Note: This topic describes tasks from the Approve tab when you have enabled the ARCHIBUS Enhanced Global Feature Set. If you have not enabled these features, see Approving and Adding Scheduled Costs.
The Approve Costs tab show all Scheduled Costs for the lease, building, property, or account you have selected. If you have set a restriction to view only certain cost categories and types, the Approve tab uses this restriction.
From the Approve Costs tab, you can
For example, to record a new income or expense item that is a one-time expense, you can add it as a Scheduled Cost from the Approve tab. When you actually receive the payment or pay the bill, you can verify the amount, adjust it if necessary, and approve it. Approving the cost confirms the cost and moves it from the Scheduled Costs table to the Costs table.
From the Approve Costs tab you can manually add a Scheduled Cost record, rather than adding a Recurring Cost record from which you generate Scheduled Costs.
The following are examples of when you might manually add Scheduled Cost records:
To add new scheduled costs:
The Add New (Lease/Building/Property/Account) Scheduled Cost dialog appears.
Cost Category -- Select the Cost Category from the list. The Cost Category specifies the classification of the cost, such as snow removal, bathroom supplies, or rent. The cost category is important for summarizing costs, and rolling up and prorating costs. For information on completing this field, see About Cost Categories.
Date Due -- Enter the date that this cost is due.
Description -- Describe the cost.
Cost Status -- From the drop-down menu, select Budgeted if the cost represents an estimate or is being used for "what if" scenarios. Select Planned if the cost represents an exact amount that will occur.
Amount - Expense/Amount - Income -- Complete one of these fields to document whether the cost is an income or expense item. If you are using Scheduled Costs for planning and budgeting purposes, you can enter an estimate of the cost. Otherwise, enter the exact amount.
Date Paid -- Enter the date that this cost was paid.
The system automatically creates the following values:
Date Trans. Created -- The system completes the value with the system date at the time that you create the record.
Scheduled Cost Code: The unique identifier for this Scheduled Cost is system-generated after you save the record.
If you enter a VAT Percent Override, the system calculates the VAT as follows:
Exchange Rate Override: Enter a value for this transaction that overrides the exchange rate that is closes to this cost record's Date Due.
Based on your entry (Amount Income- Base or Amount Expense - Base) and the VAT Percent value, the system calculates and displays the following:
Amount Income - VAT (Payment)
Amount Income - Total (Payment)
Amount Expense - VAT (Payment)
Amount Expense- Total (Payment)
The system calculates the Budget Currency fields based on your entries. The system stores the Budget Currency fields to use for reports based on the Budget Exchange Rate.
If you entered an Exchange Rate Override, the system uses this conversion rate to calculate the Budget Currency fields.
Otherwise, the system uses the Budget Exchange Rate for the date that is closest to and prior to the cost record's Date Due to convert the following fields from the Payment Currency to the Budget Currency as follows:
Amount Income = Amount Income - Total (Payment) x Budget Exchange Rate
Amount Expense = Amount Expense - Total (Payment) x Budget Exchange Rate
Amount Income - Base (Budget) = Amount Income - Base (Payment) x Budget Exchange Rate
Amount Expense - Base (Budget) = Amount Expense - Base (Payment) x Budget Exchange Rate
Amount Income - VAT (Budget) = Amount Income - VAT (Payment) x Budget Exchange Rate
Amount Expense - VAT(Budget) = Amount Expense - VAT(Payment) x Budget Exchange Rate
To approve Scheduled Costs for the selected building, property, lease, or account:
The costs are moved to the Review Costs tab.
When you approve a cost, the system does the following:
You can change any information for a Scheduled Cost.
To edit a scheduled cost:
The Edit Scheduled Cost dialog appears.
To delete scheduled costs:
You are asked to confirm the deletion.
The Scheduled Costs are deleted.
After approving costs, you can review the approved Actual Costs from the Review Costs tab.
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