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Maintaining Outgoings Profiles

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Mandatory Prerequisites

Prior to creating an Outgoings Profile, refer to the following Topics:

Screenshot and Field Descriptions

 

Outgoings: this is the primary identifier for the Outgoings Profile.

 

Name: this is the friendly name given to the Outgoings Profile.

 

Effective: this is the starting date the Profile is effective from. The options are:

 

The Effective field is only available when the Profile is accessed from the Lease Component, refer to Adjusting the Outgoings Profile for a Lease Component in order to do so.

A Lease can have different Outgoings rules over its lifetime. By using the Effective field, multiple Profiles can be entered for the Lease.

Lease: this is the Lease record the Profile is attached to. This field is only available when the Profile is accessed from the Lease Component, refer to Adjusting the Outgoings Profile for a Lease Component in order to do so.

 

Component: this is the Lease Component the Profile is attached to. This field is only available when the Profile is accessed from the Lease Component, refer to Adjusting the Outgoings Profile for a Lease Component in order to do so.

 

Aggregation: this is the option to select whether the negative expense movements are to be included in the total outgoings calculation. The options are:

 

Agreed: this is the date when the Outgoings settings were agreed on. This field is only available when the Profile is accessed from the Lease Component, refer to Adjusting the Outgoings Profile for a Lease Component in order to do so.

 

Reconciled Up To (All Lines): this is the date the Outgoings have been reconciled up to. This field is only available when the Profile is accessed from the Lease Component, refer to Adjusting the Outgoings Profile for a Lease Component in order to do so.

The Reconciled Up To (All Lines) field will be automatically updated when the Outgoings Reconciliation process is run. By default, this is set on all lines in the Expenses Tab. Each individual Expenses Line can have its own Reconciled Up To date if required.

Projection Assumptions: this is the assumption percent value for how much expenses are going to increase / decrease in the future and are used when running the Outgoings Projections function. The options are:

 

Reconciliation Required: this check box determines whether an outgoings reconciliation needs to be done for the Lease at the end of the outgoings year.

The Reconciliation Required check box should not be ticked if the Lease has outgoings incorporated into the Rent charge (Gross type lease), or if the Outgoings are on-charged to the tenant as they come in (Net type lease).

When the Reconciliation Required check box is ticked, then values for raising the recovery / refund transaction are required as follows:

Cash Book: this is the Bank account if the transactions raised are going to be a Cash Sales / Cash Credit type transaction. Leave blank if a Invoice / Credit Note type transaction is to be raised.

 

COA: this is the Chart of Account for the transactions to be raised.

 

Details: this is the description for the transactions. It will default to the value set up for the COA.

 

GST: this is the GST Type for the transactions. It will default to the type set up for the COA.

Inclusive: this check box determines if the Amount includes GST. If this field is ticked, when the GST is calculated, the Amount will be reduced by the GST and the tick will disappear to reflect that the line no longer includes GST. If this check box is not ticked, the Amount will not be reduced and the GST will be calculated normally.

GST From: this is a historical field and current use is now irrelevant. It was used during the implementation of GST to allow contractual date based transactions to escape full GST. There may be old transactions on the system to which the rule applied.

Cost Code: this is the cost centre that the amounts relate to. This field can be set as optional, mandatory or not required on the COA set up screen.

Fee: this field can be used to add any extra fees associated with the reconciliation to the transaction that is raised.

Expenses table: this table displays the list of expenses and the rules applied to them.

Screenshot and Field Descriptions: Expenses Tab

 

Expenses: this drop down list refers to the Chart of Accounts that the outgoings settings are going to be applied for. The options are:

Expense COA: this is the expense Chart of Account to apply the settings to.

 

Include / Exclude: this is the option to include / exclude the Chart of Account into the Outgoings calculations and the set up related to it. The options are:

  • Leave Blank.
  • Include with Other Conditions: this option refers to the Chart of Account being included in calculations but different rules can be set up for it.
  • Include Other COA Outgoing Type: if a Statutory Chart of Account is selected, then this option refers to including it in the Non-Statutory calculations instead and vice versa.
  • Exclude from Capping: this option refers to the Chart of Account to be included in the Outgoings calculation but any Capping rules will not apply.
  • Exclude from Calculation: this option refers to the Chart of Account to be excluded from the Outgoings calculation.

Reconciled Up To (Expenses Line): this is the date the Outgoings have been reconciled up to for the Expenses line on the Profile. This field is only available when the Profile is accessed from the Lease Component, refer to Adjusting the Outgoings Profile for a Lease Component in order to do so.

 

Cap Expenses By: this option is used if outgoings expense amounts need to be capped for the calculations.

 

Fixed

 

 

CPI

Screenshot and Field Descriptions: Outgoings Calculations Tab

 

If no Capping is set on the Expenses Tab, then the values on the left-hand side of the Outgoings Calculations Tab can be left as the default values. If Capping is set on the Expenses Tab, then the fields should be used to specify the capping method. The available values are based around if the capping is based on the Property expenses for the previous year or the Lease Component (Tenant) proportion for the previous year.

If Capping values have been set on the Expenses tab, select the appropriate calculation method on the Calculation Method, Increase Level, Amount to Cap On and Apply Capping fields. The option selected in the Calculation Method determines what values are available in the other fields.

Calculation Method (Lease Component Proportion Level): this calculation method caps the outgoings amount for the Tenant based on the amounts for the Tenant in the previous year.

 

If Lease Component Proportion Level option is selected in the Calculation Method field, the following options will be available:

Increase Level: Only the Lease Component Proportion will be available for this field.

 

Amount To Cap On: The options are:

 

Apply Capping: The options are:

Calculation Method (Parent Property Level): this calculation method caps the outgoings amount for the Tenant based on the amounts for the Parent Property in the previous year.

 

If the Parent Property Level option is selected in the Calculation Method field, the following options will be available:

Increase Level: The options are:

 

Amount To Cap On: The options are:

 

Apply Capping: The options are:

Cumulative CPI From: these fields will become available if CPI is selected in the Cap Expenses By and Cumulative is selected in Amount to Cap On fields respectively. By default, the percentage will be the difference between the CPI figures for the last year. If it needs to be based on the difference in CPI for many years, the user can then select which CPI Period to start from to calculate the cumulative percentage.

 

Base Year: if Outgoings is based on a percentage of increase of Expenses over a Base Year then select the Year. (Note, the Expense amounts for the Base Year will need to be entered in the Outgoings Expenses screen).

 

Type: this selection determines if the Base Year is from Actual expense amounts or Budget expense amounts. The options are:

 

 

Align to Period: select the Accounting period the outgoings year is aligned to.

 

or As At: this option is used if the user wants to work out the Base Year / Align to Period based on a date. When the date is entered, the Base Year / Align to fields will show the Year / Period for the date.

 

First Year: this is the first year to start capping from, if the year is different from the Base Year.

Screenshot and Field Descriptions: Area Tab

 

Percent: this is the option to select on which basis the tenant contribution should be calculated on. The options are:

If the of Parent Area option is selected, the following fields will be available for input:

Parent: this is the Parent Property level the total outgoings expenses will be recorded against.

 

Area Type: this is the area types for the Parent Property. The Lease Component Area Type is only available when attaching the Profile to the Lease.

 

Component Area Type: this is the area type for the Component Property under the selected Parent Property level. This field is only available when the Profile is accessed from the Lease Component, refer to Adjusting the Outgoings Profile for a Lease Component in order to do so.

Screenshot and Field Descriptions: Budgeted Outgoings Tab

 

Budgeted COA: this is the Chart of Account that is being used for recording any payments made during the outgoings year based on the budget. This Chart of Account is used for the Lease Charge line that is created by the Budgeted Outgoings function for raising the budgeted tenant contribution amount and by the Outgoings Reconciliation process to work out if an adjustment is required.

 

Budgeted Up To: this is the date the Budgeted Outgoings process has been run up to for this Lease. It will be automatically updated when the Budgeted Outgoings process is run. This field is only available when the Profile is accessed from the Lease Component , refer to Adjusting the Outgoings Profile for a Lease Component in order to do so.

Screenshot and Field Descriptions: Overrides Tab

The Overrides tab is useful if user is taking on the system and previous years capping amounts back to base year are not available.

 

Year: this is the year to start from.

 

Lease Component Last Paid: this amount will be used if on the Expenses Tab:

 

Lease Component Last Actuals: this amount will be used if the Calculation Method is Lease Component Proportion Level and Amount To Cap On is Last Actuals.

 

Lease Component First Year Actuals: this amount will be used if the Calculation Method is Lease Component Proportion Level and Amount To Cap On is Cumulative and Base Year has a value.

 

Lease Component Last Highest Paid: this amount will be used if the Calculation Method is Lease Component Proportion Level and Amount To Cap On is Cumulative and Base Year does not have a value.

 

Parent Property Last Paid: this amount will be used if the Calculation Method is Parent Property Level and Amount To Cap On is Last Paid.

 

Parent Property Last Actuals: this amount is for reference only and is not used for previous year capping amounts.

 

Parent Property First Year Actuals: this amount is for reference only and is not used for previous year capping amounts.

How Do I : Add a new Outgoings Profile

  1. At the Outgoings field, enter a new Outgoings ID.
  2. At the Name field, enter the name of the Outgoings Profile.
  3. At the Effective drop down list, select the required option and select the effective date of the Profile.
  4. In the Aggregation drop down list, select whether the negative expense movements are to be included / excluded in the total outgoings calculation.
  5. At the Agreed field, select the date the Outgoings setting was agreed on.
  6. At the Reconciled Up To (All Lines) field, select the date the Outgoings have been reconciled up to.
  7. The Project Assumptions is used to enter the assumption percentage for expenses to be increased / decreased in future:
    1. At the Statutory % field, enter the percentage to apply for Chart of Accounts set as Statutory.
    2. At the Non-Statutory % field, enter the percentage to apply for Chart of Accounts set as Non-Statutory.
  8. Tick the Reconciliation Required check box to determine whether an outgoings reconciliation needs to be done for the Lease at the end of the outgoings year.
  9. At the Cash Book field, if required, select the Cash Book for the Profile.
  10. At the COA field, select the required COA for the Profile.
  11. The Details field gets populated with the COA details based on the COA that is selected for the Profile.
  12. At he GST field, select the required GST type for the Profile.
  13. Tick the Inclusive check box, if the Amount field will include GST. Otherwise the GST component will be calculated and added separately.
  14. The GST From date will default to the value set up for GST.
  15. At the Cost Code field, if required, select the Cost Code for the Profile.
  16. At the Fee field, if required, enter any additional fees that should be charged on top of the transaction raised.
  17. On the Expenses tab:
    1. In the Expenses drop down list, select the All, Statutory or Non-Statutory options as required, for the COAs that the outgoings settings are going to be applied for.
    2. If the Select option is selected, then the following options are available:
      1. At the Expense COA field, enter the Chart of Account to apply the settings to.
      2. At the Exclude / Include drop down list, select the required option to include / exclude the Chart of Account in the Outgoings calculations.
    3. In the Reconciled Up To (Expenses Lines) field, select the date the expenses line is reconciled up to.
    4. In the Cap Expenses By drop down list, select the required option if the outgoings expense amounts need to be capped for the calculations.
      1. If the Fixed option is selected:
        • If based on a percentage, select the Percent option and enter in the percentage amount.
        • If based on a set increase or decrease, select the Increase / Decrease option and enter in the amount.
        • If based on a set amount, select the Amount option and enter in the new amount.
      2. If the CPI option is selected:
        • At the CPI Period drop down list, select the required option type for the new calculation, select the period and enter the number of periods in the (Plus Years) field.
        • Select to base the calculation on the CPI Index figure or rounded Percent figure in the Based On drop down list.
        • If applicable, enter a minimum percent to apply to the calculation in the Minimum % field.
        • If applicable, enter a maximum percent to apply to the calculation in the Maximum % field.
        • At the Apply % of field, change the percent to apply if required.
        • At the Extra % field, enter a percent to add to the calculated percent if required. 
  18. On the Outgoings Calculation tab:
    1. At the Calculation Method drop down list, select the required option type, if the calculation method should cap the outgoings amount for the Tenant based on the amounts in the previous year or based on the amounts for the Parent Property in the previous year.
      1. If the Lease Component Proportion Level option is selected on the Calculation Method field, the following fields will be available:
        • At the Increase Level field, only the Lease Component Proportion will be available.
        • For the Amount to Cap On field, the following options will be available:
          • The Last Paid option is selected, if the calculation is capped on what the Tenant paid last year.
          • The Last Actuals option is selected, if the calculation is capped on what the actual Tenant proportion was last year.
          • The Cumulative option is selected, if the calculation is capped on a past amount i.e. base year amount, plus a cumulative percent.
          • The Last Paid (less Base) option is selected, if the calculation is capped on what the Tenant paid last year less the Base Year amount.
        • For the Apply Capping field, the following options will be available:
          • The COA Level option is selected, to apply capping to each individual COA.
          • The COA Outgoings Type Level option is selected, to apply capping to total of all Statutory / Non Statutory COAs.
          • The All option is selected, to apply capping to the total of all COAs.
      2. If the Parent Property Level option is selected on the Calculation Method field, the following fields will be available:
        •  At the Increase Level drop down list, the options are:
          • The Lease Component Proportion option is selected, if the calculation is based on the Tenant Proportion amounts.
          • The Parent Property option is selected, if the calculation is based on the Parent Property amounts.
        • For the Amount to Cap On field, the following options will be available:
          • The Lease Component Last Paid option is selected, if the calculation is capped on what the Tenant paid last year.
          • The Parent Property Last Paid option is selected, if the calculation is capped on what the capped Parent Property expenses were last year.
        • For the Apply Capping field, the following options will be available:
          • The COA Level is selected, to apply capping to each individual COA.
          • The COA Outgoings Type Level option is selected, to apply capping to total of all Statutory / Non Statutory COAs.
          • The All option is selected, to apply capping to the total of all COAs.
    2. The Cumulative CPI From fields will be available if CPI is selected in the Cap Expenses By and Cumulative is selected in the Amount to Cap On field. If it needs to be based on the difference in CPI for many years, the user can then select which CPI Period to start from to calculate the cumulative percentage.
    3. At the Base Year field, select the required year if the outgoings is based on a percentage of increase of Expenses over a Base Year.
    4. At the Type field, the following options will be available:
      • The Actuals option is selected, if the Base Year is from the actual expense amount.
      • The Budget option is selected, if the Base Year is from the budget expense amount.
    5. At the Align to Period field, select the Accounting period the outgoings year is aligned to.
    6. At the or As At field, select the date if the user wants to work out the Base Year / Align to Period based on a date.
    7. At the First Year field, select the first year to start capping from, if the year is different from the Base Year.
  19. On the Area tab:
    1.  At the Percent field, select the required option based on which the outgoings is to be calculated:
      1. Select the of Parent Area option if you wish to use an area basis. If this option is selected, the following fields will be available:
        • At the Parent field, select the parent property the total outgoings expenses will be recorded against.
        • At the Area Type field, enter the area type for the Parent Property.
        • At the Component Area Type field, enter the area type for the Component Property under the selected Parent Property level.
      2. Select the Override option to use a basis other than the area and enter the required override percentage.
  20. On the Budgeted Outgoings tab:
    1. At the Budgeted COA field, enter the Chart of Account to be used to record any payments made during the outgoings year based on the budget.
    2. At the Budgeted Up To field, select the date the Budgeted Outgoings process has been run up to for the Lease attached.
  21. On the Overrides tab:
    1. At the Year field, select the year to start the calculation from.
    2. The Lease Component Last Paid field is to be used, if on the Expenses Tab:
      1. The Calculation Method is Lease Component Proportion Level and Amount To Cap On is Last Paid.
      2. The Calculation Method is Parent Property Level and Amount To Cap On is Lease Component Last Paid.
    3. At the Lease Component Last Actuals field, enter the amount to be used if the Calculation Method is Lease Component Proportion Level and Amount To Cap On is Last Actuals.
    4. At the Lease Component Last Year Actuals field, enter the amount to be used if the Calculation Method is Lease Component Proportion Level and Amount To Cap On is Cumulative and Base Year has a value.
    5. At the Lease Component Last Highest Paid field, enter the amount to be used if the Calculation Method is Lease Component Proportion Level and Amount To Cap On is Cumulative and Base Year does not have a value.
    6. At the Parent Property Last Paid field, enter the amount to be used if the Calculation Method is Parent Property Level and Amount To Cap On is Last Paid.
    7. The Parent Property Last Actuals field is for reference only and is not used for previous year capping amounts.
    8. The Parent Property First Actuals field is for reference only and is not used for previous year capping amounts.
  22. Click the Right Hand Side Application tool-bar push button: Add.
  23. Repeat these steps to add more lines to the Outgoings Profile.
  24. Click the Left Hand Side Application tool-bar push button: Change.
  25. Confirm that you wish to add the new record.
  26. Refer to Adjusting the Outgoings Profile for a Lease Component for field descriptions on how to configure the Outgoings Profile for a Lease Component.

How Do I : Modify an existing Outgoings Profile

  1. At the Outgoings field, locate the Outgoings Profile.
  2. Make changes to the Name, Effective, Aggregation, Agreed, Reconciled Up To (All Lines) fields as required.
  3. At the Projection Assumption fields, if required, enter the assumption percentage for expenses to be increased / decreased in future.
  4. Tick the Reconciliation Required check box to determine whether an outgoings reconciliation needs to be done for the Lease at the end of the outgoings year.
  5. At the Cash Book field, if required, change the Cash Book for the Profile.
  6. At the COA field, if required, change the COA for the Profile.
  7. The Details field gets populated with the COA details based on the COA that is selected for the Profile.
  8. At he GST field, if required, change the GST type for the Profile.
  9. Tick the Inclusive check box if the Amount field will include GST. Otherwise the GST component will be calculated and added separately.
  10. The GST From date will default to the value set up for GST.
  11. At the Cost Code field, if required, change the Cost Code for the Profile.
  12. At the Fee field, if required, change any additional fees associated with the reconciliation to the transaction that is raised.
  13. For the maintenance of the Expenses Line items, the user has the following options:
    1. Add a new Expense line by entering in the fields on the Expenses, Outgoings Calculation, Area, Budgeted Outgoings and Overrides tabs and clicking the Right Hand Side Application tool-bar push button: Add to add the Expense line to the Expenses table.
    2. Change an existing Expense line by double clicking a line in the Expenses tab and modifying any fields on the Outgoings Calculation, Area, Budgeted Outgoings and Overrides tabs if required, and clicking the Right Hand Side Application tool-bar push button: Change.
    3. Delete an existing Expense line by double clicking a line in the Expenses tab and clicking the Right Hand Side Application tool-bar push button: Delete.
    4. If a new Expense line needs to be added to the existing lines, click the Right Hand Side Application tool-bar push button: New.
  14. Click the Left Hand Side Application tool-bar push button: Change.
  15. Confirm that you wish to change the record.

Modifying an existing Outgoings Profile will not change the Lease Outgoings instances that have already been created against the Lease components. The changes will only affect new Lease Outgoings entries you create subsequent to the Lease Outgoings Profile changes. If you need to change existing entries, these will need to be done individually.

How Do I : Delete an Outgoings Profile

  1. At the Outgoings field, locate the Outgoings Profile.
  2. Click the Application tool-bar push button: Delete and confirm that you wish to delete the record.

Deleting an existing Outgoings Profile will only remove the record associated with the Effective Date, when attached to a Lease Component.

Deleting an existing Outgoings Profile will not delete the Lease Outgoings instances that have already been created against the Lease components. If you need to delete existing entries, these will need to be done individually.

Related Topics

Outgoings Profiles are associated with the following Topics: