We're currently revisiting our budget / cost code structure for the Commercial Real Estate (CRE) side of our business as we're moving into a new ERP. Does anyone have any budget code lists or resources that work well for you that you'd be willing to share? Is there a standard like CSI like used with GC side of our business?
We currently budget into land acquisition, closing costs, financing fees, legal, consulting, development, hard costs, FF&E, pre-opening, working capital. Also considering setup based on sequencing of work such as land acquisition cost, due diligence / pre-construction, permitting, construction / FF&E spending, pre-opening, etc.
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Sheree Quarles CPA
VP of Finance and Accounting
Grace Construction Consultants, LLC
(423) 693-4118
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