Developments - Financial Tab
This article is part of the Developments - Financial Tab section.
The Financial tab in a Development shows a snapshot of the current financial position for that specific development. To access it, load a development and go to the Financial tab.
Screen Layout
The Financial tab has three main sections:
- Useful Info (top left)
- Property Funding (top right, two columns)
- Tabs (bottom section):
- Outstanding Invoices
- Credit Control
- Clients
Useful Info Section
The Useful Info column is located at the top left of the screen and includes the following:
Client Balance:
Total of all client debits and credits within the development. Matches the Client Balance in the Property Funding section.
Purchase Ledger Owed:
Total of PL Transactions that have been posted but not yet paid. This includes items in the Hold File and invoices that are awaiting payment. Details are shown in the Outstanding Invoices tab.
Contingency Fund:
Total held in contingency funds for the development in the Nominal Ledger.
Total Development Fees:
Total fee income from managing the development, based on fees listed per property.
Accrued Fees Since Last Bill:
Fees accrued since the last invoice. E.g. if annual fee is £5000, daily rate is £13.70. After 30 days, this totals £411.00.
Repair Balance:
Total for incomplete jobs that have values listed.
Property Funding Section
The Property Funding section shows the true financial position of the development. It includes cash held in floats, less client balances and charges still to be billed (i.e. those in the Hold File and Charge File).
However, this can be misleading — for example, there may be £20k in client debit balances and £19k in credits. To give a clearer picture, the system subtracts client credits to display the Overall Position — showing what the development’s finances would look like if all clients in credit requested a refund.
Values posted in advance (e.g., Management Fees run up to 28 Nov) won’t show in the Property Funding section if you’re viewing the tab on an earlier date (e.g. 27 Nov).
Float Balance:
Amount in the Float File for the development. Shows cash available to maintain the development.
Client Balance:
Net total of all client debits and credits.
Hold File Invoices:
Amount in Hold File for this development not yet released. To view breakdown, go to the main Hold File tab and search for this development.
Charge File Balance:
Total in the Clients' Charge Files ready to be invoiced. Excludes future-dated postings.
Development Balance:
Calculated as: Floats Held – Client Balance – Hold File - Charge File. Shows true development funding.
Ring Fenced Funds:
If any, balance in ring-fenced funds will appear here.
Clients' Credit:
Shows amount by which clients are currently in credit.
Overall Position:
Development Balance less Clients' Credit. Offers a clearer picture when credit levels are high.
Current Clients Only:
Balance for current clients only. Excludes sold clients.
Exited Clients:
Balance for sold clients.
Advance Charges:
Ignore unless using the Advanced Charge tool.
Estimated Charge:
Relevant only if using the Advanced Charge tool.
DR Balances Over 28 Days Old:
Lists debit balances older than 28 days. Works only if allocations are run in the system.
In the system option "Old Debts Min Age_Days", you can specify the number of days used in the calculation and display of the "DR Balances Over [xx] Days Old" field in the Property Funding section. By default, this is set to 28 days. Contact Support to change it.
Insurance Fields
These fields only apply if you use the Insurance module in the system.
Sum Insured
Total sum insured for the development. May be per property or apportioned.
Insurance Premium
Annual premium based on sum insured, rates and IPT (Insurance Tax Premium).
Outstanding Insurance
Total of unpaid insurance invoices, based on allocations run.
Outstanding Invoices Tab
This tab lists unpaid PL invoices. View details such as:
- Invoice number and date
- PL Account
- Transaction description
- Amounts
- Batch number
Credit Control Tab
Shows all credit control statuses and the clients in each, with total amounts owed.
- Each credit control group includes a client count.
- Click a row to view more detail in the lower grid.
- Double-click a client in the lower grid to open their account.
- Details include total debit/credit balance, payment method breakdowns, floats paid and more.
Filters:
- Grouping Type – Required. Group clients by status or by debt.
- Show – Required. Filter by All, Current, or Exited clients.
- Property Manager – Optional.
- Office – Optional. Leave on SELECT or change back to SELECT to remove this filter.
- Charge Heading – Optional. Leave on SELECT or change back to SELECT to remove this filter.
Clients Tab
Shows a list of all clients in the development.
- Filter by current or archived clients.
- Includes details like balance and float amount held.
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