When a new tenancy is created and assigned to an area in your property, you need to update the budget to reflect the change. This article covers how to add or remove tenancies in a Budget by Area.
Attaching an Area to a Tenancy
Open the tenancy record and select Occupied Areas.
Click Add Area.
Tick the relevant area and click Save.
Attaching an area to a tenancy does not automatically update the outgoings amounts the tenant owes. Handle this using one of two approaches:
Manually — create or update an Outgoing Template within the tenancy, calculating the tenant's share and entering it in the template.
Via budget amendment — amend and re-approve the budget. During the approval process, the system will update the allocations for the tenancy. See Modifying an Approved Budget.
Completing the Update via Budget Amendment
Open the budget and select the relevant information for the tenancy.
Click Save. Note: the system divides the budgeted amount by the payment frequency for the year — you will need to manually calculate and adjust to arrive at the correct share for the tenancy.
Click Save All and Approve to finalise.
Budget by Area is referred to as Budgeted Outgoings in Asia-Pacific, Service Charge in Europe, and Operating Expenses in North America. For more information on regional terminology, see our Glossary of Regional Terminology.