In our constant endeavor to help you manage your apartment complexes more effectively, we have added a set of feature enhancements to our Money Management module. Some of the key changes introduced are:-

1)  Seamless Integration with Asset Management: – With this integration done, any asset transaction (Purchase/ Sold) will now reflect in the accounting reports.

2)  Simplified Journal entries: – Recording a Journal entry in the Money Manager module is now simpler and standardized.

3)  Audit-ready Accounting Reports: – We have worked with accounting experts to ensure that our reports adhere to the accounting standards and have adopted the widely accepted ‘Accrual’ basis of accounting.

4)  Additional Ledgers In Trial Balance: – Separate ledgers have now been provided for the following:-

• Penalty on Maintenance Dues (will be shown under ‘Penalty’)
• Service Tax raised (will be shown as ‘Service Tax Payable’)
• Each bank account (will be shown as a separate ledger)
• Settling of invoices (will now reflect as ‘Discount on Settlement’)

 Above changes should help you in:

1)   Getting relevant Asset entries in Trial Balance and other accounting reports.

2)   Generating accurate and reliable accounting reports that are also audit-ready.

3)   Easily recording journal entries and updates on the portal

4)   Bringing more clarity to treasurers regarding trial balance entries.

Got an idea or suggestion?

Tell us what you think of these refinements in the comment section below or drop us an email with your suggestions at support@commonfloor.com and we’ll be all ears!