ApnaComplex offers comprehensive accounting features that helps residential apartment and commercial complexes manage their financial matters Easily, Efficiently, and Effectively.
Behind the deceptively simple user interface of ApnaComplex, a full-fledged double-entry accounting system is present, hiding all the jargon and complexities involved in maintaining accounts for residential apartment and commercial complexes.
This article provides a very high level overview of the accounting modules offered by ApnaComplex. We intend to expand on each module in greater depth in future posts.
The accounting features of ApnaComplex can broadly be classified into following five modules.
- Member Income: Administrators / Association Treasurers can generate invoices for each flat/unit for charges such as maintenance dues, late payment penalties, club house usage, corpus fund etc. Members can record their payments against the invoices. Administrators can approve / reject the payments and issue instant receipts for approved payments. Administrators / Treasurers can even club multiple charges to generate single invoice. Email/SMS notifications sent to relevant members when a new invoice is raised or payment is made.
- Non-Member Income: Administrators / Association Treasurers can record additional income that a complex receives – such as rentals for stalls/cell towers/hoardings/banners, bank interest charges etc.
- Expense Tracker: Administrators / Association Treasurers can record all expenses that are made by the association/complex owners under different heads such as maintenance expenses, legal, taxes, admin etc. Capture details such as expense date, how the expense was paid, to whom was the payment made, if invoice/receipt was available for the payment etc along with the expense amount. Administrators can generate expense statements for various heads and analyze the trends, publish the statement to noticeboard.
- Cash & Bank Accounts: This is a module that administrators / treasurers will love. Administrators / Association Treasurers can set up Petty Cash and Bank Accounts in ApnaComplex. Once set up, all member income, non-member income, expenses that are recorded in other modules mentioned above are automatically integrated with the cash & bank accounts. This helps administrators see the cash and bank balances up-to date in real time. The financial status is literally at your finger tips. Administrators can reconcile the bank account statements in ApnaComplex with their real world bank account and easily identify transactions that are out of sync.
- Financial Reports: This module provides several financial reports such as “My Statement” for members (apartment owners / tenants) to see a consolidated financial statement for all the flats/units they own, defaulters reports, list of charges, payments, income/expense report, petty cash & bank account statements. You can do slicing and dicing of data to get more inference. All statements can be downloaded into excel at anytime by the administrator for offline storage or analysis or to send to your auditor.
With all these features, we sure guess that the accounting and auditing requirements of any apartment or commerical complex are met to the tune of 90-95% .
Now, the icing on the cake of such rich feature set – you need NOT pay a premium to use accounting capabilities of ApnaComplex. Contact us for pricing with your complex details and we will get back to you with a quotation at the earliest. Meanwhile, go ahead and register your complex and enjoy a no-obligation 30-day free trial.