What is apartment accounting
software?
An
apartment accounting software enables the apartment treasurer to easily set up
and monitor the accounts for tracking the income and expenditure of the
apartment community. The
apartment accounting software of CommonFloor helps in the maintenance of a 100%
automated bill generation to the live statutory balance sheet.
What are the advantages of an
apartment accounting software?
- One can get the publishing of accounts of all
the members in a single click.
- This application need not have a person to
enter the accounts on a day-to-day basis and instead the auditor can
approve the accounts.
- It maintains an online account statement
available to each apartment along with the previous late interest view.
- One can instantly pay the maintenance bills,
facility bookings and others online and get an instant receipt through the
online payment gateway.
- It helps in an online purchase workflow along
with the budget, variance, expense comparison, cash position and so on.
Why an apartment association
should use an apartment accounting software?
- Enables to track income and
expenses
- The security of a message
transmission
- Fully integrated with email
and SMS
- Role based access
- Simplifies the work of
managing committee, treasurers and auditor
How
does one make the payment online?
An
apartment owner can pay all his/her bills through an online payment gateway
solution. The online payment gateway application is one of the cutting-edge
applications initiated by CommonFloor.
The features of an online payment
gateway are:
- An e-commerce application
service provider authorises payments for e-businesses
- Facilitates the transfer of
information between a payment portal and the Front End Processor or
acquiring bank.
- No worries of cheque bounce
or cash loss
- Online payment ensures a
quick, safe and a secure way to transfer money to your community.
- Choosing option of credit
cards, debit cards and net banking services.
- CF security ensures safety
and security for your online money transfers
- Once the payment is done,
the customer can create an invoice in the CommonFloor application.
How to
create an invoice?
- Login to CommonFloor
- Click on the tab Manage>
Maintenance Dues
- Click in Create Invoice
- Type of Invoice – One time
or Recurring
- Set the Duration
- Select Period if Invoice for
Recurring (Monthly, Quarterly, Half yearly, Yearly)
- Set the last payment date
- Apply Grace period &
penalty if applicable
- Set Subsequent Invoice
generation and due dates
- Set how maintenance is going
to be charged
- Enter the amount
- Select how and when to
notify
- Give a name/Title for the
invoice
- Apply the charges
- Invoice is generated
- Click on approve to approve
the invoice
- Invoice is generated by
admin for one-time Invoice or Maintenance dues recurring Invoice
- Maintenance dues recurring
Invoice gets generated automatically every month or time set by admin
- Recurring invoices will be
reminded for admin approval, before they go live.
- Notifies members on invoice
generation/due date
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need a property at any location we will help you to provide by opening
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