Budget Details 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 process of generating and comprehending the Outgoings Budget/Service Charge Details report. This essential report provides a clear breakdown of budgeted cost distributions across different accounts and leases/tenancies, equipping you with valuable insights needed for effective budget management. Follow along as we explain how to apply filters to obtain a report tailored to your specific needs.

 

Generating the Outgoings Budget/Service Charge Details Report

Firstly, let's navigate to the Budget Details Report:

  1. Select the Reports menu.
  2. Under the General tab, navigate to the Budgets by Tenancy section. 
  3. From the available options, choose Budget Details Report.

 

Configuring Report Filters

  • Report For: Choose whether to include transactions for a single company or compile aggregated data from all companies in your report.
  • Property: Isolate financials for a single property, or aggregate reporting across all managed properties.
  • Budget Status: Filter allocations by the budget's current status, ranging from Draft to Approved, through to Reconciled, or you can select to feature all statuses.
  • For the Budget: Specify if you want to analyze a single budget related to a chosen property or if you prefer to include all budgets relevant to the property. Note that when the Budget Status is active, this filter is disabled.
  • Type of Property: Narrow down the report to specific property types, such as commercial, unless a particular property is already selected.
  • Show Budget Notes: Opt to incorporate any notes pertaining to the budget into your report for added context.

 

Understanding Report Details

The report meticulously notes each account included in the budget, mapping out the proportion of charges allocated to every lease/tenancy. Here's what to look out for:

  • Caps and Collars: If any tenancies have maximum or minimum charge limits, these will be displayed, including the effects they have on allocations.
  • Adjusted Allocation: This column shows the final adjusted charge for each tenancy or lease after accommodating any charge limitations.

Screenshot of Outgoings Budget Details Report - Re-Leased.jpg

 

Tips for Report Usage

Maximize the report's utility by:

  • Diligently checking the caps and collars for each tenancy to understand how they influence the overall budget.
  • Using the Show Budget Notes filter to maintain transparency and context, especially when presenting the report to stakeholders.
  • Consistently keeping your budget statuses up to date to ensure the applicability of your report's data.

By applying these tips and understanding the filtration process, you can extract and analyze the necessary information from the Outgoings Budget/Service Charge Details report, ensuring effective management and allocation of budgeted costs within your properties.

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