Most of us struggle with managing our own finances. It’s easy to keep track of what’s coming in, as we have a few sources of incomes, but it’s not so easy to keep track of all our expenditures. Now, imagine having to maintain finances for a building society where there are hundreds of homes!
Now, you must keep track of who has paid, who has not, who has made partial payments and who has paid the wrong amount. You’ll also have to keep track of where the money collected has been spent, how much is being spent, how much is being saved, how much goes on tax and a lot more. If you’re not an accountant or someone who is savvy with accounting and bookkeeping, then managing housing society finances can be a frightful task.
This is where NoBrokerHood comes in, this housing society management app offers you many features that you can use to make maintaining building finances simple and error-free. Here is what you can do with the NoBrokerHood Accounting and billing feature –
You can now keep track of all the money the housing society has in all its accounts. You will also be able to manage funds in each account and petty cash through the dashboard. Being in charge of the finances becomes hassle-free as you won’t have to maintain a ledger or do anything manually.
You paid the electrician Rs.500 to replace 10 lights, and another 300 for labour. But then he added another 450 for wiring. While you might have added the first two items in the ledger, there is a chance you would have forgotten the third. Or, maybe you misplaced the bill? With the income and expense tracker, you’ll be able to track every rupee that’s coming in and going out with ease digitally. You’ll be able to account for everything and make maintaining finances more transparent.
Generate bills for housing society related work and purchases with ease. Just fill in details and print! It takes a few seconds. As there are secure payment gateways integrated with NoBrokerHood, you can even make payments instantly and safely. You’ll never miss a payment or have to worry about late fees.
For those in the management committee, keeping track of purchases is cumbersome. This feature will make the process systematic and transparent. You will be able to see who has made what purchase, how much it was, and if the funds were used correctly. There are approvals that need to be taken for these purchases so that everything done is accounted for.
Do you know how many brooms or how many dusting cloths are required by the cleaning staff every month? Do you know how many are used and how many are left? With the asset and inventory feature, you’ll be able to keep track of all society assets and inventory in one place. The automated workflows and simple interface make this task a breeze.
When the time comes to analyse expenses or to handover finances to the next committee, you can publish reports of all financial activities with just a click! Be it income-expense reports or asset reports, you won’t have to spend hours on it, this task now takes only a few minutes.
Are you looking to try out NoBrokerHood? Get a FREE demo and consult with experts to find out how it can help your housing society. Click here to know more about NoBrokerHood.