Budget by Area
If a property has been setup with a Budget by Area, the system will automatically pull the tenancy into the budget, once an area has been attached to the tenancy.
To attach an area to a Tenancy, click Occupied Areas, select the area to attach and click Add Area to Tenancy.
Please note, it will not automatically update the tenant's Outgoings to be collected. There are two options to do this:
- Create a new Outgoing Template or line item on the existing Rent Template within the Tenancy, manually calculating the amount to recover for the remaining portion of the budget; OR
- Modify the budget, then click Approve. Click Edit only for the tenant impacted.
Select the relevant information then click Save. Please note, the system will take the amount and divide it by the payment frequency for the budget year. This will require a manual calculation and adjustment to collect the proper amount for the tenancy's portion of the budget.
Confirm then click Save All and Approve.
Budget by Tenancy
To add or remove a tenancy, the budget needs to be modified. The Wash Up function only applies at the end of a budget, in the case of a tenant vacating part way through a period a manual analysis of the actual expenses is required. Any shortfall or excess in invoiced amounts needs to be charged or credited by the user.
The same applies at the end of the budget period, if a tenant has only occupied for part of a year, the wash-up invoices will require alteration.
1. Access the budget from the property, or by using the link on the tenancy summary
2. Select the current budget from the list
3. Click Modify Budget.
The allocations are edited in two different ways, by clicking into each Account. You will need to change the Vacated tenant's share to 0%. If the new tenant has been loaded they will appear with the outgoings % from their tenancy details.
clicking Edit Allocations which will edit all individual accounts. You will need to change the Vacated tenant's share to 0% if they have already been Archived they will not be visible after Edit Allocations has been selected. If the new tenant has been loaded they will appear with the outgoings % from their tenancy details.
Once any adjustments have been made, click Save.
Approve the Budget
For a change of tenants, it is recommended to do this using Skip and Approve. Take note of the new tenants' share, and add it to the rent template manually. If Save and Approve are selected instead each tenancy will be updated with a new rent template.
This message is shown where 'Skip and Approve' is selected > Click Confirm