06 - Account Heads [Build-To-Rent]

Summary

  • :open_file_folder: Pre-Populated Account Heads: The video explains different account heads such as Cost of Goods Sold (COGS), Revenue, Operating Expenses, and Capital Expenditures. These are pre-populated and linked to cost centers for ease of accounting.
  • :hammer_and_wrench: Customizable Input Fields: Blue cells are input fields where you can add custom codes and descriptions for account heads. Any new entries are automatically updated in linked sections.
  • :link: Seamless Data Integration: Data entered for account heads is synchronized across cost centers and development cost sheets, ensuring no manual updates are needed.
  • :arrows_counterclockwise: Granular Cost Tracking: Granular cost centers under account heads provide detailed tracking. These details are separated for post-construction operating costs and capital expenditures, allowing accurate accounting.
  • :bar_chart: Automated Calculations: The system ensures all calculations related to account heads are correctly segmented for better reporting and analysis.

Insights Based on Numbers

  • The system allows input for up to 15 entries per account head, offering flexibility for detailed categorization.
  • Automatic updates based on new entries ensure real-time accuracy in cost tracking, reducing errors.