Budget Summary Report for Outgoings/Service Charge

  • Updated

The term "Outgoings" differs across regions. For our Asia-Pacific customers, it's often referred to "Budgeted Outgoings." European users will see it labelled as "Service Charge," while those in North America might find it listed as either "Budget Outgoings" or "Operating Expenses." The terminology used in the app adjusts based on your location. For additional clarity on regional vocabulary, please see our Glossary of Regional Terminology.

This article is designed to guide you through the Outgoings Budget/Service Charge Summary Report, a comprehensive tool offering a high-level view of your property's budget. By mastering this report, property managers and stakeholders can enhance their financial oversight and maintain clear communication regarding budget allocations for various cost items.

 

Generating the Outgoings Budget/Service Charge Summary Report

Ready to dive in? Just follow these steps:

  1. Navigate to the budget section or select the Reports tab from the main menu.
  2. Apply the filters to tailor the report to your needs.
  3. Display the report on-screen, or export it in your preferred format.

 

Using Report Filters

The ability to customize the Outgoings Budget/Service Charge Summary Report is one of its standout features. Here's a quick guide on the filters available and how to use them effectively:

  • Report For: Choose the company for which you want to generate the report.
  • Property to Include: Choose the property or properties for inclusion in the report.
  • For the Budget: Pick the specific budget you're focusing on.
  • Budgets to Compare: Compare different budgets within a single report if needed.
  • Show Breakdown by Cost Classification: Group expense accounts by cost classifications for better organization.
  • Show Budget Allocations: View how the budget is distributed across expense accounts.
  • Show Budget Notes: Include any comments or additional details attached to budgeted items.

 

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Interpreting the Report's Data

The Outgoings Budget/Service Charge Summary Report contains a wealth of information:

  • Schedule titles that outline the types of expenses.
  • A summary of each expense account and its budgeted cost within each schedule.
  • Insight into how expenses align with cost classifications.
  • Notes that provide context or further clarification on budget entries.

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Clarifying your objectives is vital when utilizing this report. It's tailored to support various goals, such as comparing financial performance against the budget, engaging with stakeholders, or strategizing for the future.

 

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