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Schedule Recurring Costs

You can schedule recurring costs so that these costs become Scheduled Cost records that include the exact amount of each income and expense in its own record as an individual cost. Since Scheduled Costs have not yet been approved, they can be changed. Using Scheduled Costs records, you can experiment with chargeback scenarios and more accurately calculate cash flow.

To schedule costs:

1. Select Cost Administrator / Cost Wizard for Leases, Buildings, or Properties, or Cost Wizard for Accounts.
2. Use the drill-down selection list to select the item you want to schedule costs for. You can drill down from the country to the parcel.
3. From the Schedule Costs tab, select at least one Recurring Cost record.
4. Click Schedule.
5. In the pop-up window, enter the End Date. This is the date to which you want to schedule out the Recurring Cost records.
6. Click Schedule Costs.

   If no Scheduled Cost records have been previously generated for the selected Recurring Cost records, the system copies the Start Date of the Recurring Cost record to the Due Date field of the first Scheduled Cost record. (Every Recurring Cost record has a Start Date.) The system creates Scheduled Cost records for each interval period up until the End Date you entered.

   Otherwise, to avoid duplicating charges for a particular time period, the action starts generating Scheduled Costs from the change-over date. The change-over date is the Date Due value from the most recent Scheduled Cost or Actual Cost record that was generated from the selected Recurring Cost record. The Start Date of the first Scheduled Cost record will be one interval from the change-over date. For example, if a Recurring Cost record has existing Scheduled and Actual Costs generated from it, and if the existing record with the most recent due date is a Scheduled Cost record for a quarterly utility bill due 3/01/2009, the system generates new Scheduled Cost records starting from 6/01/2009.

   In order to track which Scheduled Cost records were generated from which Recurring Cost records, the system copies the Recurring Cost Code to the Scheduled Cost that is created. The system uses this assignment in determining the change-over date.

   Scheduled Cost Status: When you schedule Recurring Cost records to generate Scheduled Cost records, the system sets the Cost Status for the Scheduled Cost record to Auto-Recurring . This indicates that the program generated this Scheduled Cost record from a Recurring Cost record.

   See Cost Wizard Process to view a diagram for this process.

Next

After scheduling costs, you can approve the Scheduled Costs from the Approve Costs tab.

Back To

Cost Wizard Overview