Society Accounting Software
Everything You Need To Know About Housing Society Management Software
In today’s hectic world, time management has become an integral part of everyone. Because of which people are struggling to find their free time. Technology comes as a rescue here to lighten the work of human labor. Similarly, engineering is using advanced pattern to make our lives simpler under the fringes of technology.
Similarly, Housing society Management in a residential society is a lengthy task, especially as the members of the managing committee have to voluntarily set aside time to handle activities such as billing, dues collection and bookkeeping for hundreds of apartments.
There are some things that happen in the accounting circuit which if not done properly can take a toll on financial management.
- Delayed monthly maintenance payments
- Rising invoices for various restorations and repairs
- Using different tools for calculations
- Vendors and service providers plus annual maintenance contract payments
- Maintaining monthly payments to service staff and housekeeping
- Annual Financial Reports and P&L
- Manual calculations are prone to errors and also take time
It would be correct to say that society accounting is similar to managing the finances of a company or start-up depending on the size and requirements of the residents.
Often committee members are unable to do the unnecessary low-level data entry work properly, leaving others to pay for it and simply handing it over to an intelligent assistant app makes sense that can do all this quickly and smartly.
Why do you need housing society management software?
Software is a product of technology that helps to manage Housing Accounting Management. It is an important function of every housing society to manage the accounts for the smooth running of the management and for the future growth of the society.
Housing society management software is a reliable, end-to-end, intelligent society management app that will take care of all accounting needs. A single dashboard option for bills and reports, one-click payments, minimum transaction cost, and unlimited SMS option is available.
These are essentially a complete accounting suite which would have made it easy to generate any kind of reports in real time. It has been able to simplify the lives of residents and committee members.
It also allows members to integrate an advanced system. For example, the tracking external payment option helps in tracking weekly or monthly expenses easily.
Filtering tracking of data or invoices takes a lot of time and effort, hence the secure accounting solution can also be customized as per the specific requirement of the customers. Apart from this, you also get the option to record all possible information required in the process of data backup and security accounting.
What if technology takes over the role of housing account manager! It is not that easy to manage multiple accounts at once. Also, operating the system is tedious and time-consuming for the owners. Let’s understand how.
Reason and benefit of using best accounting software for housing society
Time management
Companies continue to increasingly adopt management capabilities. So by using time-to-time data storage and analytics, the software company is able to improve systemic time management. When it comes to providing billing to specific members, this software is capable of sending customized solutions. In addition, the automated method of software enables proficient accounting services for housing societies.
Maintenance and customized billing
A custom invoicing show a professional gesture and improves the smooth running of the software. On the other hand, Society members can differentiate their custom bills and feel satisfied with software.
Maintenance bill collection is arguably the most important task that the committee has to manage every month. It is necessary to make or receive payments on time. In Society Accounting Apps, managements can send automatic scheduled maintenance bills on date/month basis to residents with the click of a button.
There is no need to collect the amount payable physically in cash or cheque. Management members can generate invoices based on filters such as towers, tenants, owners, flat type, send scheduled emails and SMS to residents, as well as ensure that there are no maintenance dues, delays or underpayments Is.
Bill with GST
The committees are required to bill members for various services and utilities such as water, waste collection, electricity, etc. In Society Accounting Software, you will also get the option to issue invoice with multiple line items in a single bill with different GST rates which is designed with customizable formats.
Faster online Payment method
The billing process is also time-consuming and can be a source of frustration for the customers. However, the software enables easy and quick billing methods. Members can also attach bills instantly by clicking on the QR code.
While everyone is used to using mobile wallets and net banking, society accounting apps take the process of digital payments to the next level. Residents can pay through Net Banking, Credit Card, Debit Card, RuPay, with Zero Convenience Fee, and Zero Fee on Society Transactions. Apart from this, you can also opt for UPI to complete the process.
Boost performance and increase your organization’s productivity with housing society management software
As a renowned society software development company, we provide custom apartment and society management solutions. Hello residents’ integrated security system helps management find a secure accounting method. With standard features and core banking functions, we develop a robust software platform for our customers.