Budget Cycles

Budget Cycles represent financial years for the OMC. Each cycle is divided into periods (typically monthly or quarterly) that control which accounting period new transactions are posted to. A cycle has a status — open for normal posting, in year-end processing, or closed.

At the end of a financial year, the Year End action closes the current cycle, carries forward balances, and opens the next one. The Receivables Export and Ledger Export actions allow accounting data to be exported for audit or external reporting purposes.

List View

Column	Type	Description
Name	text	The name of this budget cycle, typically the financial year (e.g. 2025).
From	date	The start date of this budget cycle.
To	date	The end date of this budget cycle.
Discount for Direct Debit Payments	number	Discount amount applied to service charges for owners who pay by direct debit mandate.
First DD Payments Taken	date	The date the first direct debit payment collection runs for this cycle.
Last DD Payments Taken	date	The date of the final direct debit payment collection for this cycle.
Discount for full on time payment	number	Discount amount applied when the full service charge is paid in a single payment by the qualifying date.
Date to qualify for full payment discount	date	The deadline date by which the full payment must be received to qualify for the full payment discount.
Notes	longText	Internal notes about this budget cycle.

Detail View

Field	Type	Description
Name	text	The name of this budget cycle, typically the financial year (e.g. 2025).
From	date	The start date of this budget cycle.
To	date	The end date of this budget cycle.
Discount for Direct Debit Payments	number	Discount amount applied to service charges for owners who pay by direct debit mandate.
First DD Payments Taken	date	The date the first direct debit payment collection runs for this cycle.
Last DD Payments Taken	date	The date of the final direct debit payment collection for this cycle.
Discount for full on time payment	number	Discount amount applied when the full service charge is paid in a single payment by the qualifying date.
Date to qualify for full payment discount	date	The deadline date by which the full payment must be received to qualify for the full payment discount.
Notes	longText	Internal notes about this budget cycle.
Period Breakdown	grid	The reporting periods (e.g. quarterly) that divide this budget cycle.
Name	text	The name of this period (e.g. Q1-2025).
From	date	The start date of this period.
To	date	The end date of this period.
Status	picklist	Whether this period is Open, Closed, or Locked.
action	icon	Open or close this period.
action3	icon	Additional period action.
action2	icon	Additional period action.
Notes	longText	Notes about this period.
delete	icon	Click to remove item from list

Available Actions

skip_next

compress

call_received

data_table

Action	Description
skip_next Create Next	Creates next cycle / financial year
Year End
compress Squash Previous
call_received Receivables Export	CSV Export of receviables transaction data
data_table Ledger Export	CSV Export of full ledgers data

Related Tabs

home

Year End Balances

attach_file

home	Main	Shows the main form fields as described above
	Year End Balances	Year-end balance journal entries for this cycle.
attach_file	Attached Files	Files attached to this budget cycle, such as audited accounts or board-approved budgets.

Year End Balances

Year-end balance journal entries for this cycle.

Field	Type	Description
Journal	link	The journal this year-end entry belongs to.
Created	dateTime	When this year-end entry was created.
Budget Code	link	The budget code this entry applies to.
Sort	text	Sort order of the budget code.
Credit	number	Credit value of this year-end entry.
Debit	number	Debit value of this year-end entry.
	text

Attached Files

Files attached to this budget cycle, such as audited accounts or board-approved budgets.

Examples

No scenarios available.