go cashless

6 Reasons Why A Cashless Society Is Here To Stay

With the new cashless wave gaining momentum in India, societies all over are adopting various ways of doing their bit to forward this initiative. Here’s why everyone should go cashless starting from today –

 

(Firstly, to avoid this…)

go cashless

 

  • Track dues and payments automatically

Now, Indians will make payments for most purchases/liabilities online. Automatic withdrawal and payment from connected accounts are also an option. So, there are no dues pending at the end of every month and that gets ticked off your to-do list instantly, without even having to make a confirmation.

go cashless

 

  • Cloud-based auto sync in real-time

All transactions are updated in books online and accounts are kept up-to-date after every transaction. Even people not so good at math will like this number game. Going cashless isn’t so bad after all.

go cashless

 

  • No long queues to wait around in

Queues that move quickly are a crowd favourite. A place where personal presence is optional is looked forward to by everyone, not just by introverts. Anyone who can’t be at a particular place at a specific time would appreciate such a development.

go cashless

 

  • Countrywide acceptance of this stance

This line of thinking will be eventually accepted and put into practice all over the nation. So, purchasing most things gets easier when done directly using an e-account.

go cashless

 

  • Chances of robbery & theft are low

When there isn’t enough to rob, why would someone painstakingly make the effort to break in and steal? Travelling outstation also gets easier since staying connected with your funds becomes more flexible. This is a great move for tourists looking forward to exploring our country.

go cashless

 

  • You can’t get lazier than swiping a card / pre-storing payment details just ONCE!

There will be no such thing as overusing your card, especially during difficult times. Swipe it for a purchase and you’re good to go. No more hunting for change in your pocket / wallet / bag / other nooks and crannies they managed to slip into. Added bonus: It just adds to your laziness. Now, who would want to go against that?

go cashless

 

But, a move like this cannot be taken for granted. Regular monitoring of one’s own funds is the primary reason for this move to be able to thrive. You can check your account details online without the hassle of visiting the bank by visiting the website provided by it instead. The web and mobile applications made available by banks equip you with another option to go cashless.

 

Let’s make a conscious and informed effort towards having a cashless society.

 

Going cashless in your society is easy with Collection Gateway by ApnaComplex. Try it here. Go cashless today!

Money Management In A Housing Society – Collecting And Handling Money For Events

There are many things that you can learn during your time in a housing society, and money management is one of these. You’ll face situations where you may have to organize and manage money for any events in the housing society or other important functions.

Money Management in a Housing Society

Money Management in a Housing Society

Tips For Effective Money Management when Organizing Events

  • Inform The Association – When you plan on taking up some responsibility in a housing society, you should always inform the association first. This way everyone will have a clear cut idea on what you’re up to, and they’ll also be able to help you out in certain areas.
  • Form A Team – There’s nothing that you can achieve individually, because managing large amounts of money alone can be very hard. Form a good team of enthusiastic people preferably with who are experienced at managing money. Your team can have at least three to five members to make things easier.
  • Divide All Responsibilities – This is the best way to avoid chaos and confusion. If you’re collecting money for an event, assign the task of collecting all money to two or three persons. Use one member in the team as a treasurer, so that he/she can safely store the money. You can get the rest of the members to maintain logs and records of where the money has come in from, and how much is the overall value. People should be entirely responsible for their tasks, as this will bring in some professionalism.
  • Inform People In Advance – Nobody likes being rudely interrupted during their day, so inform all residents in advance that you’ll be collecting money from them for the said event. You can post on your online noticeboard and get a couple of notices printed out about the event and pin these up at the notice board. You can even use your apartment management software to broadcast a message to all residents, so that they know what’s going on. Decide beforehand on whether you’re looking to collect checks or cash and follow a standard format. You can even provide acknowledgement receipts for all received amounts.
  • Use A Bank Account/Save It Personally – You can save the collected amount in two ways – you can either use a bank account to save the money in, or you can physically have it with you or entrust the money to another team member. You’ll need to ensure that the money doesn’t fall to any form of unnecessary use and keep a firm grip over the proceedings once the money is in.
  • Track Down Expenditure – List out everything you’ll need for the event and create an estimate on how much you’ll be spending. You can try a few cost cutting measures if you find that you’re low on funds.
  • Bring In Transparency – The entire process should be made transparent, as money matters are always controversial. Coordinate with key members in the managing society and keep them in the loop on what you’re doing. Show them your estimates and the collected amount, and they’ll be able to help you manage the money in a better manner. 

ApnaComplex is a web based housing society accounting and management software. It is designed to make the life of residents and owners a lot better by brining in more transaparency and accountability in manging a housing society. Sign up your society today and get the benefits!


This article aims at collating and providing information for benefit of ApnaComplex customers and blog readers. While ApnaComplex has taken every care to ensure the information is accurate, we suggest to please use it only as a guidance for further discussion and action with help of relevant professionals.