Reconciling a budget by area matches your actual expenses against the budgeted amounts and generates balancing charges for tenants and the owner. Before starting, ensure all expenses have been assigned under the Expense to Schedule tab and the budget has been locked. See Locking a Budget by Area for guidance.
How to Start Reconciling
Navigate to the relevant property and click the Outgoings tab.
Select the relevant budget.
Lock the budget if you haven't already — this prevents further transactions being included mid-reconciliation.
Once locked, the Reconcile option will appear. Click it to begin.
Step 1 — Schedule Reconciliation
Required if you have expense accounts covering multiple schedules. All schedules must be marked complete before proceeding.
Check and mark all schedules as complete. Completed schedules turn blue with a checkmark.
Toggle between expanded and collapsed views as needed.
Click on an actual expenditure figure to view its invoice breakdown.
Click the pencil icon beside an account to edit its actual expenditure — confirm with the tick or cancel with the cross.
Click an allocation percentage to examine area allocations.
Step 2 — Allocate Income to Area
Required if tenants have occupied more than one area.
Use the Auto Populate feature to pre-fill allocations, then adjust as needed.
Add tenant areas and allocate invoiced income or credit notes accordingly.
Mark each tenant as Complete when their income is fully allocated.
Step 3 — Reconcile Areas
Verify and complete all area checks — mark each area as complete when done.
Click on area expenditure figures to examine the breakdown.
Review adjusted expenditure per tenancy, calculated based on occupancy periods.
Inspect the invoiced amount per tenancy and edit if necessary.
Mark each tenancy as complete — it will turn green with a checkmark.
Step 4 — Client/Owner Contribution
Review total budget expenditure and its allocation across schedules.
Click non-recoverable amounts and shortfalls to view details.
Adjust the total owner contribution amount if needed, then complete the step.
Step 5 — Summary
Review the reconciliation overview and total balance charges for upcoming tenant charges. Beyond this point you cannot return to previous steps.
Step 6 — Generate Balancing Charges
Set the default account code and tax type for all invoices and credit notes.
Choose the PDF template for generating documents.
Select which invoices or credit notes to generate and confirm to start the process.
Edit individual document details if needed.
Finalise the budget once all documents are generated — after finalisation, no new documents can be created.
Budget terminology varies by region: Asia-Pacific customers refer to it as Budgeted Outgoings, European customers as Service Charge, and North American customers as Operating Expenses. For more information on regional terminology, see our Glossary of Regional Terminology.