The "Monthly Expenses" card is a key part of your dashboard and understanding how it works is an essential part of getting the most out of your Stessa account. Your Monthly Expenses card is located on the right side of your Property dashboard, below "Property Notes."
Pro Forma Column
The "Pro Forma" column can be edited directly by simply clicking on the cell you'd like to update. The major categories are fixed in place and match those found elsewhere in Stessa and are roughly aligned with most tax reporting needs. For a true annual budget, enter your best estimates for each key expense category over the next 12 months. If you haven't done any budgeting yet, you can alternatively enter current monthly totals or an average for the past 12 months.
If you've added a mortgage or insurance details, these lines in the Pro Forma Expenses should fill in automatically and show in italics. Property taxes will also auto-populate if Stessa was able to pull them from public records.
This Pro Forma data then feeds your Property and Portfolio dashboards and, along with your Rent Roll, provides the raw data for calculating your key performance metrics.
The "Actual" column cannot be edited directly and is instead populated automatically from your Transactions page, which is where you'll track actual results. The figures you'll see in the Actual column are trailing 12-month averages, with the last month being the most recently completed full calendar month. For example, if the current month is January 2019, then the T12 period will be January 2018 through December 2018. In early February, the T12 period will flip to February 2018 through January 2019. Use the Actual column to quickly compare actual expenses incurred to your budgeted amounts.
Cash Flow Lock
To remove the padlock icon on the "Cash Flow" calculation, you'll need to enter at least four Pro Forma expense amounts to create a meaningful budget. If you don't have four separate amounts, just input "0" for a few categories until your Cash Flow metric is unlocked.
Still have questions about Pro Forma Expenses?
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