Overview

Setting up a budget in Kardin starts with an owner or accounting staff exporting their accounting GL list and using it to setup a Kardin file that is used as a standardized Chart of Account template. Once the property manager has the Chart of Accounts to use, they can run reports in their accounting system to download all pertinent leasing and GL information. This saves the manager from having to manually re-enter any data.  Many companies use our Batch File Maker which will automatically create the individual budget or reforecast files with the COA, GL and leasing data already populated. At this point, property managers can begin making leasing assumptions to project the income stream and related capital expenditures such as tenant improvement and leasing commissions. They also enter expense assumptions and finally, setup their recovery methods, payroll, and user-defined calculations such as management fees.

After completion of a budget in Kardin, the manager can create a reforecast file to monitor the property’s financial performance on a year-round basis. Managers simply import YTD actuals and then reforecast the remaining months expenses and update their leasing assumptions.

When the budget has been completed and approved, the Kardin budget can be exported into an Excel report that is ready to imported into the property management system. This can also be done with the Kardin Consolidation System for companies who wish to import many completed budgets at one time. Because of the flexible nature of the Kardin Budget files, many of our clients request a minimal list of hard copy reports when reviewing the budget. If they have a question while reviewing a summary level report, they simply open the file and drill down themselves and find the answer.

General Information

Kardin has a secure Implementation Downloads Page with standard implementation templates for owners to modify and distribute to managers.  In addition, we have pre-written custom reports for different property management accounting systems for interfacing with Kardin.  In order to access this information, please contact us.

We have made sections of our User Manual available here so prospective clients can get a feel for what is entailed in implementing Kardin.  In order to view our entire User Manual, you need to be a licensed user of our products.

If you are implementing the Kardin Budget System for the first time, due to an ownership mandate, please exhaust all resources from the owner regarding specific implementation procedures. Ownership procedures/guidelines take precedence over any information that you find here.  In general, there are three types of implementation needs:

• Manager Chooses to Use Kardin
• Owner Mandate - Preparing a Budget for a New Acquisition
• Owner Mandate – Implementing an Entire Portfolio

 Manager Chooses to use Kardin

   Task List for Property Managers

• Order and Install the Kardin Budget System from the Purchase Page.
• Request a License Unlock on the Unlock Page.
• Attend a Training class listed on the Training Page.
• First check with your Accounting Department to see if there are resources available to help you setup a Kardin Budget File. 
• If someone else is setting up the file for you, please review the Budget Process and follow the instructions.
• If you have to setup the file from scratch, please first use the COA Setup to setup your chart of Accounts.  Then review the Budget Process and follow the instructions.

Owner Mandate - Preparing a Budget for a New Acquisition

   Task List for Ownership Level

• Distribute Master COA Template and Implementation Document to new manager.

   Task List for Property Management Level

• Order and Install the Kardin Budget System from the Purchase Page.
• Request a License Unlock on the Unlock Page.
• Attend a Training class listed on the Training Page.
• Obtain the Master COA Template from owner. This is a Kardin .cmm file. (To access this file, you’ll need to save it first and then open it using the Kardin Budget System).
• From Accounting System, download: Suites, Tenants, Rents and applicable GL data (Your owners may have more specific instructions on how to do this).
• If available, follow the instructions from your owner's implementation document.  Otherwise, you can follow the Budget Process provided by Kardin.

Owner Mandate - Implementing an Entire Portfolio

   Task List for Ownership Level

• Obtain or write a Kardin Interface Report in your accounting system for data download.  Please visit the Implementation Downloads page to see if we already have the report you need.
• Setup a Master Charts of Accounts and “COA Links to Budget” in Kardin.  See COA Setup.
• Decide whether to start with a reforecast for current year or a budget for next year.
• Run data download reports in accounting system to download your entire portfolio’s lease data and GL data into Excel.
• Use the Kardin Batch File Maker to generate the individual property budget files .
• Complete “Implementation Document” for distribution to all PMCs. Kardin can provide you a standard template which you can edit.
• Distribute Property Files (Budget or Reforecast) to all PMCs via e-mail or MS Sharepoint.

   Upon completion of the property budget files

• Use the Kardin Budget System to review budgets and export data to an Argus file.
• Use the Kardin Consolidation System to consolidate all of the properties' budgets for portfolio level reporting.
• Use the Kardin Consolidation System to export all of the approved budgets for import into your accounting system.

   Task List for Property Management Level

• Order and Install the Kardin Budget System from the Purchase Page.
• Request a License Unlock on the Unlock Page.
• Attend a Training class listed on the Training Page.
• Obtain your property’s Kardin budget/reforecast file AND the Implementation Document from the property Owner.
• Save the file to a known directory (i.e. c:/Kardin/budget).
• Open the file via the Kardin Budget System.
• Select “open budget” if it’s a *.cmm file.
• Select “open reforecast” if it’s a *.rfc file.
• Follow the directions provided in the Implementation Document provided by the property Owner.