SmartProperty > Left-Hand Menu > Financials
Follow the workflow mentioned above to land on the Financials screen.
Here, you can set a number of preferences related to fiscal year and financial assumptions,
Under the Fiscal Year heading, navigate to the What is the date your fiscal year begins? dropdown. From here, select a date on which your fiscal year starts.
Similarly, choose the assessment collection frequency using the Assessment Collection Frequency dropdown.
Next up is the Financial Assumptions heading.
Here, the Annual Assessment Fee for the previous year is displayed in the [previous year] Annual Assessment Fees field.
Similarly, the annual assessment fee for the current year is displayed in the [current year] Annual Assessment Fees field.
The reserve balance at the start date of the fiscal year is displayed in the Reserve Balance on [current fiscal year start date] field. Note that this amount is a projected balance at the start of your next fiscal year.
Annual reserve contributions for the current year are displayed in the [current year] Annual Reserve Contributions field.
This is followed by the Component Inflation Rate, Interest Rate on Reserve Funds, and Rate of Annual Reserve Contribution. Note that these rates will be compounded each year.
All of these fields are editable and you can fill in the values as per your financial assumptions.
In case you want these preferences to apply to all of your financial plans for the current year, choose the Yes radio button from the Do you wish to apply these assumptions to all of your existing 2023 plans? question.
Once all the selections are made, click the Save button.
