Creating periodic Costs

Periodic cost items must first be created before they can be charged to an owner.

Create periodic cost items

Go through the Owners module to Standard periodic costs. Then click on the +New button.

When creating a periodic expense, you have the option to choose from three different options.

• Annual amount A periodic expense item with an annual amount is an expense item that applies to the period of a full year. These are fixed costs that recur annually. The effective date of the annual amount is the date on which the agreement with the owner takes effect or the date on which the first invoice is sent to the owner.
• Annual amount with a fixed date You can also set a periodic expense as an annual amount with a fixed date. This allows you to invoice the owner (or annual pitch holder) at fixed times during the year. This option differs from the option above (an annual amount), because in this case you invoice an annual amount on a fixed date.
• Quarterly amount A recurring Costs can also be set as a quarterly amount. This allows you to invoice the owner (or annual pitch holder) at 4 fixed times of the year.
• Monthly amount A recurring cost item can also be set up as a monthly amount. This allows you to invoice the owner (or annual space holder) at 12 fixed times during the year.

-Fixed amount per invoice Periodic Costs with a fixed amount per invoice can be used for one-off or occasional invoicing to an owner. No period applies to this invoice and/or cost item, as the calculation of the cost item on the invoice does not depend on the period being invoiced over.

After choosing one of the above options, fill in the remaining details. For the price, you have the option to enter a future price for a future period.

Energy costs advance

Create a standard periodic expense for an energy costs advance? Then tick Energy costs advance. You can read more about this here.

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