3.10 Requesting provisions

Once you've added provisions in the team settings (1.14 Provision settings), we have one more step before we can request provisions. 

To let the system know which GLA's you want to use for the provision request, we have to assign them a type in the chart of accounts. 

To do this, search for the account using the search function and click the pencil icon at the top and then again next to the account.

This will open a sidebar for the account. At the bottom you will see 'Type', select the type of provision you want to use this for and click save. These types are defined in the team settings (1.14 Provision settings).

For provisions of the type fixed work capital and reserve capital, it is important that the correct division key is linked so the shares are shown correctly under capitals (financial) and on the individual settlement.

Before creating your provision requests, here is some important information to note about the different types of provisions:

Working Capital: This type of provision is used to pay for planned works, such as annual maintenance, etc. 

• We settle this type of provision at the end of the fiscal year, which means that if we see at the end of the fiscal year that a co-owner still needs to pay 800 euros in working capital, we simply remove this. 
• Working capital must always be requested on a 7 account. The customer can actually choose, but the most commonly used account is 701000 - Working Capital Advances.

Reserve Capital: This type of provision is used to pay for unforeseen works, such as a lift that suddenly breaks down, the front door that gets damaged, etc. 

• We DO NOT settle this type of provision at the end of the fiscal year, which means that if we see at the end of the fiscal year that a co-owner still needs to pay 1000 euros in reserve capital, this amount will simply carry over to the next fiscal year. 
• Reserve capital must always be requested on a 4 account. The most commonly used account for this is 410000 - Requested Reserve Capital Advance.
• Why a 4 account? Because when closing the fiscal year and transferring debts, this amount automatically carries over to the correct account in the opening balance. A 7 account does not carry over automatically and is first posted to a 1 account and then manually transferred back to a 7. We want to make the process as easy as possible for our clients, which is why we choose to book reserve capital on a 4 account.

Fixed Working Capital (Guarantee Fund): This is a type of provision used as a form of guarantee.

• We DO NOT settle this type of provision at the end of the fiscal year, which means that if we see at the end of the fiscal year that a co-owner still needs to pay 1000 euros in fixed working capital, this amount will simply carry over to the next fiscal year (linked to the unit). 
• Fixed working capital must also always be requested on a 4 account. The most commonly used account for this is 410100 - Requested Working Capital Advance.
• Why a 4? Because when closing the fiscal year and transferring debts, this amount automatically carries over to the correct account in the opening balance.

Now, to request provisions, go to your building page and click on HOA management. Follow this up by clicking on the 'Provisions' tab and click on the '+' (create) button.

1. Click on the drop down menu and choose the provisions you want to request. You can select up to three provisions at a time. Per provision you can select the following:

• Start date
• Payment term
• Description
• Checkbox for whether or not the provision should be recurring 

       1.1. If you want the provision to be recurring then click the checkbox. This will prompt a popup. Here you can enter how often the provision should be requested. You can enter how many months should be between requests, which day of the month or the first, second, third, etc day of the week and whether business days need to be taken into account or not.

2. In step two, you can add all the financial information for each provision. You'll have to do this 1-3 times, depending on how many provisions you are requesting. Here you'll have to fill in the following:

• Total amount (this is the total amount over all the recurrences)
• Amount (possibility to split the total up in several amounts by clicking the '+' icon or deleting one by clicking the trashcan icon)
• GLA
• Division key
• IBAN

3. In step three, you'll see an overview of the provisions and the amount you've requested. Here you can also save the provision without sending it. If you do want to send, then go to step four.

4. In step four, you can save your provisions and send them per email/letter.

Here you'll have the option to choose a template. Once the template is selected, you will see a preview of your letter/email and the attachment that is being sent with it. If everything looks ok, then click on 'Request provisions' to send the letters/emails.

   Once clicked, the provision requests will send on the specified dates and a mailings batch will be made for each request.