recurring cost (leases and properties)

A regularly occurring cost or estimated cost which is documented with one record—a Recurring Cost record—that describes the income or expense and its pattern (how often it occurs, the rate at which it increases or decreases, the time period during which the cost applies, and so forth).

For example, if you pay a monthly rent you can develop one Recurring Cost record that describes the expense, the date of the month it is due, and the time period during which the monthly rent is due.

Recurring costs provide a means of quickly modeling your expenses and income. You can use recurring cost information to analyze cost history and cash flow; however, you cannot charge back recurring costs.

When you create a recurring cost, you assign it to one of the following entities. You must associate the cost with only one entity to avoid double-charging.

Building Code
Property Code
Parcel Code
Lease Code

If you develop recurring costs and then find that you prefer to track individual expenses (rather than the summary expenses documented by recurring costs), you can generate individual Scheduled Cost records from your Recurring Cost records.