Archives: June 30, 2015

ApnaComplex
June 30, 2015

Why ApnaComplex is more suitable for housing society accounting vis-à-vis stand-alone accounting software?

Stand-alone or offline accounting software have a history of being used predominantly for almost all accounting operations – both corporate and the housing societies. With time accountants/management associations handling the accounts of a housing society have realized that the accounting needs of a housing society are very different from the accounting requirements of a company.

Understanding this difference, housing societies have started adopting ApnaComplex, a mobile and web-based apartment management and accounting software designed especially for housing society accounting needs. In fact, ApnaComplex is that simple to use that it truly believes in and uses the tag line – “Who said Society Treasurers need to know Accounting?” The management committees of housing societies using ApnaComplex accounting software completely agree with this. ApnaComplex has helped them reduce their manual work and save costs in parallel.

Though both stand-alone accounting software and ApnaComplex offer some basic similar functionalities for managing accounting operations, there seems to be a huge difference in what they both offer to the end customer in terms of specific functionalities useful only for housing societies. Let’s look at some of the clear advantages of using ApnaComplex over stand-alone accounting software:

FunctionalityApnaComplex Accounting SoftwareOther Accounting Software
Ability to use the software anytime from anywheretick[1]cross[1]
Simple to use, even non-accountants can enter data tick[1]cross[1]
Easy to understand and pull out required reportstick[1]cross[1]
Provides periodic training to accountants to keep them up-to-datetick[1]cross[1]
Offers online services with self- service optionstick[1]cross[1]
Integrated with emails, SMS and online paymentstick[1]cross[1]
Provides flat-wise account statementtick[1]cross[1]
Offers readymade flat-wise, head-wise sub-ledgertick[1]cross[1]
Automates unit-wise due generation tick[1]cross[1]
Automates maintenance payment reminderstick[1]cross[1]
Automates calculation of late payment interesttick[1]cross[1]
Online Payment facility with automatic updation of all bookstick[1]cross[1]
Net banking facility for members and option to pay by credit or debit cardtick[1]cross[1]
Distribution of invoices/receipts as PDF files through emails, summary through SMStick[1]cross[1]
Automates allocation of collection to invoicestick[1]cross[1]
Create Purchase Request & Approval Workflow tick[1]cross[1]
Ability to download invoices of all units in one PDF file for printingtick[1]cross[1]
Option to mark and leave out units that don’t require hard copies while printing invoices – Save trees! tick[1]cross[1]
Provision to share accounting due status with maintenance staff rendering services to easily enforce no service for defaulters tick[1]cross[1]
Automatic head wise ledger for each unit with the system doing the heavy liftingtick[1]cross[1]
Generate one click balance sheet, income expense statement and trial balance. tick[1]cross[1]
Reports can be scheduled to be emailed to desired people on a defined frequency tick[1]cross[1]

The above functionalities clearly exhibit how ApnaComplex is more suitable for housing society accounting in comparison to stand-alone accounting software. However, there are some common functionalities that both ApnaComplex and stand-alone accounting software offer mentioned below:

  • Facility to export the entire accounts data to excel.
  • Generate expense/income statements and final balance sheets.
  • Record cash expenses entries and generate payment vouchers.
  • Reconcile bank account statements.
  • Make journal entries.

Stand-alone accounting software are useful when it comes to corporate accounting but management associations of a housing society need a software, which is custom-built for them. ApnaComplex realizes this need and is attempting its level best to help management associations achieve their aim of becoming not just any committee but an “effective management committee.”

ApnaComplex – Better Apartment Management. Guaranteed.   

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ApnaComplex
June 24, 2015

Why Chartered Accountants prefer ApnaComplex for housing society accounting?

Chartered AccountantsPresently, the number of apartment complexes in India is growing exponentially. With the growing number of apartment sizes, management committees are looking for some active help from chartered accountants or auditing firms to manage their accounting operations. This scenario offers a huge potential to accountants to grow their business.

Earlier, chartered accountants were using offline software like Tally etc. to manage the accounting operations of housing societies, which made it hard for them to manage multiple housing societies all at the same time. With the growing housing society accounting requirements, accountants have felt the need for a software that helps them reduce their manual work and allows them to login and work from anywhere and everywhere reducing their travel time.

ApnaComplex, a mobile and web-based apartment management and accounting software is a one-stop-solution for all housing society requirements. The software is now increasingly being trusted by chartered accountants (CAs) across India as their technology partner for offering premium service. In this digital era, CAs have quickly understood that by adopting ApnaComplex they can achieve multi-fold growth in their business along with reducing their manual work.

Top reasons why Chartered Accountants prefer ApnaComplex over other software:

• Best accounting software across India – ApnaComplex offers online services, with self- service options, integrated with emails, SMS and online payments providing a clear edge over other players.
• Helps in saving costs – The accounting software helps in reducing society accounting work effort drastically and automates a lot of accounting processes. Even non-accountants can be employed for data-entry and the self-service option for residents in the software really helps.
• Supports in growing business – Not only do the accountants use ApnaComplex for their existing customers but also acquire customers referred by ApnaComplex. As a result, the customer base of accountants grows in size.
• Offers convenience to work from anywhere and everywhere – ApnaComplex accounting software enables accountants to enter and access data from anywhere. One does not need to carry all data to a centralized location. Moreover, multiple people can work on entering data of same society in parallel further speeding up the work.
• Provides training and support – ApnaComplex offers regular training and support to the CAs on the product and conducts periodic refresher courses, which makes it very simple for the accountants to quickly become a pro in using the software.

Why ApnaComplex accounting software is found to be especially designed for housing society accounting?

ApnaComplex automates the following housing society requirements for the accountants and management associations, making their work way easier:

• Offers readymade flat-wise, head-wise sub-ledger
• Automates unit-wise due generation (Automated Maintenance Payment Reminders – Online Payment facility with automatic updation of all books)
• Provides flat-wise account statement (Distribution of invoices/receipts as PDF files through emails, summary through SMS)
• Automates calculation of late payment interest
• Automates allocation of collection to invoices
• Generates reports

Why as a Chartered Accountant you should partner with ApnaComplex if you still haven’t done it?

Opportunity to acquire new business – With the growing number of apartment complexes adopting ApnaComplex certainly increases your scope to expand your business.
Increase Customer Satisfaction – By partnering with ApnaComplex, you definitely get happier customers as you are empowered to offer smart accounting services with minimal errors always on time.
Gain Competitive Advantage – You can offer the best-in class value add services, which is unmatched in the market to your customers by collaborating with ApnaComplex.
Save on costs – ApnaComplex helps you reduce your manual efforts and even use unskilled workforce to operate the software. Yes, it’s that simple to use! It helps you reduce your costs drastically.

So, partner with ApnaComplex today to create synergy and get powered with technology to offer superior accounting services and maximize your revenue.

Don’t just be a complex, be a smart apartment complex. Get your Society on ApnaComplex.com – Today for free!

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ApnaComplex
June 17, 2015

Bangalore residents may have to bear property tax on common areas

common aptBBMP (Bruhat Bangalore Mahanagara Palike) has proposed a plan to charge property tax on the common areas in commercial and apartment complexes. The common areas will include all facilities such as playground, parking space, garden, gym, pool or lobby. As a result, it really doesn’t matter if the common area is owned by an individual or an apartment association, the owner has to pay the tax.
BBMP is expected to start charging this tax only after one or two years as it wants to conduct an extensive survey of properties in Bangalore.The agency is expecting at least a 30% hike in its revenue stream with this drive.
Sources from BBMP revealed that even club houses will be treated as any other commercial building and will be taxed in the same manner the way any supermarket or a mall is charged for property tax.
It has come to BBMP’s notice that presently apartment owners are paying property tax only based on carpet area (actual usable area) and not paying any tax for the common areas.BBMP expects a significant boost in its revenue stream if the proposed plan is approved and the residents start paying for common area as well.
The apartment owners are not taking this proposed plan well. An apartment owner from Sarjapur revealed – “Why should I pay additional property tax on common area? I am already being burdened with apartment maintenance charges and property tax on carpet area. BBMP should think of the resident welfare before proposing such plans”.

BBMP is currently also studying how the tax on common areas is being charged in other metropolitan cities, sources added.

From your kids playing in the park to you working out in the gym , everything just may get attached with a higher price!

Source: Deccan Herald 

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ApnaComplex
June 17, 2015

Code of Conduct for Management Committee Members of a Housing Society

Management CommitteeManagement Committee (MC) of a housing society/apartment complex is essentially the backbone of an apartment complex. The activities performed by the managing committee members determines the residents’ quality of life up to a great extent. The committee members shoulder a great responsibility to offer a superior experience to residents staying in an apartment. For smooth operations of an apartment and to fulfill one’s responsibility as a management committee member, a certain code of conduct needs to be followed.

Most people take up the job of a management committee member more as a voluntary service for their apartment. Moreover, there is no formal induction done for easing the first-time committee members into the job. The code of conduct given below will help all existing and newly formed management committee set a standard and a certain level of expectations among all committee members.

General Code of Conduct:

As a management committee member of a housing society, these are the general code of conduct that needs to be followed:

Act with Integrity and Honesty  

  • Transparency and openness in apartment dealings is essential
  • Never misuse your MC position and power. Use it responsibly
  • Earn and sustain housing society’s trust

Execute with Thoroughness & Due Care in Financial Operations

  • Ensure availability of relevant information
  • Make adequate enquiries
  • Understand strategic, financial & other decisions implications

Put Society’s Best Interest Forward

  • Be accountable for actions taken by you
  • Take responsibility for your decisions
  • Activities that bring disrepute to the society should be avoided

Act Impartially, Fairly and in Good Faith 

  • Self-interest, impulse, discrimination and bias should be avoided
  • Act in a polite manner and be respectful towards others

Appropriate Information Usage 

  • Information collected as a committee member is expected to be used in a proper manner. The right discretion should be used while disclosing or keeping a particular piece of information confidential.
  • Comply with privacy obligations in dealing with any kind of personal information you gain as a management committee member.

 Use your Managing Committee Member Position Appropriately 

  • Never take undue advantage of your managing committee member position for yourself, friends or family.
  • Never use your position for causing damage to Society.
  • Decline favors or gifts that may influence your independent judgement as a managing committee member.

Compliance with Society Byelaws

  • Go through Society byelaws carefully and adhere to the society rules.
  • Understand the jurisdiction of the power given to you and act accordingly.

Code of Conduct for Management Committee Meetings:

The single measurement unit of how effective a management committee is the number of meetings a committee conducts in a year to discuss the welfare of an apartment and residents. The ideal number of meetings that an apartment committee should conduct is expected to at least be somewhere in between 50-54 meetings in a year.

However, very few apartment management committees meet in a regularly and orderly fashion. Most of the apartment meetings get cancelled frequently. If they do happen, they never start or end on time.  Some of the ground rules given below should help and most of these would work and be helpful for management committee of any apartment size: 

  • Try to attend every meeting.
  • Give advance notice to President/Chairman in case you are unable to attend meeting.
  • Come prepared for the meeting – read agenda, emails or any important documents.
  • Switch off your mobile phone during the meeting.
  • Respect difference of opinion during the meeting and always respect others decisions.
  • Speak politely and do not indulge in heated arguments.
  • Engage in constructive and healthy discussions.
  • Accept any decisions that win majority votes even if you personally disagree with the same.
  • Speak only when it’s your turn and listen carefully when others speak.
  • Treat other management committee members with respect and ensure no behavior should be interpreted as bullying, harassment or discrimination.
  • Make positive contributions to discussions.
  • Avoid long speeches and be concise.
  • Always be respectful towards the committee chair and adhere to the ruling provided by the same.

Code of Conduct while dealing with Society employees or Contractors:

  • Treat vendors and staff of the society with respect.
  • In case, as a management committee member you have a concern about conduct of any staff member, you should contact relevant management committee member in-charge and try to informally resolve the problem.
  • Put up formal complaints at MC meetings instead of getting involved in heated arguments with staff.

 Try to follow the above mentioned code of conduct and put society’s best interest forward for contributing significantly in building a healthy community.

Don’t just be a complex, be a smart apartment complex. Get your Society on ApnaComplex.com – Today for free!

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ApnaComplex
June 6, 2015

Network issues [Resolved]

Our website is not reachable due to a sudden network issue at our providers end. We apologize for this unscheduled down time. We are working with our provider to resolve this issue and bring up the site for you at the earliest. We apologize for the inconvenience being caused to you. We will update here as soon as the issue is resolved.

Update: The issue is resolved and the site is up and running now.

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ApnaComplex
June 1, 2015

Plan your power cuts this summer!

Power CutHow many times does the power cut happen just when you are planning to do some important work? Earlier, all one could do was wish that someone would have given prior information before the power cut so that one could plan accordingly.

Noida Power Company Limited (NPCL) is making this wish come true for Noida residents who have now almost resigned to the erratic and long power cuts in the city. For making the situation better, NPCL has decided to send SMS alerts before every power cut. The SMS will be sent out irrespective of any power failure reason. So, whether the power is cut due to distribution transformer breakdown, supply shortage, maintenance work or fault in transmission wires SMS will be sent out compulsorily.

NPCL holding franchise for distributing power in Noida and Greater Noida will now send text messages before every power cut. However, the text messages will not be sent directly to the residents. The Resident Welfare Associations (RWA) officials of various sectors in Noida region will receive the messages, who will then forward it to the residents.

RWA officials of different sectors had demanded this facility of prior information to be given before power cuts due to frequent power cuts and rising temperature. Some of the common problems that the RWAs were facing due to power cuts was shortage of water since one cannot run water pumps with inverter. If one knows in advance that there will be a power cut of 4 hours in the peak morning hours, one can be prepared and fill in all the required water tanks in the evening so that there is no problem in the morning. Secondly, for the apartments that use generators with diesel for providing 24*7 back-up power facility to residents, can ensure that there is enough diesel in stock for running the generator continuously. Such small measures can really give comfort to the residents.

So, from now on Noida residents can plan their power cuts. Students can finish their homework and studies before the light goes out. Ladies can complete their cooking and housework before the power cut. People carrying official work home can spend extra hours in office based on the power cut schedule. When the residents know there is going to be a power cut in advance, everyone can finish their priority work in advance and no one has to make do with slow running fan of an inverter.

Now enjoy your power cuts by going to an AC mall or plan your day in office based on the power cuts because this summer NPCL just reduced your power cut heartburn by at least 30% by sending the text messages with power cut information in advance.

This initiative is a very good initiative taken up by the Noida RWA. The same initiative should be replicated in other cities as well.

Source: Times of India

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