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Office for Lease Accounting Company

Office for Lease Accounting Company

The office for lease accounting company certainly has a lot of expenses that need to be taken care of. So what expenses will accounting work include? What points should you pay attention to avoid negligence in the accounting process?

The expenses of the office leasing company need accounting

The expenses of the office leasing company need accounting
This is a job that requires a high degree of accuracy. Before accounting or accounting for office rental services, you must carefully re-invent the following items:

Fixed cost for premises

Fixed costs are the most basic expenses that each organization has to pay when renting an office. We temporarily call the lessee Party A, the lessor Party B. Before renting the premises, you need to carefully review the rental contract, including:

  • Cost for space: Depending on the status quo, Party B will set the price for the rental space. Those are the factors of the width of the house (m2), the location near the center, and the use status of the house. This cost will be disclosed in the rental information. You can choose one of the payment methods: by year, by period, or by month. All are based on the agreement of the two parties and are clearly stated in the contract.
  • Cost of renting furniture if any: With some facilities equipped with furniture, Party B can lease it to Party A if Party A needs it. At the same time, adding provisions on the responsibility to preserve furniture during use. In case of damage, Party A will have to compensate for the cost of restoring the interior condition.
  • Periodic contribution costs: The most obvious are the fees paid for utility services for the use process. Includes construction contribution fee; elevator operating fee; Tree care and pest control fees.
  • Rent tax: A very important expense that you must pay attention to when renting an office is rent tax. Since it is a matter of law, the declaration process will have to be extremely accurate.

Accounting for living expenses to be paid during the use of the office leasing company

Accounting for living expenses to be paid during the use of the office leasing company

  • Electricity and water consumption: In the rental contract, Party B will clarify the price regulations for electricity and water consumption. Based on the amount of electricity and water that the office uses, you will have to pay the corresponding amount. Each office will have its meter to monitor usage.
  • The cost for the services of the rental location: Usually the services are calculated every month. Such as general cleaning fees, parking fees for office staff, front desk fees, and security fees.
  • Compensation for damage: In case you let an incident affect the condition of the premises, you will have to compensate. In addition to the cost of restoring it to its original state, you will have to pay a compensation fee if this is provided for in the contract.

One-time payment fee

  • Cost of returning the site to its original state: This cost will be accounted for at the time of handing over the premises. Due to the process of use, the unit may change some details in the office. At the end of the contract, it is your responsibility to return the premises to their original state. Accounting for a one-time payment of office rental costs needs to be accurate and fast.
  • Cost of interior construction: For buildings that are under construction, you will be exempted from rent. However, you will have to pay some accompanying costs.

Other surcharges of the office leasing company’s accountant

In addition to the above costs, you will have to pay for activities outside the specified office hours. In the process of accounting for office rental services, you need to keep track of overtime expenses. This cost can be calculated in 3 ways;

  • Calculate by area
  • Calculated by office hours
  • Calculate by device

You can read the previous article here: HCMC Office Rental Cost in December Continued Fall

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