As urbanization grow people start living in building, Residential complex, or residential Housing society, for functioning smoothly Members of building, complex or housing society form a Management for under rule of Co-operative housing society or Apartment of association.
To function an operation of society smoothly management committee charge service charge or maintenance charge to their society member depend on Flat/ Bungalow area, BHK. And utilise all this fund to keep maintain the society area premise. If look at society with minimum maintenance charge of Rs. 1000/ Month for society of 70 flat society then turn over goes minimum up to 8-10 lacs.
Society has use its fund very carefully and transparent because they have to go through annual Audit. Some of society have very rich their annual transaction is more than crore. But sometime we see in management committee have very less knowledge of accounting and Society management. So they keep an Accountant or Employee for daily working of society.
In this case society not become transparent because any committee member don’t have any knowledge how much daily cash the accountant has collected , how much cash is expense , Because committee keep trust on the employee. I have seen many society where a manager use 5 thousands– 60 thousand cash for his personal use and society don’t have knowledge about it. Because they did it record manually or software which management committee are not able to operate. So this create mess in operating the society and may possibility of fraud.
Sometime employee or manager is very honest but he don’t able keep proper record of cash , payment received because society is not able to afford such employee with such skill, so during audit or accounting they don’t have proper record of transaction.
While facing such issue society committee also face internal turbulence as some society’s treasurer or secretary resign from society, because of personal issue or internal committee conflict in such case it’s very hard to understand what kind of mess he left in accounting record. In such cases society can’t stop its daily operating for smooth functioning of society , to avoid hard-hit problem society are facing society’s should use a software.
There are so many software available in market but I would like to suggest.
It’s very Responsive on speed, Simple to use, Affordability is best in competition. Also very good training and support by relationship manager.
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