What are the Financial transactions that Multi Dwelling Units (Apartment/Villa communities) perform?
1. Invoicing Residents
2. Collecting Payments from Residents
3. Receiving Vendor Invoices
4. Making payments to Vendors
5. Investing Funds
6. Collection and payment of Taxes
7. Adjustment Entries – Write-Offs, Depreciation and others.
What does ADDA Society Accounting Software offer?
1. Complete Billing and Collection module, with provision for Service Tax. Online Invoices and Receipts are interfaced with Residents who are the users of ApartmentAdda. Invoices and Receipts sent via Email and SMS.
2. Complete capture of Vendor Invoices (Payables) and Payments made, by Expense Heads. Expenses can be published to Residents with a single click.
3. Complete Online Cash Position report, reconciliation function with Bank Statement, download to Excel for further analysis, audit or porting to other Accounting Packages.
“This typically takes care of 95% of the Accounting requirements of an MDU.” – Apartment Auditor
These transactions can be exported to Excel with single click, to be converted to the Final Accounting Statements, after adding other derived components such as Asset Depreciation and other Adjustment Entries.
Advantage of using ADDA Society Accounting Software for all Invoicing and Collection:
1. Online. Invoices are always accessible to the Residents. Integration with Email and SMS is a tremendous accelerator for quick collection.
2. Automatic Invoice generation for Maintenance Fee – not available in any other Accounting Package.
3. Ease of transaction entry – does not need an Accountant to operate.