SmartProperty > Left-Hand Menu > Plans
Follow the above-mentioned workflow to land on the Plans section.
Click the Plan dropdown. From the list of options revealed, select Add New.
This takes you to the Create a Plan screen. Here, the details of the plan you want to create are recorded via three sections that include Plan Info, Funding Details, and Financial Details.
Plan Info
By default, you land on this step. Here, choose the type of plan you want to create using the Plan Type dropdown.
Use the Plan Name field to enter the name of the funding plan.
Once the details are entered, click the Next button. This takes you to the Funding Details screen.
Funding Details
In this section, details of the funding are recorded.
Enter the target percentage in the Target % field.
Select the year you want to target using the Target Year dropdown.
Enter the rate at which the annual contribution increases using the Rate of Annual Reserve Contribution Increases field.
Similarly, use the Additional Funds to Reserves field to enter the additional funds you plan to keep for the reserves.
Once the details are recorded, click the Next button. Doing so takes you to the Financial Details screen.
Financial Details
This section lets you record the financial details for the plan you are creating.
Use the Reserve Balance on [first date of current fiscal year] field to record the reserve balance at the start of the fiscal year.
Select the duration of the funding plan using the Plan Duration dropdown.
Similarly, use the Interest Rate on Reserve Funds and Component Inflation Rate to record the respective details.
In case you want to use the advanced options, click the Show Advanced Options button.
This reveals a couple of questions that include Do you have forward planning assumptions? and Do you have additional revenue?. Use the Yes/No radio buttons next to these questions to record the desired response.
Once the details are recorded, click the Create Plan button.
