Levy Management | FAQ

With the changes to Levy Management, the below page includes some of the most frequently asked questions around how this area works.

Levy Year

Q. What is a Levy Year?
A. The Levy Year is the levy periods that you are about to resolve at the upcoming AGM.

Q. When do I have to change my levy year?
A. In planning for the next AGM.

Q. My levy year is several years behind - do I have to update this for every building?
A. Not initially - only as each building prepares for AGM. You can edit the Levy Year to the required year. Watch our video on how to set the Levy Year to match the AGM levy decisions, where we demonstrate how to update the Levy Year.

Q. How does the Levy Year calculate the levies?
A. Tip is to hover over the levy period to see the calculation. Calculation is the annual rate per unit of entitlement (U/E) and distributed evenly across four quarters, or according to the number of instalments defined. 
Rate = (Next Year Budget - Outstanding Levy Income / Entitlements / Remaining Instalments).

Budget

Q. If there is no Next Year Budget what is used to calculate the levies?
A. Current Year Budget will be used to calculate.

Q. I need a report to show the quarterly proposed levies for each lot.
A. In Levy Management, produce the Levy Register - Quarterly for a breakdown report for each lot. 

Levy Management

Q. What has Strike been replaced with?
A. Approve Levies. 

Q. Where can I find the Levy Balance Control Report?
A. Levy Balance Control Report can still be produced from Levy Notice/ Reports under Options. The Levy Generation Schedule can be used and this is a global report accessible in the Reports menu of Levy Management. When in the Create Transactions and Notice - there is also a preview of the levies about to be issued.

Q. How do I create Special Levy?
A. The Levy Invoice Code will need to be created or exist already in Levy Invoice Code Setup and have the Type set to 'Special'. 

Q. Old levies are appearing in Levy Management and on Certificates; how can these be removed?
A. In Levy Management select Options and then Set Current Levies and untag any levies as required. The levies will still be available to report on and display in Levy Management by ticking Show Historical Levies.

Q. I am trying to enter levies for a new building using Add - By Budget and they are not being created. 
A. Check Levy Invoice Code Setup for the Instalments. Review and set Base Building as required. 

Q. I would like to print a Levy Register Summary Report; how can this now be done?
A. The Levy Register is now two reports, so from Levy Management / Reports / Levy Register from the Report Distribution screen click Report and add Levy Register Summary. 

Q. Do you need to re-enter the custom schedule and owners on interest free list or do these get copied over?
A. This information will be included on upgrade.


Q. Where can we watch the Levy Management recording?
A. The webinar recording can be located on our Live Sessions article as well as under StrataMax Videos. 

Q. Is the levy year end rollover only available when you add new levies by budget (not manual?)
A. Yes, when you select Add - By Budget you can adjust the Levy Year. You can untag the levy periods being created if preferred. 

Q. Can levies still be issued globally?
A. Yes, from Create Transactions & Notice in Levy Management you can select Buildings and tag all.

Q. Do the levy screens show inclusive of GST or exclusive of GST?
A. Levies to owners are always inclusive of GST.
NOTE: GST will be automatically applied to budget amounts for Net GST style buildings on Levy Year rollover.

Q. If you have custom schedules can you not add by budget? Does it have to be done manually?
A. Yes they will need to be created manually as the custom schedule is not available to be used adding from budget. 

Q. When adding by budget what levy types can be used?
A. Levy Invoice Code Setup with a Type of (Regular) levies. Which may include additional levies or Trading Fund levies.


Q. There is a message "Budget not set for accounts:" in Levy Management, what does this mean?
A. Budget Accounts that do not have any data entered in Budget Update will be displayed as a warning only in the Add Levies by Budget screen. 

Q. We previous used Set Levy Notice Date to enter levies issued by prior/previous managers, how is this now done?
A. When entering the levy information, use Prior Manager as the Type. 

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