Managing Spend

What is Spend?

In Pivott, contracts are divided into two parts: the Contract itself and the associated Spend. Think of the Contract as a container, with individual Spend entries stored inside it. These entries are tied to specific properties, vendors, and contract terms. Spend can vary by type (e.g. flat rate, per property, per unit) and frequency.

Below, you'll learn how to add, edit, view, and report on Spend in Pivott.

Adding Spend

Overview

The easiest way to add Spend is directly through a contract.

If you need more info on fields like Products/Services, Properties, Spend Frequencies and Types, please refer to the sections below.

Follow these steps to get started:

1. Go to the Contracts section and select the contract you want to update.
2. Under the Spend section, click Add Spend.
3. Select the Product/Service associated with this Spend.
4. Choose the Property or Properties.
5. Set the Duration (Recurring or One-time) and the dates.
6. Enter the Cost, select the Frequency, and choose the Pricing Type.
7. Add any relevant Notes.
8. Click Save Spend. You can also use Duplicate Entry to quickly add similar spend items or Add Another Entry to continue adding new spends.

Products and Services

If you'd like to track the specific items you purchase from a vendor, you'll need to add their Products and Services. While optional when adding spend, they help categorize and report on spend by type.

• A Product might be a marketing package from an ILS vendor.
• A Service could be snow removal provided by a landscaping vendor.

You can select existing options or add new ones when creating a Spend entry.

Associating Properties

Spend entries let you optionally associate one or more properties with a specific product or service they're purchasing.

If a contract is already associated with one or more properties, these properties will be automatically selected when you add a spend. You can choose to add/edit/remove the properties in your spend entries as you wish.

Spend Frequencies

One-time

A single charge that occurs just once, commonly used for purchases like equipment or one-time services.

Monthly

Recurring charges billed every month. Ideal for ongoing services or subscriptions.

Can also be used for quarterly charges, i.e. those that repeat every three months. Useful for seasonal or periodic services.

Annual

A yearly charge, often used for licenses, memberships, or annual service agreements.

Spend Types

Flat Rate

A one-time, fixed charge—used for purchases like a physical good or a single service call. Ideal when there's a total dollar amount for all properties combined.

Per Property

Charges are calculated per property. For example, if the rate is $100/month and the entry includes 10 properties, the total cost is $1,000/month.

Per Unit

Similar to Per Property, but based on the number of units across all properties. For example, at $0.10 per unit/month with 1,000 units total, the cost is $100/month.

Per Lead*

Charges are based on the number of leads generated. For example, if the cost is $25 per lead and you receive 40 leads, the total cost is $1,000.

Per Lease*

Charges are applied per signed lease. For instance, at $200 per lease and 5 leases signed, the total cost would be $1,000.

*Please note that Pivott does not automatically calculate charges based on leads or leases. You'll need to manually enter the totals for these Spend Types.

Notes

Use the notes field to include any important details about the Spend, like special terms or context for the charge. This makes it easy to reference later!

Editing Spend

When working with Spends, it's important to preserve historical records for accurate reporting. Within a property, you can view, edit, duplicate, or delete existing Spends. For example, if you need to update an amount (e.g., from $2,480 to $2,580), you can quickly duplicate the Spend and make the necessary changes.

Viewing Spend

Contract Spend

View all spend entries across properties under a single contract. You can filter by property or product/service, and see the total monthly charges calculated for the current month.

Property Spend

View all spend entries tied to a specific property. Filter by vendor or product/service, and see the total monthly charges for that property in the current month.

Spend Reports and Amortization

In budgeting and accounting, it's important to associate expenses or income with the correct period. This process—spreading a cost over time—is called amortization.

With Spend Reports, you can:

• View total spend (monthly and one-time) by vendor, broken down by product and property, per month.
• View total spend (monthly and one-time) by property, broken down by vendor and product, per month.
• See the total company spend for the current month.
• See the total company spend for a specific property this month.

These reports help you track financial activity accurately and allocate costs to the right periods.