ApnaComplex Accounting Enhancement: Income head-wise Advance Payments
In the past..
ApnaComplex already has the following capability of recording Advance Payments (a.k.a Excess Payments) from Members: For example, consider a member having dues of Rs. 1800/-, but the member has made payment of Rs. 2000/-. In ApnaComplex you can record the additional Rs. 200/- as an Excess Payment. Now, when a new invoice for Rs. 500/- is raised for club house booking, the Rs. 200/- would automatically get adjusted against the new invoice.
What’s New with this Major Enhancement
ApnaComplex now supports recording of the excess payment against a particular charge type (a.k.a Income Head). With this ability, advance payments against a given charge type will only get auto-adjusted if there is a new charge/invoice against that particular charge type.
In the above example, when recording the excess payment of Rs. 200/- members and admin would have the ability to mention the 200/- to a particular charge type – say against Maintenance Charges. Now, when the next invoice of Rs. 500/- is raised against the flat for Club House Booking – the 200/- that is paid as an advance against Maintenance Charges would NOT get adjusted against the Rs. 500/-. However, when the new invoice for next maintenance charges is raised, the Rs. 200/- would be auto-adjusted.
Need for this change
There are quite a few apartments, where the owners pay the maintenance dues and tenants pay for charges like Club House etc. In most cases Owners pay the maintenance dues in advance for 6-months or an year. In such cases any facility booking by tenant or move-in/out charges should not get auto-adjusted with the advances paid and must be maintained separately. With this enhancement, Treasurers and accountants have greater control over the auto-adjustment.
Similarly the advance received towards a Corpus Fund will no more auto-adjusted against the Maintenance Due invoices.
The default behavior of excess payment will continue to be the earlier way of “Generic Advance Payment” which will auto-adjust the advance with new invoice of any income head. Similarly when the member payments are uploaded via excel, ApnaComplex will put any excess payments into Generic Advance Payment bucket itself, like earlier.
Want to ease your (or your Treasurer’s) burden? – Get on to ApnaComplex – Today!
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