To adjust the asset contributions within a sinking fund account

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The procedure to adjust the asset contributions within a sinking fund account 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 Assets. The Assets tab is activated, revealing all assets that are applicable to the sinking fund in the Assets summary table 2.
  4. Double-click on the row matching an asset for which sinking fund contributions will be adjusted. The Adjust Asset Contribution window is displayed, revealing the Current period contribution value.
  5. Enter the New period contribution figure into the field provided i.e. the revised sinking fund charge applicable to this asset. The Up and Down arrows are available to increment or decrement the value, as required.
  6. Where the revised charge can be matched to all expected costs in equal share, activate the Apportion across expected costs tick box provided 3.
  7. Alternatively, using the Expected cost drop-down field, select the anticipated expenditure entry matching the actual charge.
  8. Use the Notes field to add contextual information in support of the adjusted asset contribution.
  9. Click on Save. The current period contribution for the asset reflects the revised figure.


Note

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

2 For an asset record to be included in the list, it must not only be linked to the relevant cost centre via its service charge group membership but also flagged as 'Sinking Fund Applicable'.

3 This is the default setting for revised asset contributions; hence the option must be deactivated before a specific Expected cost can be selected from the corresponding drop-down field.


See related topics...

Sinking fund management overview

To add a new expected cost to a sinking fund