The need for an Apartment Management Software and Apartment Accounting Software
Apartment Management Software:
Apartment management software is a web-based software for various apartment communities, villas and housing societies. This software enables to track income and expenses, communicate updates over mobile, email, SSL (Secure Sockets Layer) for managing the security of a message transmission on the internet. CommonFloor has one such software which is further divided into other applications which are helpful for an apartment management. One can get the complete information about the apartment management software by following the below link;
http://www.commonfloor.com/apartment-communities/
What are the uses of the apartment management software?
- Helps in complete accounting package for a typical housing society.
- Helps in accounting module as it is integrated with the member database. Henceforth reminders through email, SMS as well as e-receipts can be sent to the residents.
- One can generate and publish various reports such as cash flow report, expense trends etc.
- It reconciles bank accounts along with the balance sheet.
- It shares photos of a community event.
- Data privacy guaranteed.
- It is fully integrated with email and SMS.
- It saves effort for treasurers and auditors in an apartment society.
What are the key features of apartment management software?
- Member list
- Members and committees
- Asset maintenance tracker
- Role based access
- Maintenance accounting and dues
- Advance accounting tools
- Vendor list management
- Issues and complaints tracker
- Tally integration
- Event sponsorship module
- SMS announcement
- Stores and inventory management
- Useful articles for association and owners
- Free legal advice
- Property manager and staff access
Apartment accounting software:
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
How to Check your Dues & Payments?
- Logging In to CommonFloor
- Click on the Tab Help Desk> Dues & Payments
- Already paid offline, update the details
- Admin will be notified about the payment made
- Admin confirms the same & you will receive the receipts via email.
How can one make an online payment on CommonFloor?
- Logging In to CommonFloor
- Click on the tab Help Desk> Dues & Payments
- Select the Invoice
- Click Pay Online
- In 3 Simple Steps payment done
- Admin will be notified about the payment
- Admin confirms the same & you will receive the receipts via email.
How can one track a defaulter on the CommonFloor application?
- Admin can Login to Commonfloor
- Click Manage Tab > Maintain Dues
- It will show the Pending Dues per Block
- Clicking on the Block or Wing, Admin can see individual owner’s pending dues
How the CommonFloor accounting software helps the apartment association in maintaining the accounts of an apartment society clean?
- Helps to generate Invoice
- Issues & Complaints Tracker
- Advance Accounting Tools
- Property Manager & Staff Access
- Vendor List Management
- Send FREE SMS updates
How transparent is the income and expense tracker to all the residents in the community? What are the advantages?
- The income & expense details are available only to admin.
- Residents can see a Help desk Tab>dues & payments.
- The resident can see his outstanding dues.
