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May 4, 2022

10 things to consider before evaluating balance sheet

If you are a Secretary, President, or the Treasurer of a gated community, terms like maintenance dues, late payment charges, reconciliation of the balance sheet are a part of your everyday job.

For a society to run smoothly, maintenance dues have to be paid on time, the accounting has to be precise, and the treasurer must have clear insights on the society’s income and expenses.

However, not every treasurer or secretary comes from an accounting background and for this very reason, ApnaComplex offers a robust, fully automated accounting and billing solution with 100+ financial reports and 30+ audit-ready reports.

When the time comes to reconcile or evaluate a balance sheet, the Treasurer must consider various aspects and pay attention to a handful of factors before evaluating the balance sheet and submitting for audit.

Keep reading to learn about these essential factors and why they can never be overlooked!

Fixed Asset Verification

A Treasurer must ensure that whatever fixed assets physically available in the society’s premises, must reflect on the balance sheet as well. This will help the treasurer keep note of the available assets, depreciated value, etc.

Outstanding receivable confirmation

All outstanding amounts, including maintenance charges, vendor payments, service charge dues, etc are received and updated on the balance sheet. Failing to add even a negligible amount can cause confusion and discrepancies which will cause trouble to the Management Committee during the time of auditing.

Bank Reconciliation

The treasurer must ensure that the bank balance reflecting on the account and bank statement/balance sheet are the same. If it doesn’t match, the treasurer must spend eons of time figuring why the statement and balance doesn’t match and must fix it before auditing.

Thankfully, with ApnaComplex, a treasurer doesn’t have to worry about this, for the solution auto-reconciles the balance sheet. It also gives the comprehensive details of overdue, advance payments, late payment charges, etc, saving a treasurer’s time by more than 80%.

Vendor Payments

Vendor payments, including any loans or advance payments made to or received from vendors, have to be cross checked and recorded along with the date and vendor details. The treasurer must also keep a copy for all the invoices and receipts for future references.

The ApnaComplex system, enables the treasurer to auto-generate receipts and invoices, and maintain digital repository of the same.

Vendor Payable Reconciliation

Payments made to vendors must be recorded and reflected on the bank account and bank statement.

Corpus Fund and Sinking Fund

The Treasurer must confirm that the Corpus Fund (capital amount, or the money provided by the builder to RWA during the formation of RWA), and the Sinking Fund (emergency money) are untouched. They should also ensure that the money in the bank and the amount reflected on the balance sheet/statement are the same.

Fixed deposit and interest

The Treasurer must confirm the money fixed deposit and the interest it generates. It should match the bank statement.

Year ending provision

Any provision such as security services, electricity charges, equipment maintenance services that happened before March has to be incorporated in the provision and reflected on the balance sheet.

Refundable Deposit and Advances

The Treasurer must also confirm the Refundable deposits (if any) and advance payments.

Statutory Payment payable and Compliances

The Treasurer must make sure that the TDS payments, GST payments, ITR payments, etc are done and all the relevant forms are filled and submitted.

We hope you find these quite useful! ApnaComplex’s accounting solution is the only fully-mature solution made for and by gated communities available today. It is GST compliant and fully automated. If you would love to simplify your society’s accounting processes and save your time and energy, visit apnacomplex.com

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apnacomplexnitin
February 25, 2022

Here’s how boom barriers can secure your gated community!

Effectively managing a community’s gate is quite a task indeed. Large communities that are in the middle of bustling streets always have visitors and residents entering and exiting the community. Given this, an impeccable security system must be in place to track every visitor and vehicle entering the building.

ApnaComplex’s Gatekeeper/Gate Management solution will certainly provide all the security you ask for, nevertheless, deploying tools that leverage the best of technology in addition to ApnaComplex will give the perfect security solution your society deserves.

In this article, we share the importance of installing boom barriers in gated communities and how they can effectively help keep track of visitors/vehicles entering and leaving the society.

Understanding Boom Barriers

While visiting some societies or a mall, you would have noticed a horizontal bar (usually in red and white) moving up and down to allow/deny vehicles after issuing or collecting parking tickets. That is exactly a boom barrier.

This device is used solely to control and regulate pedestrian and vehicular movement and offers additional security to the premises. Of late, boom barriers are integrated with gated communities as well.

The increasing demand for boom barriers among housing societies

Societies today want to secure their premises absolutely and having boom barriers and RFID (Radio Frequency Identification) vehicle tags allows them to keep track of vehicles and visitors entering and leaving the building.

Since the functioning of a boom barrier is automated and it can efficiently track vehicle and visitor entry and parking, it is one of the best tools to deploy for foolproof visitor and gate management.

In the long run, boom barriers are cost-efficient, can be effortlessly maintained and operated, and are the best solution for managing visitors and vehicles inside gated communities.

Benefits of having a boom barrier inside societies

Below, we are sharing a handful of benefits of installing a boom barrier.

Approved entries only

With boom barriers in place, only vehicles that have RFID tags provided by the society can enter the building and have access to the gate. Vehicles that do not have RFID tags will be denied entry, at least, until they have authorised approval. This makes boom barriers a very effective tool in curbing the entry of unauthorised vehicles.

Entry and exit of vehicles automated

Boom barriers are automated and the vehicles entering a society are pre-approved, thereby making monitoring of vehicles an effortless task. Residents’ and visitors’ vehicles are differentiated, for the latters’ vehicles are approved manually after taking permission from the residents. This directly adds additional security to a society.

Contactless entry

Boom barriers pave the way for contactless vehicle approval which can be a great benefit, especially in this world post-COVID. The system automatically collects details of the vehicles entering and the approvals are done digitally ensuring that there is no need for the security to be in close proximity to the vehicle unless absolutely necessary. Here, boom barriers not only add security but also ensure that there is very minimal contact between staff and visitors.

Fool-proof security checks

Boom barriers offer the highest level of gate security a society can ask for since they are operated via biometric sensors, remote controls, and/or push buttons. This technology prevents impostors from breaking in, and the digitally-integrated system offers efficient entry and exit security checks.

Cost-effective

Boom barriers are now becoming popular among the residents of gated communities, developers, and gated community management systems for their fool-proof security. They can cost between ₹40,000 to ₹60,000, and the installation can go up to ₹90,000.

For larger societies that see considerable traffic and footfall, boom barriers will come in handy in controlling vehicle movement and the overall cost is also negligible if we see it in the long run.

ApnaComplex and boom barrier integration

Residents’ safety, security, and privacy are of utmost importance to ApnaComplex and we do everything in our power to ensure that. Our system is integrated with boom barriers enabled by RFID and can effortlessly be installed in your society for effective gate management.

To have this technology installed and to simplify your society’s management, visit apnacomplex.com or schedule a free demo

Security Guard Patrol Tracking – India’s First App based Patrol tracking solution for Apartment Societies.

Security Guard Patrolling within the Apartment Society is probably the most important daily routine that keeps your Apartment Society secure at night. Unfortunately, Guard Patrol is also one of the processes that is not tracked with rigor it deserves. Most societies don’t know if the Security Guard Patrol is happening as per schedule or if the patrol is covering all nooks and corners of your Apartment Society.

But no one can be blamed for this situation. The alternative involved spending an inordinate amount of money on security infrastructure, until now. With the launch of Guard Patrol tracking, ApnaComplex has changed the game.

Security Guard Patrol is our latest innovative solution that just uses Geo-tagged QR Codes and our App to give the bulletproof security to your Apartment Society. Your residents don’t have to spend a single penny of their hard-earned money on infrastructure or software as Guard Patrol tracking is already part of your ApnaComplex Subscription. You can set-up guard patrol tracking in your society right away.

Here’s how it Works:

In just a few clicks, define the patrol route and checkpoints inside your Apartment Society covering all the risky areas.
Each checkpoint is geo-tagged. This ensures the guard actually covers that location and checks in.
Your guards can simply check-in by scanning a QR Code or tapping an NFC Card or using any of your existing security systems.
You will also get a detailed automated report with an accurate record of all patrols inside your Apartment Society.

If you are an existing ApnaComplex Customer, please refer our self-help guide to setup patrol tracking in your Society today or go through our Youtube video attached here. If you don’t already have ApnaComplex, it’s high time you schedule a demo with our experts here. We have a lot more similar innovations in store to make Living in Apartment Society, a pleasant and convenient experience for residents, committee members, and security guards.

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apnacomplexnitin
March 8, 2019

Women’s Day Special: Exclusive interview with Super Women at ApnaComplex

International Women’s Day is no longer a new topic today. It is celebrated across the World in order to recognize and appreciate the contributions and achievements of the women in various fields. Starting from being Home-maker to Management Committee members to Working Professionals, they truly define the spirit of today’s women. Today, we decided to talk to three such women about their journey in ApnaComplex and how they are leading their lives with multiple roles and responsibilities.

These women are super confident and self-motivated either at home or at the workplace. Mrs. Prema Robert, Head of Human Resource at ApnaComplex quoted that “Confidence comes from the kind of responsibilities that I get it, more the responsibility that is given to me, the more I feel confident and that makes me explore more, learn more and motivates me to give my best.” Mrs. Arundhati Sen Pradhan, Head of Strategic Partnerships at ApnaComplex states “Motivation comes from the team that I work with, the people that I work with, gives me the motivation to do best in what I do”.

They mentioned that it has been a great journey so far and it is fun working at ApnaComplex. It is quite an experience for anyone to manage multiple roles. Ms. Monika Mitruka, Software Developer at ApnaComplex finds the experience ‘’very challenging and satisfactory.” They also mentioned that the key to confidence is knowledge & learning. These women feel privileged being women as they feel that they have the ability to handle both work and family life.

At ApnaComplex, they all have built stronger social connections amongst themselves. They advised that everyone has her own way of doing things and everyone should have belief in themselves first. Mrs. Arundhati concluded as “It is a very fun life, live to the fullest.” At ApnaComplex, people are full of enthusiasm, confidence and most importantly motivated to face all the odds. Moreover, accomplishing these odds has always been a challenging situation for these women.

Raj Sekhar Kommu – Co-founder and CEO of ApnaComplex says “We are pleased to celebrate International Women’s Day with all the amazing superwomen at ApnaComplex. International Women’s Day is celebrated globally to highlight and honor the social, economic, cultural and political achievements of women, and to call for gender equality. At ApnaComplex, we firmly believe in gender equality and are forever grateful to every female employee who is an integral part of ApnaComplex.”

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apnacomplexnitin
January 23, 2019

Responsibilities of the Resident: A Proactive Approach

Managing the affairs of an apartment complex is not just the responsibility of the Managing Committee. Surprised? Don’t be. Just as the quality of your family life depends on the behaviour of all members of the family, in the same way managing a society depends on the behaviour of all the residents living in that apartment complex. How you interact with the committee and the rest of the residents has an effect on the management of the society. We have listed below a few such interactions which can decide how well your society functions.

Breach of bye-laws

In an apartment complex, it is quite common for a resident to lock horns with a member of the managing committee. Most often, resolutions arrive amicably. But when they aren’t, the residents often retaliate by ceasing to pay maintenance dues. Residents should remember that this is a breach of the bye-law and hence, illegal.

If, as a resident, you are unsatisfied with the resolution, escalate this issue with the appropriate authority. Alternately, if it is an issue that affects all the other residents then take their opinions into account and put it to vote. Withholding dues you owe the society affects the smooth functioning of the society. You may end up with a shortage of funds. Further, the committee is legally authorised to issue notices against defaulters and to penalise you for the same.

Unauthorized constructions

The action of every resident has an effect on all the residing neighbours. This becomes especially evident during renovations and constructions. Whether you change the interior or the exterior of your flat, make sure that your plans don’t break any rules of the society. Get the consent of the Secretary of the Managing Committee before you begin and make sure you don’t become a nuisance by exceeding the noise to respectable hours.

Certain changes like altering the fundamental structure of the building and construction in common areas require special legal permission. If you fail to obtain the same, the committee (and even the municipal council) is entitled to take action against the same. Lastly, remember that if not conveyed, other residents are well within their rights to complain against the construction to seek redressal.

Favours from the Managing Committee

As longtime neighbours, you might be close friends with certain members of the committee. So sometimes, you may find yourself asking for favours like waiving off the penalty charge for late payment or reducing the rent charged for the clubhouse. Not only is this unfair to rest of the complex, but it also puts your friend in a dilemma. It puts them to choose between friendship and their duty.

Participation in society meetings and elections

As a resident, it is both your right and duty to contribute to the functioning of the society. Despite personal commitments, it is important that residents attend society meetings and elections. The decisions and opinions expressed here will have a direct effect on your life in the complex. It is also important that you express your opinions about an idea that is being discussed. There is no point in complaining about a decision taken during the meeting you missed. It is important to work with both the committee members and other residents to make sure that the complex runs efficiently.

The role of a resident extends beyond the payment of maintenance dues. These are just a few areas in which the behaviour of the members can decide how efficiently an apartment complex gets managed. We hope you are playing a proactive role in the affairs of your apartment complex – whether you are a part of the Managing Committee or not!

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apnacomplexnitin
January 9, 2019

Standard Domestic Help Rates: Can it be Achieved?

Domestic help/maids have now become a necessity for almost all households in India. Presently, with the average citizen working in the 9-5 shift or more, basic household chores need to be taken care of. It becomes essential that you hire the right person for all these activities that affect your day-to-day lives.

Some of the cities such as Delhi, Bangalore, Mumbai and Hyderabad have several high-rise apartments with 700+ people residing in the same. The amount of domestic help available in such apartments should also be abundant? But this is not the case and the simple rule of economics that demand generates supply fails here. Finding domestic help is not easy irrespective of where you stay or how much you can pay. Sooner or later you do go through the pain of finding the right domestic help and retaining the same. Essentially, the story remains the same whether you reside in a big apartment or small: demands by the domestic staff for salary hikes are too frequent and largely unaffordable.

How can you tackle this problem?

Tips to standardise domestic help rates:

Prepare a rate card for all the household activities and ask residents to pay only that much.
Every maid needs to carry a No-objection-certificate from her previous employer so that the prospective employer ensures she/he is not switching jobs for money.
Residents are requested not to deviate from the rate card.
Any domestic help asking for more than the agreed rates are penalized.

Pitfalls of standardised rates:

The question that arises from the above pointers is that how easy is it to apply these rules to housing societies. A lot of residents were happy with the above-mentioned resolutions, however, some disagreed to the resolutions claiming that they were quite capitalist in nature and if doctors/engineers can demand their price, why can’t the domestic help do the same? The whole demand and supply economics lies in the scenario that if you can afford a maid for Rs. 8,000 and can very well afford it, it doesn’t matter to you if others in the apartment are paying Rs. 3,000. The others sooner or later will have to succumb to the so-called “market rate” pressure and increase the salary bars.

The resolutions mentioned above can only work if people living in an apartment work as a team with their associations and come to a common resolution wherein neither the domestic help is exploited nor are the employers blackmailed for sudden pay hikes.

Until then people with maids/drivers working with you for more than a year, good luck in maintaining them. For people searching for a good domestic help, best of luck for your quest to find the right domestic help!

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apnacomplexnitin
January 4, 2019

Ensure Vehicle Safety with Vehicle Sentry

Vehicle Tracking of is one of the key responsibilities for security guards of every apartment. In addition, Vehicle Security itself is a very important issue for every society. With theft of vehicles increasing, it has become an imperative for societies to address this issue. How would one know whether their vehicle is safe and is still at the same place they left it? Wouldn’t it be nice to be able to keep track of your vehicle’s movement whenever you are not using it?

The system in most housing societies:

“Parking lot stickers” are issued to vehicle owners. These are stuck to windshields. Vehicles are permitted entry into a complex after the sticker is verified by the security guard. However, since there is no way to “deactivate” the sticker the entry of unauthorized vehicles even after they left the society cannot be controlled. Further, there is no record or log of the entry or exit of vehicles of the residents. In case of a security issue, this can be a major shortcoming.

Our solution:

Vehicle Sentry is a Vehicle Tracking System that is RFID based and fully integrated with the ApnaComplex cloud. At a broad level, Vehicle Sentry includes RFID tags for all authorized vehicles and RFID readers at the gate. This allows you to track the movement of your vehicle when it exits or enters the apartment gate.

How does Vehicle Sentry work?

Authorized vehicles are first fitted with RFID tags. Next, RFID readers are installed at the gates. These Readers come with ApnaComplex’s own custom hardware called ‘Sentry Controller’ that acts as the gateway between ApnaComplex Cloud and the RFID Readers. Sentry Controller helps sync the vehicle entry, and exit information to the ApnaComplex cloud server in near real-time, and also keeps the reader in sync with tags issued for new vehicles and de-activated tag list.

Important features of Vehicle Sentry:

When a Vehicle with valid tag passes near the gate, the light/buzzer connected to the reader will buzz indicating the detection.
It can also be configured to hoot for invalid tags.
It can be hooked up with a boom barrier for automatic entry/exit.
Vehicle movement information will get automatically synced up with the ApnaComplex portal.
Admins can check the vehicle movement records any time in the portal.
Data of any new tags issues or old tags deactivated will automatically update the RFID reader (as long as it has internet connectivity)

Benefits of Vehicle Sentry:

Increased security in your society:

The movement of every vehicle entering and leaving the campus can be tracked, making it more secure. Unwanted intrusion is avoided with the use of Vehicle Sentry.

Easy and quick Updates:

All the data for your entire apartment complex is stored in a single database. Any other RFID solution you implement will force you to maintain separate databases for vehicles and apartment units. This means you need to manually update the same information over and over again. Vehicle Sentry is an integrated solution and redundant efforts do not come into the picture.

Cost Effective:

No extra hardware is needed apart from RFID reader installed at the gate. All functionalities are driven from the ApnaComplex portal. Your estate manager can issue and deactivate tags to be updated to the portal. In addition, you could just deploy the vehicle movement tracking with our boom barrier, making it very cost effective for the housing society.

This is yet another innovative approach by ApnaComplex to keep your mind free from worry while providing you with the best services possible. To know more about Vehicle Sentry and to implement it in your society, kindly submit a sales request at the Contact Us page and we will get back to you with the details.

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apnacomplexnitin
September 28, 2018

3 Easy Steps to start using ApnaComplex Gatekeeper

With gated societies becoming the new norm for community living, security at the gates is of utmost importance. While security cameras and pen-and-paper visitor logs have always been a go-to solution, they often fall short in tracking the traffic in and out of the gate.

Why ApnaComplex Gatekeeper?

Gatekeeper by ApnaComplex is a proven technological solution to the security needs in your Apartment Complex. Not only is it convenient, but it also provides the best value-for-money. Gatekeeper is part of the integrated ApnaComplex mobile App that also provides other apartment management solutions. It is a complete package for all your apartment management needs.

Gatekeeper tackles several security concerns that may arise in a gated community. A simple mobile application will allow you to track visitors, delivery agents, domestic staff and even your vehicle. Gatekeeper provides not just app-based security but is also easy to integrate with hardware installations like RFID or Biometric devices. We also have a unique feature that provides real-time notification when your child’s school bus is at the gate!

What is more, at ApnaComplex, we take Data Privacy very seriously. Your information is saved on our database with several layers of security. Access to this data is unavailable to anybody without your express permission.

How to join ApnaComplex Gatekeeper?

You can join ApnaComplex in three easy steps:

1) Create an online portal.
If you are a member of the management committee, all you have to do is fill out the form. We have a step-by-step guide to get you through the verification process.

2) Provide details
Log in and enter the details about your complex like the number of blocks, apartments and residents. Gatekeeper is now at your service! We also provide a free demo on demand to familiarize you with the app.

3) Download the app
Download the Gatekeeper app for your security staff and start using it. Gatekeeper is also available in regional languages like Marathi, Hindi and Tamil. Language is no longer a problem!

It is that simple! Security for you and your family made hassle-free. You can now manage your entire apartment complex with just a smartphone! ApnaComplex is available on both Android and IOS.

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