th and the due date in your settings is set as 30 days, the invoice due date would then be March 14th.
Note - If a completion invoice has already been generated prior to exchange, this feature will send a copy of that invoice and will not generate a new one or edit the due date.
If you would prefer to manually generate and send completion invoices, you can keep this feature toggled off.
Overdue Invoice Handling
You can also manage your invoice overdue handling, by entering the number of days until an invoice is marked as overdue past its due date. This will affect your Invoices table, where the status will change from unpaid to overdue based on this setting.
For example, if you have an invoice with a due date of 11th February and your days until overdue setting set at 5 days, the invoice will show as unpaid until the 16th February, and on the 17th will update to overdue.
Invoice Sequences
Invoice sequences control how invoice numbers are generated. You can create multiple sequences for different purposes (e.g., Sales vs Lettings, Upfront Fees vs Completion Invoices, or per branch) and view/edit your list of existing sequences.
To create a new invoice sequence click the create button.
From here you'll need to define:
Title – The internal name used when selecting the sequence (e.g., Sales Invoice).
Prefix (Optional) – The information that appears before the invoice number (e.g., SAL or LET). It's worth noting that the prefix is optional however it is recommended to include. If used, each sequence's prefix must be unique.
Starting Number – The first invoice number Street will generate. Typically this should follow on from your previous system, ie if the sequence on your old system got to 85, you would start at 86 in Street.
Note - There is no single correct format for invoice sequences, it depends on how your business operates.
Editing / Deleting an invoice sequence
To edit an invoice sequence, click the pencil icon to open the details page and make the changes.
It is also not possible to have two identical invoices in Street. For example, if you have invoice numbers from SAL1 through to SAL10 in Street and you edit the invoice sequence starting number back to 1, the next invoice will still generate as SAL11 (as the system can see 1 through 10 already exist).
Note - Editing an invoice sequence will not affect any existing invoices, only new invoices.
To delete an invoice sequence, click the bin icon. This will not delete any existing invoices and will simply delete the sequence from the system.
Note - It is not possible to delete an invoice sequence if it is currently in use on a branch invoice (see Invoice Settings for more information).
System Invoice Sequences
The system invoice sequences tab is only applicable if you manage your client accounting in Street. From here you can set your credit note sequence when using the Credit Charge feature, by clicking the pencil icon, allowing you to generate a credit note invoice with the correct prefix and number.
Note - It is not possible to create a new credit note invoice sequence, you can only edit the existing one.
Once you have set up all of your invoice sequencing, you can then set up your branch invoice settings. Please see this help article for steps on how to do this.
Street is constantly being updated. This can mean that some of these articles become slightly out of date. If you spot something that looks a little bit different to your Street account, please let us know on the live chat so we can get it updated!