The Allocate Sinking Funds feature enables you to transfer money from the sinking funds to a budgeted nominal.

In order to allocate the sinking funds, the Sinking Fund Cash Balance cannot be 0. Therefore, a sales invoice must be raised by a service charge company to a tenant against the sinking fund nominal and paid by the tenant in order for the Sinking Fund Cash Balance to be greater than 0.

Note: The sinking fund nominal must be created in the Balance Sheet Accounts > Long Term Liabilities portion of the nominal accounts and added to the Service Charge Expenditure Budget in the Admin > Nominal Account Reporting Groups. There must also be a budget amount for the Sinking Fund nominal.

The Sinking Fund Cash Balance displays in the Service Charge Expenditure tab.

Open a budget and click Allocate Sinking Fund. The Transfer window displays.

The transfer must be From a sinking fund nominal and To a service charge nominal.

The transfer Amount must be less than the Company Sinking Fund Cash Balance.

The Budget defaults to the budget  on the Budget Details window.

Click Transfer. The amount is allocated to the selected nominal.

Introduced in version 2017.7.6.4251 on 19/07/2017