What it's forStrataWorx keeps each scheme's administrative fund and capital works fund: you approve a budget, raise levies from it, receipt payments against each lot and follow up arrears under NSW rules.
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.
- Lots have unit entitlements on the strata roll (levies are shared by entitlement).
- Finance › Settings has each scheme's BPAY biller code or bank account (they print on levy notices).
Step by step
- Step 1: Open FinanceStrata & committee › Finance. The tabs are Overview, Budgets, Levies, Lot ledger, Payments, Arrears and plans, Capital works plan, Bank import, Year end and Settings. With two or more schemes, pick one in the Scheme box on the right; it carries across tabs.
- Step 2: Read the overviewFigures show Levies outstanding, Overdue, Lots in arrears, Received this month, Plan requests awaiting reply and Bank lines to match. The table lists each scheme's budget status, fund balances owing and a Lot ledger button.
- Step 3: The yearly cycle1) Create and approve the budget. 2) Raise levies for each period and print the notices. 3) Record payments, or import the bank statement. 4) Follow up arrears and payment plans. 5) At year end, check the trial balance and close the year.
- Step 4: Nothing is deletedThe ledger is append-only. Mistakes are fixed with reversing entries (void a levy run, reverse a payment, write off a charge), each with a reason, so the audit trail stays complete.
- Step 5: Check the settings onceFinance › Settings has firm-wide defaults that follow NSW law (10% simple interest after 1 month, 30 days' notice, 28 days to answer plan requests, arrears notice stages). Check them with your principal before you raise levies.
Tips
- Plan requests that must be answered within 7 days show in a warning banner on the overview.
- Interest is charged automatically once a month by default (Settings › Charge it: Monthly or Daily).
Common problems
Finance opens the upgrade page.
Finance is a Premium feature. An administrator can upgrade under Billing.
“Only someone with the finance.manage permission can do that.”
Budgets, raising levies, reversals, write-offs and year end are for the Accounts officer or Administrator persona.
Previous and next follow the Finance section.