Bills, funds and apportionment
Bills explain supplier costs. Funds explain which pot of association money supports an amount. Apportionment explains how a shared resident charge is divided. They work together but are not interchangeable.
Recording a bill
Choose Financial > Bills > Add Bill and record:
- the contractor or supplier;
- amount due and due date;
- reporting category;
- description or notes;
- an optional linked work; and
- the invoice, receipt or supporting document.
Select an existing contact where possible. A new supplier entered from the bill can be saved as an external contact so later work, quotes and spend history use one record.
Recording a bill does not record bank payment. It creates the amount owed and lets reports show an unpaid liability. Match the outgoing bank row when payment actually leaves the account.
For example, recording a cleaning invoice adds the bill to the amount owed. When its payment appears in the bank statement, match that outgoing row to the bill. Do not also allocate the same payment directly to an expense category: it needs one explanation for each amount paid.
Bill status and corrections
A bill can be unpaid, partly paid, paid or void. The status follows its matched bank allocations.
Paid and partly paid bills cannot be freely edited or removed because that would disconnect the explanation from the bank evidence. Unmatch the relevant allocation first, correct the bill, then rematch it. Void or reversal history is retained for audit.
Fund types
- Operating Fund: everyday receipts and spending.
- Reserve Fund: money set aside for planned or unexpected larger needs.
- Sinking Fund: money accumulated for a particular long-term purpose or replacement cycle.
Use the terminology that reflects how the association actually manages its money. Do not create a new fund for every supplier or reporting category.
Fund balance and target
The fund balance records the amount attributed to the fund. A target is a planning goal. Fund balances are an explanation of how bank cash is earmarked, not additional cash on top of the bank balance.
Archive an unused fund only after checking its balance and active allocations. Historical transactions remain connected to an archived fund.
Work and asset allocations
A fund can reserve amounts against works, major works or building assets. This shows intended use and supports planning without pretending the money has already been spent.
The work finance summary can then compare:
- funding set aside;
- supplier bills;
- resident payments requested;
- payments collected; and
- amounts still outstanding.
An allocation is a plan or earmark. A matched bank payment is evidence of cash movement.
Apportionment schedules
Use Units > Apportionment to define how a block-wide charge is split across participating units. The available method can use equal shares or recorded lease percentages.
Create a draft first, set the effective date, review the total and add a reason. Approve the schedule only after it matches the association's governing documents and decision. The history keeps both drafts and approved schedules for review.
Changing apportionment does not silently rewrite already issued demands. A schedule explains the basis used from its effective point, while older financial documents retain their original issued amounts.