Defaults
Default settings and values for risks and assumptions ensure that calculations can begin smoothly, even when some required data is not yet available.
Under Application settings > Defaults, you can make various settings regarding:
• Company
• Process
• Property
• Contract
Company
At this level, you can make various settings to be used as company defaults.
Field | Description |
|---|---|
Start month financial year | Select a month as start for the financial year. |
Presentation currency | Select an active currency from master data. |
Reporting language | Choose a reporting language from the drop-down list. |
Index method | |
Index method renewal rent Index method Land value Index method vacant possession value Index method rebuild value Index method Tax value Index method review rent Index method rent cap Index method estimated rental value Index method revaluation | Choose the required index method from the drop-down list. The list references the index method name specified as Index method. |
Process
At this level, you can select default values per process type.
 | The list only contains processes for which you are licensed. |
Field | Description |
|---|---|
Forecast level | Select a forecast level from the drop-down list (reference to the picklist Forecast level). |
Basis of value | Select a value from the drop-down list (reference to the picklist Basis of value). |
Strategy | Select a strategy from the drop-down list: • System strategy • Custom strategy The budgeting process does not require a strategy, hence it is empty. |
Financial statement | Select a financial statement from the drop-down list (reference to cash flow statement). The budgeting process does not require a strategy, hence it is empty. |
Period type | Select a period type from the drop-down list • Calendar year • Forecast year |
Forecast period | Select the length of the forecast period in months. |
Reference date | Select a date from the drop-down list: • Forecast date • Valuation date |
Property
At this level you can specify defaults per property type and country.
Field | Description | ||
|---|---|---|---|
System strategy | If the process uses a system strategy based on the process configuration, the following strategies can be selected: • Highest outcome (available only when the calculated strategy in Calculations equals turnover and privatization) • Turnover • Privatization (available only when the calculated strategy in Calculations equals turnover and privatization) | ||
Valuation method | Select a valuation method: • Discounted cash flow • Hardcore top slice method | ||
Notary costs | Specify the notary costs (as a percentage from the gross capital value). | ||
Agent costs | Specify the agent costs (as a percentage from the gross capital value). | ||
RETT scheme | Select a RETT scheme from the drop-down list. | ||
VAT scheme | Select a VAT scheme from the drop-down list. | ||
Capital value rounding method | Select a rounding method from the drop-down list: • No rounding • Nearest 1,000 • Nearest 5,000 • Nearest 10,000 • Nearest 50,000 | ||
Entry value method | Select an entry value method: • Book value net • Market value net • Total investment | ||
Terminal value method | Select a terminal value method: • Closing balance • Exit yield gross ERV • Exit yield gross PGI • Manual net terminal value • Percentage of VPV
| ||
Allocation key | Select an allocation key value to distribute certain amounts to the underlying contracts that are not included in the financial statement configuration. |
Contract
At this level you can specify contract values per property type and country. The defaults apply to vacant rentable units for which no terminated contract or future contract is provided. If a terminated or future contract is available, the contract source data is taken from that contract.
Field | Description |
|---|---|
Recovery structure | Select an active recovery structure that is created in recovery structures. |
VAT liable | Indicate whether the lessee is subject to VAT. |
Turnover rate | Specify a rate. |
Rent free and cash incentive for | Select when to apply rent free and cash incentive: • Only relet • Only renewal • Both renewal and relet |
Relet term | Specify the relet term in months. |
Rent free method | Select the method for determining the rent-free • Contract start • Spread |
Rent-free term | Specify the rent-free term in months. |
Vacancy term | Specify the vacancy term in months. |
Rent duration | Specify the rent duration: • Fixed term • Indefinite period |
Renewal rent type | Specify the renewal rent type. |
Notice period | Specify the notice period in months. |
Contract line
At this level you can specify contract line values per property type and country. The defaults apply to vacant rentable units for which no terminated contract line or future contract line is provided. If a terminated or future contract line is available, the source data is taken from that contract line.
Field | Description |
|---|---|
Contract line type | Specify a contract line type. Currently, only Passing rent is supported. |
Cash flow method | Specify a payment method: • In advance • In arrears |
Cash flow period | Specify the payment frequency. |
Index methodology | Specify the index method. |
VAT scheme | Select a VAT scheme. |
Review rent type | Specify the review rent type. |
Review term | Specify the review term in months. |
General ledger | Select a default general ledger line. |