What it's forThe approved budget is what levies are raised from, and the Actual and Variance columns show the committee how the year is going.
Who it's forAccounts officers and administrators. Strata managers and portfolio managers can usually view.
Before you start
- Your persona can record finance (Accounts officer or Administrator). Viewing only needs levy-arrears access.
Step by step
- Step 1: Create the budgetFinance › Budgets, choose the Year, press Create the {year} budget. Choose Copy last year's budget (default), A line for each account, to fill in, or Empty (then import the spreadsheet). Press Create budget.
- Step 2: Fill in the linesWhile it's a draft, use Add a line (choose an account or New account…, enter the Budget amount), the pencil to edit a line, or Remove line.
- Step 3: Or import a spreadsheetPress Import and choose an .xlsx or CSV (up to 2 MB) with columns fund, account_code, account_name, description, amount (fund is admin or capital). Choose to replace or add to the draft's lines. Download the template first if you need one.
- Step 4: Capital works from the 10-year planPress Take capital works from the 10-year plan to set the capital works line to that year's plan total.
- Step 5: Approve itPress Approve budget once the owners have adopted it. You can now raise levies. Back to draft is possible until levies have been raised from it.
- Step 6: Code invoices and record other itemsUnder Code trade invoices to the budget, choose a budget line for each approved trade invoice. Use Record other income or spending for things like bank interest or a paid bill not from a work order.
- Step 7: Track and exportActual, Variance and Used % update as invoices are approved and levies raised; lines over budget get an Over budget badge. Export to Excel for the committee.
Common problems
“Levies have been raised from this budget, so it stays approved.”
Void those levy runs first (Levies tab) if the budget really must change.
“The scheme has no current capital works plan.”
Create the plan under Capital works plan first, covering this financial year.
Previous and next follow the Finance section.