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Real Property / Costs / Cost Administrator
Actual Costs
Actual costs are real charges or income—they have been reviewed and approved and have been billed or are in the process of being billed. These can be costs such as:
-
paid taxes
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paid or received rent
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snow removal costs paid to a contractor
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costs for renovation or tenant fit-out
Reports such as Cash Flow, Lease Financial Summary, and Costs present actual costs. Additionally, if you have the Chargeback & Invoicing application (or Chargeback process of Real Property SaaS module), you can charge back actual costs and invoice them.
Actual costs are stored in the Costs table.
There are two ways to create actual costs:
| Method | Description |
|---|---|
| Approve scheduled costs with the Cost Wizard's Approve Costs tab |
This action moves the selected scheduled costs to the Costs table, and deletes the Scheduled Cost records. These costs will have a Cost Status of Payable (for costs that are expenses) or Receivable (for costs that are income). The Chargeback Status is Not Charged Back. |
| Generate chargeback Cost records using the Chargeback Cost Wizard's Generate tab |
Requires the Chargeback & Invoicing application (or Chargeback process of Real Property SaaS module). The system generates new Scheduled Cost records for the rolled-up/prorated amounts. You can then approve these costs from the Approve Tab to move these charged back Scheduled Cost records to the Costs table. When approved, these Cost records will have a Chargeback Status of ROLLED UP or PRORATED. |
See Also
Chargeback Administrator (Chargeback & Invoicing)