Establish the budget and the annual statement

Purpose

The budget determines the amounts to call up on the working capital fund or the reserve fund item by item, and serves as the basis for the capital calls generated on the budget. The expenses recorded throughout the financial year then make it possible to establish the annual statement.

The annual statement distributes the actual charges according to the allocation keys and deducts the provisions already called up, so that each co-owner knows the exact balance concerning them.

Where to find it

1. Co-ownership
2. Co-ownerships

Co-ownership file, "Budget" and "Expenses" tabs, and "Annual statement" card of the "Overview" tab.

Steps

1. Open the "Budget" tab, choose the year using the arrows, and enter each "Item" with its "Allocation key", its "Fund" and its "Amount" before clicking on "Add".
2. Click on "Resume" followed by the previous year in order to copy the prior budget when the items remain identical.
3. Open the "Expenses" tab and record each expense with its "Date", its "Item", its key, its fund, the supplier, the "Invoice" reference and the amount.
4. In the "Overview" tab, indicate the "Year" of the financial year in the "Annual statement" card.
5. Click on "Download the statements" to check the PDF, and then on "Send to co-owners" so that everyone receives their statement by email.

Good to know

• If no key is chosen for an item or an expense, the amount is distributed according to the general shares.
• After sending, a message indicates the number of emails queued and the number of co-owners without an address, which you should complete on their file.
• The statements sent can also be viewed by the co-owners in their portal under "Annual statements".

Related guides

• Co-ownershipDefining lots and allocation keysRecord the lots, their shares and their co-owners, and then define the allocation keys specific to each expense, in order to ensure accurate accounting.
• Co-ownershipGenerate and issue fund callsCalculate a call based on the budget or an amount, check the draft lines, and then send each co-owner their call in PDF format.
• Co-ownershipOpening the owner portalProvide each owner with a personal link to their calls, payments, statements, meetings, documents, and incident reporting.
• OperationsMaintaining the supplier databaseCentralise contractors and service providers with their trades, contact details, insurance, ratings, and contacts.
• Rent and financeExporting accounting journalsView the sales journal, the purchase journal and the movements over a specific period, and export them in CSV or Excel format.