Category Society Accounting Software

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!


Utility Billing Software Enhanced – Raise Utility Bills right from Mobile or Tablet

Gated communities and Apartments having Metered Utilities (like Piped Gas, Water Meters) face this issue every month when they are ready to raise utility bills on members – capturing of Meter Readings and then raising bills.

There is too much of manual work involved in capturing the meter reading. Typical steps involve:

1. Maintenance staff go door-to-door to note down the readings in a log book. This itself is usually takes few days based on the size of the community.

2. The readings noted will now have to be digitized and entered into excel and upload or into the portal one by one. This is a place where quite a few issues can crop up with respect to data entry – illegible readings, typos while entering.

3. Raise Bills. (This is a breeze if you are using ApnaComplex)

4. Now starts the disputes by members – the bill is incorrect, reading is incorrect – largely due to the data entry errors that crept in and more importantly due to lack of validation from concerned members when the meter reading was taken.

In ApnaComplex you can address issues like these with the enhanced Metered Utility Billing module (which is part of the Society Accounting Software).

We now have Metered Utility App available as a part of ApnaComplex Android Application.
Metered Utility Billing now from your Tablet
With the help of the Metered Utility on Android App:

1. Maintenance staff can now move with in the complex / layout with a mobile device (android phone / tablet) when they go door-to-door for collecting the reading.

2. The closing meter reading can be noted against each plot / flat with in the App. The app instantly sends an SMS to the resident confirming the meter reading noted down by the staff. If there is a discrepancy or error the resident an instantly alert the staff or the maintenance office about inaccurate reading. The staff can then re-enter the reading.

3. Once the data collection is done, the society office can validate the data and raise the bills. The meter readings can be overridden if needed by the society office before raising the bills.

Less disputes and more peace of mind.

Now for the icing on the cake:
The meter reading app works even with out internet! This has the capability to store all the readings locally on the device and push the readings to server when ever internet connectivity is available.

This takes care of the cases where internet / GPRS connection may not be easily available across the complex consistently.


Get your Society on ApnaComplex – Today!

ApnaComplex is India’s most mature and comprehensive web based society management platform. The platform also include Utility Billing Software for Housing Societies to easily generate bills for the members of the society against their Flats / Villas / Shops for their consumption of water / gas / energy etc. ApnaComplex is designed to make the life of treasurers a lot better by reducing efforts and at the same time bringing in more transparency and accountability in managing finances of a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 15-day trial as well so that you can try before you buy!


Enhancements to Society Accounting Software

We have released a bunch of enhancements to the Society Accounting Module of ApnaComplex improving the usability. List of some key enhancements below:

Easily resend Invoices to all Members

At times, treasurers would like to turn off the email and SMS notifications, raise invoices on members and then send the email notifications. Also, some times the notification settings would have been disabled by mistake when raising the invoices and members would not have received the same. In the past, you had to raise a request to our support team to send the invoices. With this enhancement, you can re-send the invoices anytime you want. Go to Income->Invoices->Billed Invoice Groups and click on the ‘Resend invoices’ icon.
This will schedule the invoices to be sent to members by email and SMS. Do ensure that the email and SMS notifications are enabled in Complex Settings before you do this. More power to you!

Vendor Bills UI Improvements

We have improved the navigation for Bills. You now will be able to search on Bills based on date range and status (paid or unpaid) – instead of going through multiple buttons for Open Bills, Paid Bills, Open Bills of past Accounting Periods etc.

PDF Downloads for Contra and Journal Vouchers

We have PDF vouchers for all invoices, receipts, expenses, payments. We are now offering PDF vouchers for Contra and Journal entries as well.

Additional Financial Reports

Few more additional reports have been added in the financial reports section – report giving all Journal vouchers in single view, downloadable report for Contra entries, consolidated vendor ledger report – containing all ledger entries against vendors are available in single PDF.


Get your Society on ApnaComplex – Today!

ApnaComplex is India’s most mature and comprehensive web based housing society accounting software. ApnaComplex is designed to make the life of treasurers a lot better by reducing efforts and at the same time bringing in more transparency and accountability in managing finances of a housing society. Check out the features of ApnaComplex and sign up your society today to get the benefits! We offer a free 15-day trial as well so that you can try before you buy!


Should Service Tax be collected from Members of Apartment Association?

Apartment Associations are liable to pay service tax to Government of India when one or more members of the association has contributed more than Rs. 5,000/- per month to the association (refer this post for clarity). As per the law, the liability is on the Society to remit service tax – irrespective of the society collecting the same from members.

The society has couple of options to take to pay the service tax to the government:

Option-1: Service Tax is a destination based tax – means the service tax can passed to the members in question directly, collected and then paid. In societies where the contribution is same by all members or in societies where every member is contributing more than Rs. 5,000/- there is usually no issue in collecting the same from all members and remitting the same to government. However, in quite a few apartment complexes, there is a situation where there are only few members who cross the Rs. 5,000/- per month limit. This means that these few members will have to pay significantly higher charges than the rest and it can create disharmony in the society. There will be pressure on the executive committee to review the total charges collected to keep it below Rs. 5,000/- so that few members do not end up paying significantly high rates.

Option-2: Do not to collect the service tax from the members – but compute the service tax to be remitted to Government on cum-tax basis and remit the same. For example, if there are 10 members who are paying Rs. 6,000/- per month – then the service tax to be paid can be calculated on Rs. 60,000 (total contribution by service tax eligible members). The tax to be paid would be 60000 * 12.36/112.36 = 6600/-. This is a much preferred option for cases where only few flats are to pay service tax. The society can remit this payment to Govt. Also, since society can claim cenvat credit on the service tax to be paid this approach would ensure there is no additional burden on few members of the society.


Jan 2014 Circular on Service Tax on Apartment Associations

A new circular has been released by Service Tax department on 10th Jan 2014 attempting to clarify the confusion surrounding applicability of service tax on dues collected from Members.

Based on the past circulars of March 2012 and June 2012, up to Rs. 5,000/- per month per member of collection is exempted from service tax. Even though there are varied opinions on interpretation of the same, few societies where the collection was above Rs. 5,000/- were only collecting service tax on the additional amount.

The latest circular clarifies this particular aspect – if a member is paying more than Rs. 5,000/- per month – service tax needs to be collected on entire amount and not just on the amount exceeding Rs. 5,000/-.. For example, if some one is paying Rs.5,100 the society is now liable for service tax of 5,100*12.36% = Rs. 630/-.

Couple of other clarifications as well which will reduce some confusion:
Service tax is only applicable on the amount collected from members whose contribution is more than 5,000/- per month per flat. If in a society there are members who are contributing less – the amount collected from them will not be liable for service tax.

Service Tax is not applicable where money is collected by society from members to pay to a third party purely as a convenience – like paying water bills issued to members in bulk.

Read below the extract from the circular that attempts to clarify various doubts:

Sl. No.

Doubt

Clarification

1.

(i) In a residential complex, monthly
contribution collected from members is used by the RWA for the purpose of
making payments to the third parties, in respect of commonly used services or
goods [Example: for providing security service for the residential complex,
maintenance or upkeep of common area and common facilities like lift, water
sump, health and fitness centre, swimming pool, payment of electricity Bill
for the common area and lift, etc.]. Is service tax leviable?

 

(ii) If the contribution of a member/s of a
RWA exceeds five thousand rupees per month, how should the service tax
liability be calculated?

Exemption at Sl. No. 28 (c) in notification
No. 25/2012-ST is provided specifically with reference to service provided by
an unincorporated body or a non–profit entity registered under any law for
the time being in force such as RWAs, to its own members.

 

However, a monetary ceiling has been
prescribed for this exemption, calculated in the form of five thousand rupees
per month per member contribution to the RWA, for sourcing of goods or
services from third person for the common use of its members.

 

If per month per member contribution of any
or some members of a RWA exceeds five thousand rupees, the entire
contribution of such members whose per month contribution exceeds five
thousand rupees would be ineligible for the exemption under the said
notification. Service tax would then be leviable on the aggregate amount of
monthly contribution of such members.

2.

(i) Is threshold exemption under
notification No. 33/2012-ST available to RWA?

 

(ii) Does ‘aggregate value’ for the
pusrpose of threshold exemption, include the value of exempt service?

 

Threshold exemption available under notification
No. 33/2012-ST is applicable to a RWA, subject to conditions prescribed in
the notification. Under this notification, taxable services of aggregate
value not exceeding ten lakh rupees in any financial year is exempted from
service tax. As per the definition of ‘aggregate value’ provided in
Explanation B of the notification, aggregate value does not include the value
of services which are exempt from service tax.

3.

If a RWA provides certain services such as
payment of electricity or water bill issued by third person, in the name of
its members, acting as a ‘pure agent’ of its members, is exclusion from value
of taxable service available for the purposes of exemptions provided in
Notification 33/2012-ST or 25/2012-ST ?

In Rule 5(2) of the Service Tax
(Determination of Value) Rules, 2006, it is provided that expenditure or
costs incurred by a service provider as a pure agent of the recipient of
service shall be excluded from the value of taxable service, subject to the
conditions specified in the Rule.

For illustration, where the payment for an
electricity bill raised by an electricity transmission or distribution
utility in the name of the owner of an apartment in respect of electricity
consumed thereon, is collected and paid by the RWA to the utility, without
charging any commission or a consideration by any other name, the RWA is
acting as a pure agent and hence exclusion from the value of taxable service
would be available. However, in the case of electricity bills issued in the
name of RWA, in respect of electricity consumed for common use of lifts,
motor pumps for water supply, lights in common area, etc., since there is no
agent involved in these transactions, the exclusion from the value of taxable
service would not be available.

4.

Is CENVAT credit available to RWA for
payment of service tax?

RWA may avail cenvat credit and use the
same for payment of service tax, in accordance with the Cenvat Credit Rules.

Next Steps

We strongly recommend you reach out to your auditor for advise. Especially, if you have been collecting service tax from members only on the incremental amount – reach out to your auditor on the impact of this circular for past collections.

Even though adding Service Tax is relatively straight forward in ApnaComplex – do reach out to our ever helpful support team if your society is charging service tax and needs assistance.


ApnaComplex substantially improved realization of timely maintenance payment and past dues

Mr. Pankaj, committee member of Fern Saroj Apartments in Bangalore wrote to us today on how ApnaComplex.com streamlined the finances in the society :)

At Fern Saroj, we adopted ApnaComplex in August 2013.I am happy to say that within 2 months period we migrated our current fiscal accounts to the portal.

It has drastically improved our communication with residents on money matters and has also substantially improved realization of timely maintenance payment and recovery of past dues.

This was possible due to very easy access to accounting records. Paper work is now literally zero.

Must also add, that the support from ApnaComplex has been excellent with first human response always coming in within 15 minutes. Way to go !

We are super charged up after receiving this note! Thank you so much!


Want to manage your apartment easily and financials transparently in your Housing Society? – Get on to ApnaComplex – Today!

ApnaComplex is India’s #1 mobile and web based Apartment Management Software.

ApnaComplex is designed to make the life of residents and owners lot better by bringing in more transparency and accountability in managing a housing society. Check out why we say ApnaComplex is Best Apartment Management Software and sign up your society today to get the benefits! We offer ApnaComplex – Free Edition with awesome capabilities which you can use free of cost forever.


Announcing Rules Engine in ApnaComplex for Dynamic Housing Societies

Continuing with the tradition of innovation, ApnaComplex now offers, a first of its kind in any Housing Society Software, a rules engine for housing societies to implement automated billing to members based on any number of conditions.

So, what is this rules engine?

Rules Engine offers ApnaComplex administrators a mechanism to get list of units (flats / villas) based on criteria conigured by the administrator. Let us say, you want to know list of rented flats where vehicle count is more than 3 and resident count is more than 6. In life with out ApnaComplex you would have to get the data from multiple sources and then try and count manually or write couple of excel macros. Its super easy to get this with the rule engine. Create three rules, combine them to create a rule set, execute the rule set to get the list of flats.

Committee Member of a society that adopted ApnaComplex 🙂

That sounds fun. But what is the real utility of this in a Society Accounting Software?

Imagine if you were to do billing to members based on a conditions like number of parking lots owned, number of residents in the house, who occupied the flat etc. This data is dynamic and can potentially change every month when you are ready to invoice. It takes enormous amount of time to accurately raise an invoice. With help of rules engine, you can create the conditions that impact your billing as rules, group them as rule sets and save them. When you are ready to invoice, just execute the rule set to get list of flats and then use that to raise the invoices on selected units.

Can I use the rules engine with recurring invoices feature of ApnaComplex?

Absolutely yes, you can now configure recurring invoices to execute one or more rule sets and then add charges for ONLY those units that meet the conditions mentioned in the rules. Now, that is mighty powerful – the system automatically executes rules that are defined by the admin on a periodic basis and then generate invoices to only those flats that meet the conditions. Zero manual intervention.

What if billing criteria in my housing society changes?

You can change the conditions and the threshold values for the conditions any time you want.

I can’t wait to use it. Where do I find it?

If you already using ApnaComplex, go to Income->Member Income. Click Setup Rules to get started.
If you want to get started with ApnaComplex, register your society and get started!

Is there anything else I can do with the rules engine other than billing?

Stay tuned for more ways of using this unique feature in ApnaComplex 🙂


Want to manage your apartment easily and financials transparently in your Housing Society? – Get on to ApnaComplex – Today!

ApnaComplex is India’s #1 mobile and web based Apartment Management Software.

ApnaComplex is designed to make the life of residents and owners lot better by bringing in more transparency and accountability in managing a housing society. Check out why we say ApnaComplex is Best Apartment Management Software and sign up your society today to get the benefits! We offer ApnaComplex – Free Edition with awesome capabilities which you can use free of cost forever.


Refund to Members Made Easy in ApnaComplex

A New Year gift to ApnaComplex Treasurers!

ApnaComplex – your favorite Society Accounting Software now supports giving refund to members easily. One of the not-so-frequent scenarios that happen in a housing society is to refund money paid by members.

This usually happens when members pay excess amount to the society and later claim refund or when caution deposits made are to be refunded to tenants. In one of the cases we are aware of, a member has paid Rs. 90,000/- instead of Rs. 9,000/- by mistake to the society via NEFT only to claim a refund later.

We have been advising our treasurers a series of steps to issue a refund to members. Now, we have automated all these steps and issuing a refund is now as simple as any other financial transaction in ApnaComplex.

Just go to Income->Member Income. Filter on flat and select the ‘Add Refund’ icon against the flat to issue refund to members who have advance payment in their accounts. All you need to do is fill the amount of refund, mode of payment etc and you are done!
Like with all other scenarios, ApnaComplex takes care of all the accounting entries behind the scenes.

You can also view refunds given across the society, against specific flats easily – view the details of the refunds given and even delete refunds given if needed.

Happy Giving 🙂


Want to manage your apartment easily and financials transparently in your Housing Society? – Get on to ApnaComplex – Today!

ApnaComplex is India’s #1 mobile and web based Apartment Management Software.

ApnaComplex is designed to make the life of residents and owners lot better by bringing in more transparency and accountability in managing a housing society. Check out why we say ApnaComplex is Best Apartment Management Software and sign up your society today to get the benefits! We offer ApnaComplex – Free Edition with awesome capabilities which you can use free of cost forever.


Accounting Enhancement: Service Tax for Non-Member Income

One more enhancement to our Housing Society Accounting Software! With recent Service Tax Regulations that came into effect from July 1st 2012 – most income earned by a Co-operative Housing Society has come under the ambit of Service Tax. Unlike the maintenance charges where Service Tax is applicable only if it exceeds Rupees Five Thousand per member per month – additional income that the society earns usually in form of renting out premises for commercial activities or promotions come under the ambit of Service Tax. (Please check with your auditor for exact interpretation of the regulations and if your society needs to collect Service Tax on all the income generated through sources other than members.)

While all along your favorite Housing Society Software – ApnaComplex – had the ability to record service tax collected with help of Journal entries, a much more easier and straight forward way is now supported in the Non-Member Income module. When adding new Non-Member Income entries, you can now explicitly specify service tax amount being collected from the third-party. This amount would automatically go into the Service Tax Payables core account. When the collected Service Tax is deposited to Government, you can record the same in the system under Expenditure->Vendor Payables->Pay Tax/TDS tab.

Admins can edit/revert/delete the Non-Member Income entries to change the service tax or other elements of the entry to rectify any mistakes.

The bulk upload feature for Non-Member Income also supports the service tax making it lot easier to import data into ApnaComplex.

In addition, admins can now update their PAN and Service Tax Registration numbers in Complex->Settings and these would automatically be reflected on all accounting vouchers.


Want to maintain financials easily and transparently in your Housing Society? – Get on to ApnaComplex – Today!

ApnaComplex is India’s best web based housing society accounting software.
ApnaComplex is designed to make the life of residents and owners lot better by bringing in more transparency and accountability in managing a housing society. Check out why we say ApnaComplex is Best Apartment Management Software and sign up your society today to get the benefits! We offer ApnaComplex – Free Edition with awesome capabilities which you can use free of cost forever.


Accounting Enhancement: Reconcile Cash/Bank Transactions in Bulk

As a latest enhancement to our Housing Society Accounting Software, auditors accountants and housing society treasurers can now reconcile bank and cash transactions with the actual bank account in bulk in ApnaComplex. Select one or more ledger entries (or Select All) and click ‘Reconcile’ or ‘Unreconcile’ to do bulk reconciliation of the ledger entries – saving time and efforts.

Also, you will now be able to see the book balance and bank balance right below the reconciled statement which gets auto refreshed as you mark ledger entries as reconciled/unreconciled.


Want to maintain financials easily and transparently in your Housing Society? – Get on to ApnaComplex – Today!

ApnaComplex is India’s best web based housing society accounting software.
ApnaComplex is designed to make the life of residents and owners lot better by bringing in more transparency and accountability in managing a housing society. Check out why we say ApnaComplex is Best Apartment Management Software and sign up your society today to get the benefits! We offer ApnaComplex – Free Edition with awesome capabilities which you can use free of cost forever.