How can Society Accounting Software save time and money for Management committees?
With a significant upward trend in the construction of tall buildings having dozens of apartments; housing societies are becoming the new norm. People aren’t too keen anymore to buy properties having sky-high rates in metros which might burn a hole in their pocket. This compels most buyers to look at housing societies to dwell in. With this trend, the population density of group housing societies has increased, which comes with its own issues to deal with.
Usually, a treasurer is appointed to handle all aspects of financial management, to receive all monies due and payable to the society and issue receipts for the same. Besides being the thankless job it is, the role comes with daily challenges and the risk of inaccuracy, miscalculations, missing out important payment reminders and maintaining the records all manually. Because everything is done manually, undue time is devoted, more than what is needed and it needs resources too. Forget the resource even finding a society member volunteer to handle the accounts is as difficult as it gets and even if you manage to get one, there isn’t any guarantee that that the process will go error-free and systematic.
Well, let’s just say necessity is the mother of all inventions! The market right now is booming with housing society accounting software that promises to provide complete solutions to society accounting and community collaboration, helping you manage the housing society financial data effectively without any scope of error. After all, who has seen a computer making an error; it is just something only humans are capable of! Other than bringing transparency to the whole process, it saves precious time and money.
Neighbium is not just your best society management companion but a true neighbor! It does not just make society accounting simpler but also has an easy user interface allowing the users to learn to operate it quickly. Any person with limited knowledge of computers and unfamiliar with accounting or bookkeeping practices can get a hold of it in no time. The society billings and accounts are all handled in an organized manner so that you can take charge of your society accounting hassle-free, streamlining society administration. With Neighbium for society accounting, there is no need for any other housing society accounting software such as tally to maintain the Society accounts.
Here is how Neighbium Housing society accounting software comes to your rescue and helps bring professionalism to your Housing Society. Let us explore the features in-depth.
- Billing and Income tracker – Raise invoices automatically against all apartments or select flats based on area or based on a fixed amount or a combination of both.
- Expense tracker –Besides comparing expenses for the past period, record and track ad-hoc expenses of the apartment association under various heads. Query and view expense statements for any month.
- Bank and cash management –Track all member income, non-member income and expenses against the bank and cash accounts. Query and view cash transactions from all account head for any period.
- Automated ledger entry -Automatically enters the payment against the flats and society members. No log-ins required to record the payment or issue the receipt.
- General ledger – Chart of Accounts to configure Assets, Liabilities, Income and Expense Account Heads all in one place. Journal Entries move money to relevant Account Heads.
- Financial reports – Generate, View, Print financial reports such as Balance Sheet, Income/Expenditure (P & L) Report, Day wise, Month wise & Year-wise Expense Statements, etc.
Neighbium is elegant and easy to use platform with an easy set-up and installation. Most of the operations are linked and handled by the solution automatically without having to specify, which makes running a society simpler and smarter.
