When approving a budget there are multiple options available to customise how the budget allocations are charged to the tenants.
1. Allocation Type
There are two options available for the allocation type:
- Single Line Item Allocation: Combines all allocations into one line so the user will be charged for the budget as a whole.
- Multiple Line Item Allocation: Creates a separate line item for each allocation, which allows you to use different settings for each allocation.
Note that any tenancies with a cap or collar applied will only be able to use a single line item allocation, regardless of which option is selected.
2. Default Description
The description will apply to all line items for all tenants. There are merge fields for the Property Name, From Date and To Date available for use in the description so the data entered on the final invoice is specific to the tenant.
3. Include Tenancies Without an Allocation in This Budget
You can choose to show or hide any tenancies that haven't been allocated any charges in this budget, by turning this switch on or off.
4. Update all
As with all invoices, you must select the account, tax type and ledger that you wish to assign the payment to once it is received. The Ledger must match the ledger on the selected invoice template. These settings can be specified for each line item, or can be applied across all tenancies using the Update All settings at the top of the screen.
5. Tenancy Details
If a tenancy has a cap or collar applied, it will appear here for your information, along with the tenancies budgeted allocation.
6. Rent/Outgoings Template
Select which rent or outgoings template you wish to add the allocation charges to. All current and future invoice templates for the tenancy will be available for selection in this list.
The full budgeted allocation will be divided by the frequency of the selected invoice template to get the amount that will be applied to each invoice. In the example shown above, the $1000 allocation is divided by the monthly frequency of the selected rent template. The tenant will be charged $83.33 each month. You also have the option of editing this amount if you wish. If a cap or collar is applied and the edited amount is less than the collar or greater than the cap, a warning message is displayed however you are still able to proceed if you wish.
8. Start Date
This field will default to the date of the next scheduled occurrence of the selected template. You can edit this date if you wish, which will create a new version of the template.
9. Add Type
You have the option to add the line item to any existing outgoings line items on the selected invoice template, or you can replace the existing lines with this new one.
You can save the selections and return later to continue the approval process, or click Save and Approve button to apply the changes to the template.
Clicking Skip and Approve will approve the budget but will not add the allocations to any invoice templates.