Books of Accounts need to be accurate and up-to-date to measure the financial health of the Complex. This information should be readily available to the Managing Committee so that they can take decisions on collections and expenditure. Features of the Accounts module include -
1. Automatic Accounting entries made for all Billing & Receipts 2. Create any number of Groups & Ledgers as per Chart of Accounts 3. Entry for Other Income, Expenditure, Contra & Journal Vouchers 4. Bank Reconciliation with tracking of Bank Balances can be done for any period 5. Investment Entries with automatic voucher posting for the complete lifecyle
If the Income & Expenditure is not actively monitored then the money is not managed in an efficient manner. In that case excess money remains in the bank account rather than being invested in Fixed Deposits etc which is a loss to the Society. Benefits of the Accounts module include -
1. SMS & Email alerts for high/low bank balance and investment maturity 2. Most of entries are automated (billing, receipts, investments etc) increasing accuracy & efficiency 3. Automatic TDS calculation for Vendors based on the rules defined 4. Accounting Reports like Ledger, Cash/Bank Book, Voucher, Investments etc available 5. Management can review Income & Expenditure & Balance Sheet anytime