A bunch of enhancements have been released in the Accounting modules. Please share this update with your Office Staff in case they are responsible for Income/Expense Tracker data entry.
CHANGES IN INCOME TRACKER
1. Collection Screen
Path: Admin Dashboard > Income Tracker > Track Fees > Collection button
2 NEW fields have been introduced : Instrument type ( Cheque, NEFT, Cash, DD ) and Instrument Bank. These are mandatory fields and will help in complete data capture and reconciliation.
2. Online Receipt Changes
The Online Receipt will now show the period of Auto Invoice (Maintenance Fee), against which the Collection has been applied. You dont have to enter the Period manually any more.
The Receipt generally looks more beautiful!
3. Batch Invoice posting screen & Excel Import of Invoices
Path: Admin Dashboard > Income Tracker > Track Fees > Post Invoice in Batch
Till now, while doing batch posting of Invoices or Excel Import of Invoices, you could provide only one posting Date, applicable to all Invoices in that Batch.
Now each Invoice entry can have its specific date. In case of Excel Import, the template now carries the Square Feet, Flat Category and open Dues for all the flats – this will help you in calculating Penalties based on your forumula ( eg. x% of open dues). This excel can then be uploaded to post the penalties.
4. Batch payment posting and Excel Import of payments
Path: Admin Dashboard > Income Tracker > Track Fees > Post Payment in Batch
Instrument Type, Instrument Bank and Instrument Date are the new fields available for each payment. Also, in the Excel template the open Dues, Flat Category and Square Feet is exposed.
Note : Please make sure the final excel you are uploading is in CSV format.
CHANGES IN EXPENSE TRACKER
1. Payment screen changes
Path: Admin Dashboard > Expense Tracker > Post Expense > Make Payment button
1 NEW field have been introduced : Instrument type ( Cheque, NEFT, Cash, DD ). This is a mandatory field and will help in complete data capture and reconciliation.
CHANGES IN INCOME TRACKER & EXPENSE TRACKER
1. Removing Auto-Reconcile from posting screens
The Auto-Reconcile feature has not lived up to its expectation of usefulness. It has been voted down by our Product Mgmt Team and User Focus group, and is being removed. For regular reconciliation, please go to the Bank & Cash application for easy and quick, albeit manual reconciling of transactions.
That’s it for this Release, watch out for more cool enhancements to your favorite Applications.
Wishing you a great second Quarter!