To add a new expected cost to a sinking fund

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The procedure to add a new expected cost to a sinking fund is as follows:

  1. Navigate to Quick Menu > Service Charges > Management > Sinking Funds. The Sinking Fund window is displayed.
  2. Expand a cost centre heading and select an associated sinking fund from the alphabetical list, or type its name into the Search Sinking Funds field. By default the list is filtered to show Current sinking funds. An alternative filter can be applied using the Select view drop-down field: Expired, Future or All combinations 1.
  3. Click on Expected Costs. The Expected Costs tab is activated.
  4. Click on New Expected Cost. The Expected Costs window is displayed.
  5. Enter a Description of the expected cost into the field provided.
  6. Using the Cost element drop-down field, select from the filtered list the elemental component to which the expected cost relates 2.
  7. Enter the Expected cost figure into the field provided. The Up and Down arrows are available to increment or decrement the value, as required.
  8. Enter the Expected date of the cost to be covered by the sinking fund using the calendar icon (), or type in the value directly 3.
  9. Choose an Effective from date for this expected cost i.e. the earliest date on which the cost against the sinking fund is anticipated 4.
  10. Choose an Effective to date to define a maximum timeframe beyond which the cost is no longer expected; a blank field means the expected cost could be incurred at any time in the foreseeable future.
  11. Click on Save. The anticipated sinking fund expenditure is displayed in the Expected Costs summary table  5.


Note

1 The Search Sinking Funds field will match against any element of the sinking fund description.

2 Only cost elements linked to the cost centre of this sinking fund will be available for selection.

3 The permitted date entry format is DD/MM/YY or DD/MM/YYYY.

4 The Effective from date defaults to the current system date and cannot be left blank.

5 To amend the details of an existing sinking fund, expand the cost centre heading, select a sinking fund from the alphabetical list (or type its name into the Search Sinking Funds field) and repeat steps 5 through 11. Only a limited number of fields can be updated once a record has been created.


See related topics...

Sinking fund management overview

To calculate the sinking fund contributions within a cost centre

To apply an adjustment to a sinking fund account

To create a new sinking fund for a cost centre