This page contains information relating to the first stage of the Budget, Levy Management & Arrears re-write. The first stage focuses on providing an improved user interface & experience in Levy Management; while utilising new fields from Levy Invoice Code Setup to streamline the creation of new levies based on budgets.
Levy Invoice Code Setup
The Levy Invoice Code Setup will include the new fields below. The new fields will minimise the manual steps a user may need when entering levies.
Type - used to identify the levy type and disable a levy invoice code so it can no longer be used.
Discount % - enter the default discount % for the building, this will be used on creation of all new levies.
Instalments Per Year - enter the default number of instalments. This will be used when a levy year-end is rolled to create the correct number of instalments without user intervention.
Levy Management
An easy-to-use interface displaying key information and new terminology. Build levies in a simple view, drill down into lot-specific levies with paid dates, and manage levies by adding, editing, deleting, or reversing them.
Features include:
- The ability to create new levies manually or by budget; when produced by budget for the levy year being proposed/approved at an AGM, the periods are calculated based on your budgets and the default fields in Levy Invoice Code Setup.
In this example, creating the new levies to propose for the next 12 months, the calculation of 'This Year Budget' - 'Income Balance' - 'Outstanding Levy Income' / 'default instalments' created the remaining three levies required based on the current year budget plus an Interim Levy for the first quarter of the next financial year based on the next year budget.
- The Create Transactions & Notice button functionality replaces Generate Levies, offering a streamlined interface that displays the transactions being created while highlighting any potential issues & manages levies with due dates that do not meet legislative requirements.
- New interfaces for Configuration, Merged Notice & Split Levy Setup.
- The Merge Notice functionality will be released after completing the levy notice stage. This feature will allow the Main Account Code to be set, determining the Lot Address displayed on the notice and the lot where the notice will be filed in DocMax.
- Split Levy will allow for contact card selection and notices to be emailed to non-owners if required.
- Effortlessly create and modify custom levy entitlement schedules for any building.
- Lot Entitlements can now be set, including decimal points; buildings using the current Entitlement Factor setting will be adjusted on upgrade.
Next Stages
The following stages of the Budget, Levy Management & Arrears re-write will focus on budgets & reporting. Some of the key aims are:
- Easy-to-use budget interface & new functions such as budget notes
- Enhanced budget workflow from creating a proposed budget to approving the budget
- Improved budget reporting, including proposed levies by lot
- Enhanced meeting hub integration so levy information can merge into motions
- Levy Distribution to use Report Distribution interface
- Merge levy functions to be released to allow control over the Main Account (Primary Lot)
