Accounting is one of the vital and most critical functions for every gated community. With residents ranging from hundreds to thousands, community accountants have to keep a track of payments and the myriad expenses of running a housing society. They must also ensure that each expense is recorded and accounted for. ApnaComplex accounting offers an easy-to-use solution that does not require any special expertise.
The comprehensive accounting module is specially designed for gated communities. The GST-compliant society billing and accounting module automates many of the routine functions, providing instant access to more than 100+ reports. It also helps in tracking expenses while facilitating digital payments and collections.
Benefits of ApnaComplex Accounting
Automate billing & collections: Completely automate the monthly task of raising and sending maintenance invoices on a set date. The amount can be fixed or based on formulae. This removes the tedious and repetitive task of calculating and sending maintenance invoices every month. Read more about our automated solutions here.
Dealing with defaulters: Even with the best of efforts, every housing society ends up with some defaulters. This includes both intentional and unintentional non-payers. Hence, the accounting team is always focused on reducing the number of defaulters. With ApnaComplex accounting module, you encourage on-time payments through timely reminders and notifications. It also ensures that defaulters face penalties through the auto-inclusion of late charges. Finally, members can access defaulters’ reports on a monthly or weekly basis for accurate insight. Read our article on Managing Late Payments & Maximise Collections.
Make payments easy: In the current digital era, residents must have access to digital payment solutions. ApnaComplex offers quick and easy access to different options, including net banking, card payment, and NEFT transfers. Digital gateways promote ease of payments, improving accountability and on-time collections. Read our article on Why Digital Payments form the Backbone of Property Management.
Track expenses: It can be tricky to keep track of every expense in a gated community. Every spending, from a lightbulb to lift repairs, has to be accounted for. ApnaComplex offers an automated expense tracker where you can easily segregate spending, configure bank accounts, and reconcile the society accounts. Read this article to better understand Why you Need Automated Expense Tracking.
Establishing best accounting practices
One of the biggest challenges in accounting is ensuring that the right practices are followed by everyone. This includes facility managers who have to report expenses like repairs. ApnaComplex accounting is easy-to-follow. This improves compliance. The instant access to financial reports also improves accountability, Read this article to know is how Management Committees can implement best accounting practices in gated communities.
Picking ApnaComplex over stand-alone accounting software
ApnaComplex accounting module is specially designed for community management. It is integrated with the award-winning ERP. Consequently, it offers several features for housing societies, unlike stand-alone accounting software. To know more details, read our article here.