The Expenses table shares similarities with the Income Analysis in regards to how you will input data; work from left to right, ensuring that Toggle Display is enabled so that you may enter new entries. Toggle Display is located to the left of the Income Analysis table.
Using the Expenses Table
When you enable Toggle Display, the expense categories that appear are from the Appraisal Institute Commercial Database Standards (AICDS) and correspond with the expense categories in the N1-Web database.
Altering these expense labels will result in data loss and/or compromise data when saving the subject as a database record to your N1-Web database.
2. Enter the Total Expense Amount, Not Including Reimbursements
The Expense Amount should be entered as appropriate. Note whether it is a rate that is incurred yearly, by square footage, or some other special factor.
Do not take into account reimbursements in this section; the adjacent table titled Reimbursements allows you to factor in those calculations.
3. Select How the Expense is Incurred
If the Amount that you entered is a yearly rate, simply click into the Method drop-down and select $/Year. Otherwise, select the option from the drop-down that matches the format of the Amount you entered.
4. Select How the Data is Broken Out
The last column has a configurable header, and clicking on the column cell will produce a list of four options that can be used to further break down your expenses.
The Net Operating Income (NOI) is calculated automatically. The capitalization rate is entered by the analyst, as is the final and the final rounded value. Final cap rates, and values that would be inappropriate to automate, are always hand entered to ensure appraiser judgment in the valuation process.
You can account for any reimbursements via the Expense Reimbursements table that is situated adjacent from the Expenses table. You will find each of your expenses listed on the Reimbursement table; simply select whether a certain expense is reimbursed or not via the Reimbursed drop-downs, and enter any desired notes into the Notes column.
The Amount is automatically calculated from the Expense Amount. If there is a partial reimbursement, you would need to unprotect the worksheet, delete the formula from the cell, and enter in the partial amount. That amount then is added to the Expense Reimbursement calculation on the Expense table.