Invoice Descriptions
The correct GL Code if the description says:
05/23 REPLACED FASTENERS ON ROOF
18004-121 Roof Major Components
What questions should you ask to determine if a parking lot replacement job can be capitalized?
- 5% of the lot?
- Over $5000?
15 years
What 2 GL classifications are used to determine if a TT reimburses or not?
Recoverable vs Non-Recoverable
The correct GL Code is the description says:
06/23 SEAL/STRIPE - TT REIMBURSEMENT
18003-001 Parking Lot Seal/Stripe
How do you code the following scope?
Total Lot Size: 10,000 SF
Total Curbs: 1,100 LF
Concrete Replacement: $5,600 - Replace 800 LF of curbs
Parking Lot Replacement: $45,000 - Replace 4,800 SF
18004-011 Parking Lot Replacement
Depreciation of concrete?
20 years
Name a component covered under Roof - Major Components
Fasteners
Walk-pads
Coping metal
The correct GL Code if the description says:
03/23 REBUILD EXTERIOR WALL
18004-001 Building Structure - Additions
How do you code the following invoice?
Lighting & Electrical Diagnostic
47180-000 -Lighting Rep & Maint
Depreciation of asphalt?
10 years
If a paving contract has "stripe the affected area" in their scope, do you separate out the striping on the invoice?
No
The correct GL code if the description says:
02/23 PARKING LOT R&R
18004-011 - Parking Lot Replacement
Code the following scope:
Retrofit LED Bulbs: $4,780
Fill Pothole: $2,760
TT Reimburses for parking lot work, due upon receipt. Common area expenses are recoverable through CAM.
Retrofit Bulbs: 42180-000 Lighting Rep & Maint
Fill Pothole: 40320-000 DPT
Depreciation of roof replacement?
20 years
What type of capital expenses affect AFFO?
Recurring - seal/stripe, painting part of building, etc.
The correct GL Code if the description says:
2023 ROOF PROJECT CONSTRUCTION MGMT SVCS - PROGRESS PAYMENT
18004-021 Roof Replacement - Additions
The code for the following scope:
Backflow inspection
TT reimburses through CAM.
42230-000 Plumbing Repair & Maintenance
Who dictates depreciation schedules?
SOX
What class of GL Code can be either recoverable or non-recoverable?
Capital Expenses.