Configuring Expenses
  • 31 Jan 2024
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Configuring Expenses

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Article Summary

Expenses cover the different expense categories for the investment pool. For example, within a real estate investment pool you may have income categories for rental property expenses and another for business property expenses.

You can:

  • Create different expense categories by selecting Create Expense Category.
  • Edit existing options by selecting the Actions button and then choosing Create New Version.
  • View existing options by selecting the Actions button and then opting for View.
  • Copy existing options by selecting the Actions button and then choosing Create New Expense from This.
  • Deactivate existing options by selecting the Actions button and choosing Deactivate.
  • Delete existing options by selecting the Actions button and then opting for Delete.

Expense

Expenses parameters

ParameterDescriptionRequired
Effective dateThe date when the change should be implemented.YES
NameThe name of the expense category. Include at least 3 or more letters or numbers, symbols cannot be used.YES
StatusWhether the expense category is currently active or inactiveYES
DescriptionDocument additional details or context related to the subject.NO
AccountIdentifies the account associated with the expense.YES
Allocation methodSpecifies the method employed for allocating profits (Select option from drop-down: Average balance; Number of accounts; Percentage)YES
PoolsThe pools that are associated within the profit-sharing system.YES

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