When we talk about Accounting for Apartment Associations or Housing Societies, its not just about ability to create maintenance charges, automate few manual steps such as penalty generation and defaulters notifications, issue receipts or even about entering bills and expenses – there’s more to become a “complete” end-to-end solution for Accounting.
If you are a treasurer, ask these questions yourself when considering an accounting software for your society:
– Should I still download data in excel or some other form to share it with my auditor when I use this software to track my maintenance charges and expenses?
– Should I/auditor upload/re-enter data into another accounting software (such as Tally) to be able to generate Balance Sheets and Profit/Loss Statements?
If the answer to either of the above questions is “Yes”, you deserve better software as you are just duplicating efforts (and money) and not using better options that are available at lesser cost.
If the answer is “No”, ask few more questions – this time from an auditor perspective
– Can the auditor define as many ledger accounts as deemed necessary under Assets, Liabilities, Revenues and Expenses (also referred as ability to define Chart of Accounts)?
– Can the auditor change the transactions already posted? For example, can a Purchase that was captured under Expenses be moved to Assets with out re-entering all data?
– Can the Auditor View Trial Balance of all ledgers and individual Statements of all Ledger Accounts?
– Can the Auditor print the entire set of ledgers along with detailed transaction statements?
– Can the Auditor Generate unadjusted Balance Sheets, do Adjustments and then generate a final balance sheet and print it?
There can be many more such questions to be asked – but you get the idea. If the answers to any of these questions is “No”, drop that software as these are critical aspects to be able to provide a “complete” accounting.
Needless to say, with ApnaComplex you can do all the above and much more. You can create an account for your auditor, give access to the auditor only to the necessary financial data (speaks volumes about our Role Based Access Capability and the seriousness we take data protection aspects, doesn’t it?) and entire accounting can be done including generation and printing of all financial statements right from ApnaComplex. Auditor can create ledger accounts or accounting heads, re-group transactions, do adjustments, update opening balances, view trial balances, print individual ledger account statements and lastly generate Balance Sheet and Income/Expenditure Statements.
Oh, by the way, we also support exporting of data just in case you still want to use other accounting software for your needs. More options in your hands.
Now, get rid of the need to exporting and importing all the data, and most importantly – switch to ApnaComplex, Save Money and have Peace of Mind.
ApnaComplex is a web based housing society accounting, management and communication software. It is designed to make the life of residents and owners a lot better by bringing in more transparency and accountability in managing a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits!