You associate recurring cost information with a lease using from the Base Rents panel. After entering this data, you can view aggregated recurring cost expenses in the Lease Base Rent Expenses by Year and Lease Commitments Costs by Year Reports. You can view net income for leases based on the expenses and income you enter for recurring costs in the Lease Net Income by Month or Year reports.
You enter base rents using:
Note: The Base Rents tab is not available from the Portfolio Administration’s Add/Edit Wizard task.
To add base rents and other recurring costs:
The Add Recurring Cost dialog appears.
Cost Category-- By default, the category is Rent - Base Rent. To add different recurring costs, click the Select Value button by the Cost Category field. The Select Value - Cost Category dialog appears. Select a cost category and cost class from the list. Use the Smart Search feature to filter the list if needed.
VAT and Multicurrency: When using the ARCHIBUS Enhanced Global Feature Set, the Cost Category is used with the VAT Country to get the default VAT percentage to use for this cost, unless an override is entered for the cost record or for the lease.
Amount - Income / Amount - Expense-- When the ARCHIBUS Enhanced Global Feature Set is not enabled, for each record, complete either the Amount - Income or Amount - Expense field. These two fields record the amount of the transaction for the time frame indicated in the Period field. For example, if you pay a quarterly utility bill, enter the amount in Amount-Expense and complete Period with "Quarterly."
VAT and Multicurrency: When using the ARCHIBUS Enhanced Global Feature Set, enter the Amount Income - Base (Payment)/Amount Expense - Base (Payment) fields as Base Costs using the Payment Currency. The program will calculate the VAT and Total Costs for you.
Period:- This field defines the interval between payments. Choose MONTH, QUARTER, YEAR, or CUSTOM.
Custom Period (Days)-- If you choose CUSTOM for the Period field, complete this field with the number of days for the custom period. For example, enter 45 for a 45-day period.
Active? --Only recurring costs with Active? set to Yes are included in the Lease Net Income by Month or Year reports. The Cost Administration / Cost Administrator / Cost Wizard for task uses this field to evaluate whether the recurring cost record should be used by the Schedule action to generate Scheduled Costs. The default is YES. If you currently do not wish the recurring costs to be used in calculations, but want to retain it for future use, set this field to NO.
Start Date-- Enter the date that the recurring cost takes effect.
End Date-- Enter the date that the recurring cost ends. If this field is left blank, then the recurring cost is scheduled to continue indefinitely.
Seasonal Start Date / Seasonal End Date-- These fields model seasonal costs that enable you to generate a more accurate monthly cash flow.
If you are modeling a seasonal cost, you should specify a Seasonal Start Date and a Seasonal End Date. For example, for a winter lease cost you can specify a Seasonal Start Date of November 15, 20XX and a Seasonal End Date of March 15, 20XX (where XX is any year you choose—the year has no effect, as the Start Date you enter for the cost determines when the recurring cost begins to take effect).
Yearly Factor-- A yearly increase or decrease to factor into the cost beginning from the Start Date. For instance, you can model a 10% yearly increase in lease costs by entering a yearly factor of 1.10. If you enter a value of .75, the lease cost is defined to decrease 25% per year.
Account Code -- Complete this field if you wish to assign lease costs to accounts. You can select from the accounts that have been defined by your business process owner using the Background Data/Define Accounts task.
Description-- Enter a description for the expense/income.
The system automatically create the following values:
Lease Code: This is the code for the lease you selected.
Recurring Cost Code: After you save the cost record, the system completes this field with a unique identifier for this cost.
Date Trans. Created -- The system completes the value with the system date for the time that your created the record.
If you are working from the Add / Edit Wizard, do one of the following: after working on the Base Rents tab:
See Also
Add/Edit Tasks Overview. for a description of all the Add/Edit tasks.
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