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Optimizing the Purchase and Inventory Store Cycle in FalconPro Real Estate Software

Introduction

Managing purchases and inventory efficiently is crucial for real estate businesses. FalconPro Real Estate Software provides a comprehensive purchase and inventory store cycle, allowing businesses to streamline procurement, track material requests, and optimize supplier management. This article explains the purchase and inventory process in FalconPro Real Estate Software, ensuring real estate professionals can handle materials efficiently while maintaining accurate financial records.

Understanding the Purchase and Inventory Cycle in FalconPro Real Estate Software

FalconPro Real Estate Software simplifies the procurement and inventory cycle through a structured process that includes setup, purchase requests, approvals, deliveries, and payment handling. The system ensures accuracy in tracking materials, reduces inefficiencies, and integrates financial data seamlessly.

1. Setting Up Purchase and Inventory Accounts

Before initiating any purchase transactions, it is essential to configure the system’s financial accounts. FalconPro Real Estate Software allows users to:

Define material purchase accounts, ensuring accurate expense tracking.
Assign store accounts for asset categorization.
Manage sales accounts for items sold.
Configure discount accounts for purchase and sales-related transactions.

These accounts play a pivotal role in linking inventory movements with financial records, ensuring transparency and accuracy.

2. Configuring Material Categories and Groups

FalconPro Real Estate Software enables businesses to classify materials using categories and groups:

Each material category can have dedicated accounts for purchases, issues, and profits.
Groups define how materials are handled financially, allowing flexibility in accounting.
The system provides predefined real estate-related items, reducing the need for manual setup.

By organizing materials into structured groups, businesses can ensure better tracking and reporting.

3. Managing Material Setup and Item Creation

The material setup module in FalconPro Real Estate Software allows users to:

Define new items by entering descriptions, selecting units, and setting up prices.
Track existing materials, including available quantities and transaction histories.
Set initial balances and default prices for better financial forecasting.
Choose whether to track stock balances or allow purchases without stock restrictions.

Proper material setup ensures seamless procurement and inventory tracking.

4. Creating Material Purchase Requests

To procure materials efficiently, FalconPro Real Estate Software allows users to generate Material Purchase Requests (MPRs):

Select requesters (employees, technicians, or watchmen).
Define the required materials for specific buildings or units.
Specify required delivery dates and quantities.
Set up reminders for approvals and confirmations.

Purchase requests streamline procurement by ensuring all purchases are documented and approved before proceeding.

5. Requesting and Comparing Supplier Quotations

Once a purchase request is created, businesses can send quotation requests to suppliers:

Compare multiple supplier offers based on price and terms.
Select the most competitive supplier based on automated recommendations.
Attach documents, reminders, and conditions for transparency.

FalconPro Real Estate Software highlights the most cost-effective supplier, reducing costs and improving procurement efficiency.

6. Generating Local Purchase Orders (LPOs)

After selecting a supplier, the system allows users to create Local Purchase Orders (LPOs):

Link LPOs to approved material purchase requests.
Include supplier details, terms, and conditions.
Attach supporting documents for record-keeping.

LPOs serve as a formal contract between the business and suppliers, ensuring that procurement processes are transparent and documented.

7. Managing Material Deliveries from Suppliers

Once materials arrive, FalconPro Real Estate Software facilitates material delivery processing:

Verify received quantities against purchase orders.
Adjust stock balances automatically.
Print delivery receipts for documentation.

Material deliveries ensure that inventory is updated accurately, avoiding discrepancies between ordered and received goods.

8. Processing Payable Invoices

FalconPro Real Estate Software simplifies invoice management by:

Generating invoices automatically from material deliveries.
Linking payable invoices to supplier accounts.
Allowing manual invoice creation if required.

Efficient invoice processing ensures timely payments and financial accuracy.

9. Handling Material Returns to Suppliers

If materials do not meet the required standards, the system allows users to:

Select a previously received purchase order or delivery.
Process material returns seamlessly.
Update financial records accordingly.

This functionality prevents incorrect inventory accumulation and ensures suppliers are held accountable for quality.

10. Managing Internal Material Requests from Store

In addition to supplier purchases, FalconPro Real Estate Software enables users to:

Generate internal material requests for in-house usage.
Assign materials to technicians or employees for specific properties.
Track requested items and issue materials from stock.

This feature ensures materials are allocated properly within the organization.

11. Issuing Materials from Store

Once an internal request is approved, users can:

Select the required materials.
Allocate them to designated employees or locations.
Track material movements to ensure stock control.

Proper issuance tracking reduces material waste and prevents unauthorized usage.

12. Handling Material Returns to Store

If issued materials are unused or need to be returned, FalconPro Real Estate Software enables users to:

Reverse material issues and return items to stock.
Generate return documents for record-keeping.
Maintain accurate inventory levels.

This feature ensures that materials are not wasted and can be reused efficiently.

13. Tracking Purchase and Inventory Reports

FalconPro Real Estate Software provides comprehensive reporting tools to:

Monitor purchase requests, approvals, and supplier transactions.
Track material movements, including issues and returns.
Generate supplier performance reports for better decision-making.

With these reports, businesses can ensure transparency and optimize inventory management.

Conclusion

FalconPro Real Estate Software offers a seamless and efficient purchase and inventory management system for real estate businesses. By automating material requests, supplier interactions, deliveries, and financial transactions, FalconPro Real Estate Software ensures accuracy, transparency, and cost-effectiveness in procurement operations. Businesses can manage their real estate assets efficiently while reducing financial discrepancies.

FAQs

1. How does FalconPro Real Estate Software help manage supplier quotations?

FalconPro allows users to request multiple supplier quotations, compare prices, and select the best supplier automatically.

2. Can FalconPro Real Estate Software handle material returns?

Yes, users can process returns to suppliers or store returns, ensuring accurate inventory tracking.

3. How does the system prevent unauthorized material issuance?

FalconPro requires approval for material issuance and allows businesses to track material movements to prevent misuse.

4. Can FalconPro generate automatic payable invoices?

Yes, invoices can be generated automatically based on material deliveries, ensuring seamless payment processing.

5. Does FalconPro provide detailed inventory reports?

Yes, FalconPro offers comprehensive reporting tools to track material requests, purchases, deliveries, and stock levels.

Important Links

SEO Metadata

Focus Keyphrase: real estate property management software
SEO Title: Optimizing Purchase and Inventory with FalconPro Real Estate Property Management Software
Slug: purchase-inventory-falconpro-real-estate-software
Meta Description: Learn how FalconPro Real Estate Property Management Software streamlines purchase and inventory cycles for efficient real estate management.

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Comprehensive Guide to FalconPro Real Estate Software Features and Benefits

Introduction

FalconPro Real Estate Software is an all-in-one solution for managing leasing, accounting, maintenance, customer relationships, and property management. Designed for real estate companies, it offers extensive automation, financial tracking, and integration features that enhance efficiency and reduce operational challenges. This guide explores the core features of FalconPro Real Estate Software, showcasing how it simplifies property management and financial workflows.

1. User Management and Access Control

FalconPro Real Estate Software provides flexible user management, allowing admins to:

Create unlimited user accounts with different privilege levels.
Assign access to specific modules (leasing, accounting, legal, maintenance, etc.).
Customize dashboards with relevant financial insights (assets, liabilities, bank balances, etc.).

With user-specific dashboards, property managers can monitor their KPIs and track performance in real time.

2. Smart Alerts and Automated Reminders

To streamline operations, FalconPro Real Estate Software includes an intelligent alert system that helps businesses:

Receive automatic reminders for check submissions, contract renewals, and unpaid installments.
Set up renewal notifications for tenants before 30, 60, or 90 days.
Track employee visa, passport, and Emirates ID expiration dates.

With automated reminders, businesses reduce manual follow-ups and ensure compliance with lease agreements and financial deadlines.

3. Check and Payment Management

FalconPro Real Estate Software includes a Check Management System that:

Tracks post-dated and bounced checks.
Manages replacement checks and installment payments.
Sends automated emails and SMS alerts for bounced checks with applicable fines.
Generates detailed reports on checks cleared, pending, or bounced.

This feature prevents financial mismanagement and ensures real-time tracking of issued and received checks.

4. Lease and Contract Management

The leasing module simplifies contract management by offering:

Digital archiving of rental agreements, Emirates ID, passport, and visa documents.
Automatic rent calculations and due dates.
Integration with check management to track rental payments.
Customizable contract templates for different property types (residential, commercial, retail).

By digitizing lease agreements and automating rent tracking, FalconPro Real Estate Software minimizes paperwork and enhances efficiency.

5. CRM and Customer Interaction Tracking

FalconPro Real Estate Software features a Customer Relationship Management (CRM) module that:

Maintains a detailed contact database for tenants, landlords, and suppliers.
Tracks communication history, including emails, SMS, and phone calls.
Sends bulk notifications for building maintenance, electricity outages, or lease renewals.
Allows property managers to schedule reminders and follow-ups with tenants.

This module improves customer service by centralizing all client interactions in one place.

6. Property and Inventory Management

FalconPro Real Estate Software helps manage properties efficiently through:

Automated property setup and duplication for large-scale portfolios.
Tracking property features, including swimming pools, gyms, and security systems.
Utility bill generation based on meter readings for electricity and water consumption.
Automated commission and service fee calculations for new leases.

With real-time property availability tracking, leasing agents can optimize unit occupancy rates.

7. Web Portal for Maintenance Requests

FalconPro Real Estate Software includes a web-based maintenance portal, enabling tenants to:

Submit maintenance requests online without calling the property manager.
Track the status of their maintenance claims in real time.
Communicate directly with assigned technicians through the system.

Technicians can update service status, ensuring a systematic approach to maintenance tracking.

8. Lead and Prospect Management

The Leads Module in FalconPro Real Estate Software allows real estate businesses to:

Capture leads from advertising portals (Dubizzle, Property Finder, Google Ads).
Assign leads to sales agents for follow-ups.
Send promotional emails and SMS notifications to potential tenants.
Analyze lead sources to optimize marketing budgets.

By tracking lead conversions, businesses can improve their advertising ROI and reduce vacant periods.

9. Visitor and Security Management

FalconPro Real Estate Software includes a Visitor Management System, allowing businesses to:

Track visitors entering properties, including potential tenants and service providers.
Scan Emirates ID for quick visitor registration.
Maintain digital records of all building visitors for security purposes.

This feature improves property security and ensures compliance with safety regulations.

10. Automated Reporting and Financial Insights

FalconPro Real Estate Software provides a comprehensive reporting system, including:

Customizable lease and financial reports.
Monthly and yearly revenue breakdowns.
Expense vs. income analysis per building.
Audit logs and transaction history for compliance tracking.

Businesses can generate reports for landlords, investors, or tax authorities directly from the software.

11. Tax Compliance and Invoice Generation

FalconPro Real Estate Software ensures tax compliance with:

Automated VAT calculations on leases and services.
Direct invoice generation with tax breakdowns.
Integration with UAE Federal Tax Authority regulations.

By automating tax calculations, businesses can reduce errors and streamline financial reporting.

Conclusion

FalconPro Real Estate Software is a powerful, all-in-one solution for real estate businesses, offering seamless leasing, accounting, maintenance, and customer relationship management. With built-in automation, businesses can eliminate manual tracking, reduce financial risks, and enhance operational efficiency. Whether managing residential or commercial properties, FalconPro Real Estate Software ensures complete control over contracts, payments, maintenance, and tenant relations.

FAQs

1. Can FalconPro Real Estate Software manage check payments?

Yes, the system tracks received and issued checks, automates reminders for due dates, and manages bounced checks with replacement options.

2. How does FalconPro Real Estate Software handle lease renewals?

The software sends automated alerts before lease expiration, allowing landlords to follow up with tenants for timely renewals.

3. Is there a CRM system for tracking tenant interactions?

Yes, FalconPro Real Estate Software includes a CRM module that logs all tenant communications, emails, and SMS interactions.

4. Can tenants submit maintenance requests online?

Yes, FalconPro offers a web-based portal where tenants can submit and track maintenance requests without calling the management office.

5. Does FalconPro generate tax invoices?

Yes, FalconPro Real Estate Software automatically generates VAT-compliant tax invoices for all transactions.

Important Links

SEO Metadata

Focus Keyphrase: real estate management software
SEO Title: Comprehensive Guide to FalconPro Real Estate Management Software
Slug: falconpro-real-estate-management-software-guide
Meta Description: Explore FalconPro Real Estate Management Software, the ultimate tool for leasing, accounting, maintenance, and CRM in real estate businesses.

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Mastering the Account Sheet Generator in FalconPro Real Estate Software

Introduction

Efficient financial reporting is crucial for real estate businesses to track revenue, expenses, and overall financial health. FalconPro Real Estate Software simplifies financial management with its Account Sheet Generator, allowing users to generate profit and loss statements, balance sheets, and custom financial reports. This guide explores how to utilize the Account Sheet Generator, customize reports, and streamline accounting operations in FalconPro Real Estate Software.

1. Overview of the Account Sheet Generator

The Account Sheet Generator in FalconPro Real Estate Software is a powerful tool that enables real estate businesses to:

Generate Profit and Loss Statements (linked to expenses and revenues).
Generate Balance Sheets (tracking assets, liabilities, and equity).
Create custom financial reports by selecting specific accounts.
Compare financial performance across multiple accounts or business units.

This feature helps real estate managers and accountants monitor their financial status and make data-driven decisions.

2. Accessing the Account Sheet Generator

To access the Account Sheet Generator:

Navigate to the Administration menu in FalconPro Real Estate Software.
Select Account Sheet Generator from the available options.
By default, you will see two main reports:
- Profit and Loss Statement
- Balance Sheet

Users can modify these reports or create new custom reports based on specific business needs.

3. Customizing Account Sheets

FalconPro Real Estate Software allows users to create and customize account sheets by:

Adding new financial reports with custom account groups.
Selecting specific accounts to compare different financial aspects.
Setting default options such as:
- With or without period selection
- Opening balance inclusion
- Posted vs. unposted transactions
- Detailed vs. summarized view

These settings provide flexibility in financial reporting, ensuring real estate managers can extract relevant data efficiently.

4. Profit and Loss Statements in FalconPro

A Profit and Loss (P&L) Statement in FalconPro Real Estate Software displays all revenues and expenses over a specific period, helping businesses track their financial performance.

How to Generate a Profit & Loss Statement

Open the Account Sheet Generator.
Select Profit and Loss as the report type.
Choose the desired date range (or select “without period” for a lifetime report).
Adjust settings to include or exclude:
- Opening balances
- Unposted transactions
- Transaction details or summaries
Click Generate Report to view the P&L statement.

This report helps businesses assess profitability and identify cost-saving opportunities.

5. Balance Sheet Generation

A Balance Sheet in FalconPro Real Estate Software provides a snapshot of assets, liabilities, and equity, giving businesses a clear view of their financial standing.

How to Generate a Balance Sheet

Open the Account Sheet Generator.
Select Balance Sheet as the report type.
Configure settings such as:
- Period selection (monthly, quarterly, yearly, or custom date range).
- Account groupings for specific financial comparisons.
- Inclusion of opening balances or hidden transaction details.
Click Generate Report to display the balance sheet.

This report ensures real estate businesses maintain accurate financial records and meet compliance requirements.

6. Creating Custom Financial Reports

FalconPro Real Estate Software allows users to create custom financial reports for deeper financial analysis.

Steps to Create a Custom Report

Open Account Sheet Generator.
Click Create New Report.
Name the report (e.g., “Building Revenue Report” or “Leasing Profit Analysis”).
Select accounts related to the custom report (e.g., revenue accounts for different buildings).
Configure settings such as:
- Comparison of multiple accounts (e.g., revenue vs. expenses for different properties).
- Date range settings (specific periods or cumulative data).
- Detailed or summarized report format.
Save the report for future use.
Click Generate Report to view the results.

These reports help businesses track performance across various real estate assets and optimize financial planning.

7. Comparing Financial Performance Across Accounts

The Account Sheet Generator allows users to compare financial data across multiple accounts.

Example Use Cases

Building Revenue Comparison: Compare rental income across multiple properties.
Expense Tracking: Monitor costs related to maintenance, utilities, and property management.
Investment Analysis: Evaluate profitability by analyzing income and expenses per project.

By grouping similar accounts, users can analyze financial trends and make informed investment decisions.

8. Automating Financial Reports

FalconPro Real Estate Software automates financial reporting by:

Allowing users to save report templates for quick access.
Automatically retrieving data from Account Transactions.
Updating reports in real-time as new transactions are recorded.

These automation features save time and ensure reports are always up-to-date.

9. Retrieving Reports from Account Transactions

Users can also generate financial reports directly from Account Transactions:

Navigate to Account Transactions in FalconPro.
Select the relevant accounts.
Apply filters (date range, transaction type, etc.).
Click Generate Report to view financial statements.

This feature provides an alternative way to access financial data without using the Account Sheet Generator.

Conclusion

The Account Sheet Generator in FalconPro Real Estate Software is a powerful tool for financial reporting, allowing businesses to generate Profit and Loss Statements, Balance Sheets, and custom financial reports. By customizing report settings, comparing accounts, and automating data retrieval, real estate companies can optimize their financial operations and make informed business decisions.

FAQs

1. What financial reports can be generated in FalconPro Real Estate Software?

FalconPro allows users to generate Profit and Loss Statements, Balance Sheets, and custom financial reports for tracking revenue, expenses, and financial performance.

2. Can users create customized financial reports in FalconPro?

Yes, users can create custom reports by selecting specific accounts, applying filters, and configuring reporting options.

3. How does the system automate financial reporting?

FalconPro automatically retrieves transaction data, updates reports in real time, and allows users to save report templates for quick access.

4. Can I compare financial data across multiple accounts?

Yes, the Account Sheet Generator allows users to group accounts and compare financial performance across properties, projects, or departments.

5. Where can I access financial reports in FalconPro?

Reports can be generated from the Account Sheet Generator or directly from Account Transactions under the administration menu.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: Mastering Financial Reporting with FalconPro Real Estate Accounting Software
Slug: falconpro-real-estate-accounting-software-reports
Meta Description: Learn how FalconPro Real Estate Accounting Software simplifies financial reporting with automated Profit & Loss Statements, Balance Sheets, and custom reports.

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Sorting Manual and Automatic Journal Vouchers in FalconPro Real Estate Software

Introduction

Proper journal voucher management is essential for maintaining accurate financial records in real estate businesses. FalconPro Real Estate Software provides automatic and manual journal vouchers, enabling users to track financial transactions efficiently. This guide explains how to sort journal vouchers in FalconPro Real Estate Software, ensuring that accounting records are organized and aligned with business preferences.

1. Understanding Journal Vouchers in FalconPro Real Estate Software

FalconPro Real Estate Software provides two types of journal vouchers (JVs):

Automatic Journal Vouchers: System-generated vouchers for transactions such as receipts, payments, and supplier invoices.
Manual Journal Vouchers: Manually entered transactions for adjustments, corrections, or other accounting needs.

Each type of journal voucher follows a sorting structure, which can be configured based on business needs.

2. Sorting Methods for Journal Vouchers

FalconPro Real Estate Software allows users to sort journal vouchers in two ways:

Sorting by Entry Order (Manual Sorting)
Sorting by Account Type (All Debits First, Then All Credits)

Each method applies differently to manual and automatic journal vouchers, providing flexibility in financial reporting.

3. Sorting Automatic Journal Vouchers

Automatic journal vouchers include transactions like:

Receipt Vouchers
Payment Vouchers
Supplier Invoices
Contract Vouchers

By default, automatic journal vouchers are sorted with all debits listed first, followed by all credits. However, FalconPro Real Estate Software allows users to change this setting.

Steps to Sort Automatic Journal Vouchers

Log in as an Admin in FalconPro Real Estate Software.
Navigate to Preferences under the Administration menu.
Locate the option: Sort Automatic Journal Vouchers.
Choose one of the following settings:
- Serial Wise: Displays journal entries in the order they were created (Debit → Credit → Debit → Credit).
- Un-Serial Wise: Groups all debits first, followed by all credits.
Save the changes to apply the new sorting method.

These settings also apply when printing journal vouchers, ensuring that reports match user preferences.

4. Sorting Manual Journal Vouchers

Manual journal vouchers are created by users for specific adjustments or transactions. Unlike automatic vouchers, manual JVs are typically preferred in entry order (Debit → Credit → Debit → Credit) rather than grouped by account type.

Steps to Sort Manual Journal Vouchers

Access the Preferences Menu under Administration.
Locate the option: Sort Manual Journal Vouchers.
Select Entry Order Sorting (recommended for manual JVs).
Save changes to ensure manual vouchers are sorted as entered.

With this setting enabled, the system will maintain the original sequence of transactions rather than grouping all debits first.

5. Printing Sorted Journal Vouchers

Once sorting preferences are applied, the same structure will be reflected when printing journal vouchers. Users can:

Print automatic vouchers sorted by serial or by account type.
Print manual vouchers in the order transactions were entered.
Ensure that reports match internal accounting policies.

By maintaining a clear structure, FalconPro Real Estate Software simplifies auditing and financial reconciliation.

6. Benefits of Sorting Journal Vouchers in FalconPro

Sorting journal vouchers correctly helps real estate businesses:
✅ Maintain consistent financial records.
✅ Reduce errors in ledger balancing.
✅ Improve financial reporting accuracy.
✅ Simplify audit preparation.
✅ Customize accounting reports for better analysis.

By leveraging FalconPro Real Estate Software’s sorting options, businesses can streamline financial transactions and enhance efficiency.

Conclusion

FalconPro Real Estate Software offers flexible sorting options for automatic and manual journal vouchers, ensuring that businesses can organize transactions based on their accounting preferences. Whether sorting by entry order or grouping debits and credits separately, FalconPro enables real estate companies to maintain accurate financial records while improving reporting clarity.

FAQs

1. Can I change the sorting method for both automatic and manual journal vouchers?

Yes, FalconPro Real Estate Software allows users to configure sorting options separately for automatic and manual journal vouchers.

2. What is the default sorting order for automatic journal vouchers?

By default, automatic journal vouchers are sorted with all debits first, followed by all credits. Users can modify this in the Preferences Menu.

3. How do manual journal vouchers get sorted?

Manual journal vouchers are typically sorted as entered (Debit → Credit → Debit → Credit), but this can be adjusted in Preferences.

4. Will these sorting settings affect printed reports?

Yes, the sorting preferences apply to both viewing and printing journal vouchers, ensuring consistency in reports.

5. How does sorting journal vouchers improve financial management?

Proper sorting helps in ledger accuracy, audit preparation, and financial report generation, reducing errors and improving transaction visibility.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: Sorting Journal Vouchers in FalconPro Real Estate Accounting Software
Slug: sorting-journal-vouchers-falconpro-accounting-software
Meta Description: Learn how to sort automatic and manual journal vouchers in FalconPro Real Estate Accounting Software for better financial organization and reporting.

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How to Collect Money for Old Owners in FalconPro Real Estate Software

Introduction

In real estate transactions, there are situations where property management companies collect money on behalf of previous property owners (old landlords) and later settle payments with them. FalconPro Real Estate Software simplifies this process by allowing businesses to track these collections accurately through the chart of accounts and receipt management system. This guide explains how to set up accounts, record collections, and process payments for old property owners using FalconPro Real Estate Software.

1. Setting Up an Account for Old Owners

To manage collected funds for previous property owners, you must create a dedicated account in FalconPro Real Estate Software.

Steps to Create an Account for Old Owners:

Go to the Chart of Accounts
- Navigate to Administration → Chart of Accounts.
- Locate Creditors, which is at the same level as Suppliers.
Create a New Account
- Click on New.
- Name the account (e.g., Collected for Old Owners).
- Set this account under Liabilities, ensuring it tracks funds collected for old landlords.
Save the Account

This account will be used to temporarily hold the collected funds until they are transferred to the old owner.

2. Creating a Fees Item for Old Owners

To properly categorize collections in contracts, FalconPro Real Estate Software requires creating a Fees Item linked to the newly created liability account.

Steps to Create a Fees Item:

Go to Administration → Master Files → Accounts.
Select “Fees Item” from the available options.
Create a New Fees Item
- Name it Collected for Old Owners (or a preferred name).
- Set the Category as “Others”.
- Link it to the “Collected for Old Owners” liability account created in Step 1.
Save the Item

This ensures that when money is collected for old landlords, it is correctly categorized and does not mix with new property revenue.

3. Recording a Contract with Collected Amount for Old Owners

When creating a new contract for a building that had a previous owner, FalconPro Real Estate Software allows you to specify the portion of rent that belongs to the old owner.

Steps to Record the Contract:

Create a New Contract
- Set the Contract Start Date as the date the new ownership begins.
- Define only the actual rent revenue that will be received by the new owner.
Add a Line Item for Old Owner Collections
- Select the Collected for Old Owners fees item.
- Enter the amount collected on behalf of the old owner.
Save the Contract

Now, FalconPro will separate the collected amount for old owners from the new rent income, ensuring financial clarity.

4. Processing Rent Collection and Allocating Payments

When collecting rent payments that include amounts for both the new owner and old owner, FalconPro Real Estate Software allows users to merge them in one receipt.

Steps to Collect Rent Including Old Owner’s Amount:

Create a Receipt for Rent Collection
- Go to Receipts and create a new entry.
- Enter the total rent amount including:
  - The portion for the new owner (e.g., 15,000 AED)
  - The portion collected for the old owner (e.g., 3,000 AED)
Specify Payment Mode
- If the payment is made via a single check, enter the full amount under one check entry.
- If multiple installments are received, specify them accordingly.
Allocate the Collected Amount
- Select Collected for Old Owners for the relevant portion.
- Ensure that the new owner’s revenue is recorded under regular rental income.
Save the Receipt

Once saved, FalconPro Real Estate Software will automatically credit the Collected for Old Owners liability account with the amount collected.

5. Settling Payments to Old Owners

After collecting money for old landlords, the next step is to transfer the collected funds to them. FalconPro Real Estate Software enables this via the payment module.

Steps to Pay the Old Owner:

Create a Payment Entry
- Navigate to Payments in FalconPro.
- Select the Collected for Old Owners account as the payment source.
Enter the Amount to Transfer
- Match the amount collected (e.g., 3,000 AED) to ensure the account balance returns to zero.
Save and Process the Payment

Once the payment is recorded, the liability account balance becomes zero, ensuring accurate financial tracking.

6. Financial Impact of Collecting Money for Old Owners

Tracking collections and payments using FalconPro Real Estate Software helps businesses maintain transparent financial records and ensures that:
✅ The correct owner receives the due amount.
✅ Rental revenue is correctly accounted for.
✅ Liability accounts reflect accurate balances.
✅ Payments made to old owners do not mix with business revenue.

By following these structured steps, businesses can avoid accounting discrepancies while handling ownership transitions smoothly.

Conclusion

FalconPro Real Estate Software provides an efficient solution for handling collections for old owners, ensuring proper financial management. By creating separate accounts, categorizing transactions correctly, and tracking payments, real estate businesses can ensure transparency and accuracy in their accounting practices.

FAQs

1. Why do I need to create a separate account for old owners?

A separate liability account ensures that collected funds for previous landlords are correctly recorded and do not mix with revenue.

2. Can I use one check to collect money for both the new and old owner?

Yes, FalconPro allows users to merge both amounts into one receipt, ensuring proper allocation.

3. What happens if I forget to transfer the old owner’s amount?

The collected amount will remain in the Collected for Old Owners liability account until it is paid, preventing incorrect reporting.

4. Can FalconPro Real Estate Software generate reports on old owner collections?

Yes, users can generate financial reports to track how much has been collected and paid to old landlords.

5. How does FalconPro ensure financial transparency in ownership transitions?

By keeping old owner collections separate from new owner revenue, FalconPro Real Estate Software maintains accurate financial records and ensures compliance with lease agreements.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: How to Collect Money for Old Owners in FalconPro Real Estate Accounting Software
Slug: collect-money-old-owners-falconpro-real-estate-accounting-software
Meta Description: Learn how FalconPro Real Estate Accounting Software helps real estate businesses collect and pay money for old property owners while maintaining accurate records.

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Setting Up Received Cheques Building-Wise in FalconPro Real Estate Software

Introduction

Managing received cheques efficiently is essential for real estate companies that handle multiple properties. FalconPro Real Estate Software provides a feature that allows businesses to track received cheques building-wise or assign cash collections per building or user. This guide explains how to configure cheque collection settings per building, ensuring that financial records remain structured and accurate.

1. Understanding Building-Wise Cheque Collection in FalconPro

In FalconPro Real Estate Software, businesses can:

Create separate accounts for cheque collections per building.
Assign different cheque collection accounts for different property owners.
Link cheque deposits and cash receipts to specific buildings.
Differentiate between managed buildings, owned buildings, and investment properties.

This feature ensures proper financial categorization and reporting for each property.

2. Setting Up Cheque Collection Accounts for Buildings

To enable building-wise cheque collection, users must configure accounts in the Master Accounts Settings.

Steps to Configure Building-Wise Cheque Collection:

Navigate to Administration → Master Accounts.
Locate the Default “Received Cheques” Account.
- By default, FalconPro Real Estate Software assigns a general Received Cheques account.
- If no custom accounts are set up, all received cheques will be stored under this default account.
Create a New Account for a Specific Building:
- Double-click on the “Received Cheques” account.
- Click New to create an account specific to a building (e.g., Received Cheques – FALCON01).
- Assign it under Assets or Liabilities, based on business accounting practices.
Link the New Account to a Specific Building:
- Select the Admin User in the account settings.
- Double-click on the Building Name and select the relevant building (e.g., F01).
- Choose the new Received Cheques – F01 account.
- Click Save to apply changes.

Now, any cheque received for Building F01 will be recorded under the correct account instead of the default account.

3. Testing the Cheque Collection Setup

To confirm that the setup is correct:

Open a contract for Building F01.
Generate a Receipt for a cheque payment.
Check if the system assigns the Received Cheques – F01 account automatically.

If the cheque is recorded under the default Received Cheques account instead of Received Cheques – F01, recheck the Master Accounts Setup and ensure that the correct building is linked.

4. Configuring Cheque Collection for Multiple Buildings

If multiple buildings belong to the same owner, FalconPro Real Estate Software allows users to link a single cheque collection account to multiple properties.

Steps to Link a Cheque Account to Multiple Buildings:

Navigate to the Master Accounts Section.
Select “Received Cheques” and Add Multiple Buildings:
- Assign the same Received Cheques Account to multiple buildings.
- Example: Assign F01, F06, and F30 to the same account if they belong to one owner.
Save Settings.

Now, whenever a cheque is received for any of these buildings, the amount will be recorded in the same cheque account.

5. Setting Up Cash Collection Per Building

In addition to cheque collections, FalconPro Real Estate Software allows users to configure cash collections separately per building.

Steps to Configure Cash Collection Per Building:

Navigate to Master Accounts.
Double-click on the “Cash” Account.
Assign the Cash Account to a Specific Building:
- Select a building (e.g., F01).
- Link it to a separate cash collection account.
- Example: Cash Collection – F01 for all cash payments related to that building.
Save the Settings.

Now, all cash received for Building F01 will be tracked separately from other buildings.

6. Setting Up Cheque Collection Per User

For businesses that manage cheque collection based on specific employees, FalconPro Real Estate Software allows cheque collection to be set up per user instead of per building.

Steps to Configure Cheque Collection Per User:

Navigate to Master Accounts.
Double-click on “Received Cheques.”
Assign the Account to a Specific User:
- Select the User Name (e.g., Ali).
- Link it to a dedicated cheque collection account.
Save the Settings.

Now, whenever User Ali collects a cheque, it will be recorded in his assigned account rather than the building’s default account.

7. Setting Up Cash Collection Per User

If cash collections need to be assigned to specific employees, FalconPro Real Estate Software allows users to configure this setting as well.

Steps to Assign Cash Collection Per User:

Go to Master Accounts.
Double-click on “Cash Collection.”
Assign a User (e.g., Ali) to a Specific Cash Collection Account.
Save the Settings.

Now, all cash transactions collected by Ali will be recorded in the designated cash collection account.

8. Benefits of Building-Wise and User-Wise Cheque Management

By implementing building-wise and user-wise cheque collection, real estate businesses can:
✅ Ensure financial transparency across multiple properties.
✅ Track cheque deposits accurately per building.
✅ Assign cash and cheque receipts to specific property owners.
✅ Improve financial reporting with detailed tracking.
✅ Prevent accounting errors and mix-ups between different properties.

Conclusion

FalconPro Real Estate Software provides a robust cheque and cash collection system that allows businesses to manage received payments building-wise or user-wise. By setting up separate cheque collection accounts for each building or employee, businesses can maintain accurate financial records and ensure proper allocation of funds.

FAQs

1. Can I link multiple buildings to one cheque collection account?

Yes, FalconPro allows users to assign the same Received Cheques Account to multiple buildings owned by the same landlord.

2. What happens if I do not set up a building-wise cheque account?

If no specific building account is set up, FalconPro will record all cheque collections under the default “Received Cheques” account.

3. Can I assign cheque collections to a specific employee instead of a building?

Yes, FalconPro allows businesses to configure cheque collection per user, ensuring specific employees are responsible for tracking payments.

4. How do I verify that my cheque collection setup is working correctly?

After setting up cheque accounts, create a test receipt and check if the correct cheque account is assigned.

5. Can FalconPro Real Estate Software generate reports for building-wise cheque collections?

Yes, FalconPro provides detailed financial reports that show cheque and cash collections for each building or user.

Important Links

SEO Metadata

Focus Keyphrase: real estate property management software
SEO Title: Setting Up Building-Wise Cheque Collection in FalconPro Real Estate Property Management Software
Slug: building-wise-cheque-collection-falconpro-real-estate-software
Meta Description: Learn how FalconPro Real Estate Property Management Software enables building-wise cheque collection, ensuring accurate financial tracking for real estate businesses.

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How to Book a New Flat and Complete the Contract in FalconPro Real Estate Software

Introduction

FalconPro Real Estate Software simplifies the flat booking process and ensures seamless transition from booking to contract completion. This guide explains how to register a new booking, collect a deposit, and convert the booking into a lease contract while keeping all financial transactions linked.

1. Booking a New Flat in FalconPro Real Estate Software

Booking a unit is the first step before finalizing a contract. FalconPro Real Estate Software allows users to book a flat temporarily, hold it for maintenance, or block it for management decisions.

Steps to Book a Flat:

Select the Flat for Booking
- Navigate to the Property Inventory section.
- Click on the available flat/unit (e.g., Flat 106).
- Click New to create a new transaction.
Choose the Booking Option
- When prompted, select New Booking instead of New Contract.
- Click OK to proceed.
Enter Booking Details
- Booking Duration: Specify the period (e.g., 1 week).
- Booking Amount: Enter the required deposit (e.g., 5,000 AED).
- Tenant Details:
  - Select an existing tenant from the database or create a new tenant record.
- Booking Reason (Optional): Choose a reason for booking (can be defined in Administration → Master Files).
Confirm Booking Status
- If the unit is held for maintenance, mark the booking as a “Hold”.
- For a regular booking, leave the status as “Active”.
- Click OK to save the booking.

The system assigns a booking number and updates the unit status as Booked.

2. Receiving the Booking Payment

After booking, the tenant needs to pay the booking deposit, which is usually collected as cash or check.

Steps to Receive the Booking Payment:

Open the Booking Receipt
- Click Receipt in the booking window.
- The system will automatically display the booking amount (e.g., 5,000 AED).
Select Payment Mode
- Default mode is Cash, but other payment options (check, transfer) are available.
Finalize and Save the Receipt
- Verify tenant details.
- Click Save to confirm receipt.

Once saved, FalconPro Real Estate Software:
✅ Marks the booking as financially settled.
✅ Stores the payment receipt in the system.
✅ Links the booking deposit to the tenant’s record.

3. Retrieving the Booking Details

To review or manage an existing booking:

Navigate to Property Inventory → Booking.
Retrieve the required booking by searching for the flat number or tenant name.
Verify the Booking Status (Active, Completed, or Canceled).

4. Completing the Booking and Creating a Lease Contract

Once the tenant decides to proceed, the booking can be converted into a lease contract.

Steps to Complete the Contract for a Booked Unit:

Go to Property Inventory → Property Search.
Retrieve the Booked Unit.
Click on the Booking and Select “New Contract”.

At this stage, FalconPro will automatically:
✅ Retrieve tenant details from the booking record.
✅ Carry forward the booking amount as an advance payment.
✅ Update the remaining contract balance.

5. Finalizing the Lease Contract

Enter Rent and Installments
- Specify the total contract rent (e.g., 30,000 AED).
- Since 5,000 AED was already collected as a booking deposit, the system will adjust the due amount to 25,000 AED.
- Choose the number of installments (e.g., 4 payments).
Save the Lease Contract
- Click Save to finalize the contract.
- The system automatically updates:
  ✅ Booking Status → “Completed”.
  ✅ Booking Receipt → Linked to the New Contract.
  ✅ Tenant’s Financial Ledger → Reflects Updated Dues.

6. Verifying the Contract Completion

After completing the contract, FalconPro Real Estate Software ensures financial consistency:

Booking Status Changes to “Completed”
The Booking Receipt Now Displays the Contract Number
General Voucher (GV) for Booking is Updated

To verify:

Go to Property Inventory → Booking → Retrieve the Booking.
Check that the status is marked as “Completed” and the contract details are linked.

7. Financial Impact of Booking and Contract Completion

✅ Ensures deposits are correctly accounted for in financial reports.
✅ Reduces manual data entry by automatically linking booking and contract payments.
✅ Prevents double entry errors in financial statements.
✅ Improves lease tracking and occupancy rate management.

Conclusion

FalconPro Real Estate Software simplifies flat booking and contract finalization, ensuring accurate tracking of tenant deposits, contract balances, and financial records. By automating the transition from booking to contract, businesses can minimize errors, reduce workload, and improve tenant management.

FAQs

1. Can I retrieve a booking after it has been completed?

Yes, FalconPro allows users to view completed bookings, which are linked to the lease contract.

2. What happens if the tenant cancels the booking?

The booking remains in the system, and the booking deposit can be refunded or adjusted based on company policy.

3. Can FalconPro track multiple installment payments for the contract?

Yes, the system automatically calculates the remaining balance after deducting the booking deposit and tracks multiple installment payments.

4. How do I ensure the booking amount is deducted from the total rent?

When completing the contract, the system automatically subtracts the booking deposit from the total rental value.

5. Can FalconPro generate reports for all active and completed bookings?

Yes, users can generate reports for active, completed, and canceled bookings directly from the Property Inventory Module.

Important Links

SEO Metadata

Focus Keyphrase: real estate management system
SEO Title: Booking a Flat and Completing the Contract in FalconPro Real Estate Management System
Slug: booking-flat-contract-falconpro-real-estate-management
Meta Description: Learn how to book a flat, receive payments, and complete lease contracts in FalconPro Real Estate Management System. Automate rental transactions efficiently.

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How to Receive and Manage Guarantee Cheques in FalconPro Real Estate Software

Introduction

Guarantee cheques play a crucial role in real estate lease agreements, serving as security deposits that are held without being cashed. FalconPro Real Estate Software allows businesses to receive, track, and manage guarantee cheques without affecting installment payments. This guide explains how to properly record guarantee cheques while ensuring that rental installments remain unaffected and trackable.

1. What is a Guarantee Cheque in Real Estate?

A guarantee cheque is a cheque provided by a tenant as security for lease payments. Unlike regular rent payments:
✅ It is not deposited in the bank.
✅ It does not affect the lease payment installments.
✅ It is held until all installments are paid.

This ensures that the landlord has financial security in case the tenant defaults on payments.

2. Receiving a Guarantee Cheque in FalconPro Real Estate Software

In FalconPro, guarantee cheques are registered as a separate fee item, ensuring that they do not interfere with rental income tracking.

Steps to Register a Guarantee Cheque in a Contract:

Open the Lease Contract
- Navigate to Leasing → Contracts and select the active contract.
Add a New Fee Item
- Click Add New Item.
- Search for Guarantee Cheque in the fee item list.
- If the item does not exist, it can be created in the Master Files (explained in the next section).
Enter the Guarantee Cheque Amount
- Example: If the contract value is 30,000 AED, the guarantee cheque can be 30,000 AED.
Save the Contract
- The guarantee cheque is now recorded in the system.

3. Recording the Guarantee Cheque Receipt

Once the guarantee cheque is added to the contract, the next step is to record it as received without marking it as a paid installment.

Steps to Record the Receipt:

Click on “Receipt” in the contract.
Select All Payment Items (including rent installments and the guarantee cheque).
Unselect the Guarantee Cheque and delete all other installment selections.
Process the Guarantee Cheque Receipt
- Select the Bank Name where the cheque is held.
- Mark the cheque as “Received Against Guarantee”.
- Ensure that the date is removed (optional) to keep it outside the installment schedule.
Save the Receipt

✅ The guarantee cheque is now recorded in the system but not marked as rent payment.
✅ Installment payments remain due and will be tracked separately.

4. Tracking Installments While Holding a Guarantee Cheque

FalconPro ensures that rent installments remain separate from the guarantee cheque, allowing landlords to track unpaid dues accurately.

How the System Works:

The guarantee cheque remains in the system but does not trigger rent payment alerts.
Installments remain due and are automatically reminded when they reach their due date.
When a tenant makes a payment, FalconPro allows users to:
✅ Select the specific installment to pay.
✅ Keep the guarantee cheque active until all installments are cleared.

5. Completing the Rental Payments and Releasing the Guarantee Cheque

Once all installments are paid, the landlord can choose to release or cancel the guarantee cheque.

Steps to Release the Guarantee Cheque:

Confirm That All Installments Are Paid
- Go to the Tenant’s Payment Ledger.
- Ensure all due amounts have been settled.
Cancel the Guarantee Cheque
- Open the Contract and Fees Section.
- Locate the Guarantee Cheque Fee Item.
- Remove it from the system.
Save the Contract Update

✅ The guarantee cheque is now removed, and the lease payments are fully completed.

6. Setting Up Guarantee Cheque as a Fee Item (If Not Available)

If the Guarantee Cheque fee item does not appear in the system, it must be created manually.

Steps to Create a Guarantee Cheque Fee Item:

Navigate to Administration → Master Files → Fees Items.
Click on “New” to Add a New Fee Item.
Name the Fee Item as “Guarantee Cheque”.
Assign It to the Correct Financial Category.
- Example: Categorize it under Liabilities to indicate that the cheque is held temporarily.
Save the Fee Item.

Once created, this fee item will be available when adding guarantee cheques to lease contracts.

7. Benefits of Properly Managing Guarantee Cheques

By handling guarantee cheques separately from rent installments, FalconPro Real Estate Software ensures:
✅ Proper financial tracking without affecting rental income.
✅ Installments remain due until fully paid.
✅ The system reminds landlords when installments are overdue.
✅ Guarantee cheques are securely held without affecting bank transactions.
✅ Easy release of guarantee cheques once all payments are settled.

Conclusion

FalconPro Real Estate Software offers a structured way to handle guarantee cheques, ensuring that they do not interfere with installment tracking. By properly registering, tracking, and releasing guarantee cheques, real estate businesses can maintain accurate financial records while safeguarding against tenant defaults.

FAQs

1. What happens if a tenant defaults on rent payments?

The landlord can use the Guarantee Cheque as security and proceed with legal action if necessary.

2. Can FalconPro automatically notify when an installment is due?

Yes, FalconPro Real Estate Software generates automatic alerts when an installment is due.

3. How do I release a guarantee cheque after the tenant completes all payments?

Once all installments are paid, remove the Guarantee Cheque Fee Item from the contract to indicate its release.

4. Can the guarantee cheque be deposited into the bank?

No, guarantee cheques are held as security deposits and are not deposited unless needed due to payment default.

5. Where can I track all received guarantee cheques?

Go to Reports → Cheque Management to view a list of all received and active guarantee cheques.

Important Links

SEO Metadata

Focus Keyphrase: real estate rental software
SEO Title: Managing Guarantee Cheques in FalconPro Real Estate Rental Software
Slug: managing-guarantee-cheques-falconpro-real-estate-rental-software
Meta Description: Learn how FalconPro Real Estate Rental Software helps track and manage guarantee cheques separately from rental installments for accurate financial tracking.

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How to Cancel Rent Revenue Voucher When Unable to Terminate Leasing in FalconPro Real Estate Software

Introduction

In FalconPro Real Estate Software, terminating a lease contract requires ensuring that all rent revenue vouchers related to the contract do not conflict with the termination date. If a lease termination attempt fails due to previously posted revenue vouchers, users must cancel or reverse these vouchers before proceeding. This guide explains the steps to identify, cancel, and unpost rent revenue vouchers to enable successful lease termination.

1. Understanding the Issue: Why Lease Termination Fails

If a user tries to terminate a lease contract before a certain date, but rent revenue vouchers have already been posted for a later period, the system prevents contract termination.

Example Scenario:

A user attempts to terminate a contract on July 17, 2023.
However, a rent revenue voucher was posted on July 31, 2023.
The system does not allow termination because revenue was recognized for a period beyond the termination date.
The solution is to cancel the revenue voucher and unpost it from the accounting module.

2. Identifying the Rent Revenue Voucher Causing the Issue

Before cancellation, users must locate the specific revenue voucher preventing lease termination.

Steps to Find the Rent Revenue Voucher:

Navigate to Rent Revenues
- Go to Leasing → Rent Revenues in FalconPro Real Estate Software.
Search for the Contract Number
- Enter the contract number (e.g., 569).
- Click Show Created Vouchers to display all vouchers associated with the contract.
Identify the Relevant Voucher
- Look for the voucher with a date beyond the termination date.
- Example: If the termination date is July 17, 2023, but a voucher exists for July 31, 2023, this is the problem.

Once identified, the next step is to cancel and unpost the revenue voucher.

3. Cancelling the Rent Revenue Voucher

After locating the voucher, users must cancel it from the same module where it was created.

Steps to Cancel the Rent Revenue Voucher:

Select the Voucher to Be Cancelled
- In the Rent Revenues Module, locate the voucher for the contract (e.g., Contract 569).
Click on “Cancel Voucher”
- The system will prompt a confirmation message.
- Click Yes to proceed.
Error Message: “Voucher is Posted in Accounting”
- If the system does not allow cancellation, it means the voucher was already posted in accounting.
- The next step is to unpost the voucher from the accounting system.

4. Unposting the Rent Revenue Voucher in Accounting

Since the revenue voucher is posted, it must be unposted (reversed) in accounting before it can be canceled.

Steps to Unpost the Revenue Voucher in Accounting:

Find the Revenue Voucher Number
- The error message will provide the voucher number (e.g., 6499).
- If not visible, go to Accounting → General Vouchers (GVs) and search by:
  ✅ Voucher Number (e.g., 6499).
  ✅ Contract Number (e.g., 569).
Select the Voucher and Click “Unpost”
- Once the voucher is found, mark it and click Unpost.
- The voucher will now be removed from the posted accounting records.

After unposting, the rent revenue voucher is no longer locked, allowing it to be canceled in the rent revenues module.

5. Finalizing the Cancellation and Terminating the Lease

Once the revenue voucher is unposted, the final step is to cancel it and proceed with lease termination.

Steps to Cancel and Terminate the Lease:

Return to Rent Revenues Module
- Navigate back to Leasing → Rent Revenues.
Select the Previously Unposted Voucher
- Locate the voucher (e.g., 6499) and click Cancel Voucher.
Verify That the Voucher is Removed
- The system should now allow the cancellation without errors.
Terminate the Lease Contract
- Navigate to Leasing → Lease Contracts.
- Select the contract (e.g., 569) and click Terminate.

✅ The lease contract can now be terminated successfully!

6. Best Practices for Managing Rent Revenue Vouchers in FalconPro

To prevent termination issues in the future:
✅ Regularly review posted revenue vouchers before terminating contracts.
✅ Ensure lease termination dates align with revenue recognition periods.
✅ Check accounting records before canceling vouchers to avoid conflicts.
✅ Use the contract number to track all associated transactions before making adjustments.

Conclusion

FalconPro Real Estate Software ensures financial accuracy by restricting lease termination if revenue has already been recognized for a later period. By following the steps to identify, cancel, and unpost revenue vouchers, users can successfully terminate lease contracts without accounting conflicts.

FAQs

1. Why am I unable to terminate a lease contract?

If rent revenue vouchers are posted beyond the termination date, FalconPro Real Estate Software will prevent contract termination until those vouchers are canceled.

2. How do I find which voucher is causing the issue?

Go to Rent Revenues, enter the contract number, and check for vouchers with dates later than the termination date.

3. What does “Voucher is Posted in Accounting” mean?

This means the revenue voucher is locked in the accounting module and must be unposted before cancellation.

4. What happens if I unpost a voucher in accounting?

Unposting removes the voucher from accounting records, allowing it to be canceled in the rent revenues module.

5. Can FalconPro generate reports of all active and posted vouchers?

Yes, reports can be generated in the Accounting and Rent Revenue Modules to track posted, unposted, and pending revenue vouchers.

Important Links

SEO Metadata

Focus Keyphrase: real estate management system
SEO Title: How to Cancel Rent Revenue Vouchers in FalconPro Real Estate Management System
Slug: cancel-rent-revenue-voucher-falconpro-real-estate-management
Meta Description: Learn how to cancel rent revenue vouchers in FalconPro Real Estate Management System to enable lease contract termination. Step-by-step guide for users.

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How to Set Up Expense Distribution and Generate Automatic Vouchers in FalconPro Real Estate Software

Introduction

Expense management is crucial for real estate businesses, and FalconPro Real Estate Software provides an efficient way to automate expense distribution through the Accounts Report Generator and Adjustment Vouchers. This guide explains how to:
✅ Set up expense distribution for automated reporting.
✅ Generate monthly adjustment vouchers for financial tracking.
✅ Ensure proper allocation of expenses across different accounts and cost centers.

1. Understanding Expense Distribution in FalconPro

FalconPro allows users to distribute expenses automatically across different accounts and cost centers by:

Setting up expense distribution reports in the Accounts Report Generator.
Generating adjustment vouchers for monthly or periodic expense allocation.
Applying percentage-based distributions to different cost centers.

This ensures that expenses are recorded accurately and consistently in financial reports.

2. Setting Up Expense Distribution Reports

To automate expense distribution, users must first configure the Accounts Report Generator.

Steps to Set Up an Expense Distribution Report:

Go to Administration → Accounts Report Generator.
Create a New Report:
- Click Add New Report.
- Enter a Report Name (e.g., Office Expenses Distribution).
- Mark “For Adjustment” (this ensures it appears in adjustment vouchers).
- Mark “Show in Reports” (this makes the report available for review).
Define Account Categories:
- Add expense accounts that will be part of the distribution.
- Choose whether to include master accounts (parent accounts) or specific child accounts.
- Ensure that all child accounts under a main expense category are included if required.
Assign Distribution Method:
- Set the debit and credit rules for expense allocation.
- Example: If an expense is normally recorded as debit, FalconPro will allocate it as credit in the distribution.

✅ At this stage, the system knows which accounts are part of expense distribution.

3. Configuring Expense Percentages and Cost Centers

Once expense accounts are set, the next step is to define how expenses will be distributed using percentages.

Steps to Assign Percentages:

Add Distribution Percentage for Each Account:
- Example: 9% of total office expenses is allocated to a specific department.
Assign Cost Centers:
- Cost centers can be configured based on:
  ✅ Departments (e.g., Sales, Admin, Finance, etc.)
  ✅ Buildings or Properties (e.g., Building A, B, C, etc.)
Ensure the Total Percentage Equals 100%
- The total expense allocation must sum to 100% to ensure correct reporting.

✅ FalconPro will now split expenses automatically based on the assigned percentages and cost centers.

4. Viewing the Expense Distribution Report

After setting up distribution rules, users can generate reports to verify the expense allocation.

Steps to View Expense Distribution Reports:

Go to Reports → Accounts Report Print.
Select the Expense Distribution Report.
Choose the Reporting Period (e.g., monthly, quarterly, yearly).
Click Retrieve to Generate the Report.
Verify That Expense Allocations Are Correct.
- Example: If the total office expense is 54,914.2 AED, the report will split this amount based on the assigned percentages (e.g., 9% to cost center A, 5% to cost center B, etc.).

✅ At this point, expense distribution is correctly set up, and the system is ready to generate automatic vouchers.

5. Creating Automatic Adjustment Vouchers for Expense Distribution

To automate the monthly allocation of expenses, users must configure adjustment vouchers.

Steps to Set Up Adjustment Vouchers:

Go to Administration → Adjustment Voucher Setup.
Click “Add New” to Create an Adjustment Voucher Plan.
Select the Expense Distribution Report.
- Since the report was marked “For Adjustment”, it will appear in this section.
Define the Plan:
- Name the adjustment voucher plan (e.g., Monthly Expense Distribution).
- Set the Standard Plan to 12 months for monthly expense allocation.
Select the Period and Due Date:
- Choose whether vouchers should be generated at the start or end of the period.
Save the Plan.

✅ FalconPro will now generate a structured expense allocation for every selected period.

6. Generating and Reviewing Adjustment Vouchers

Once the adjustment voucher setup is complete, users can generate vouchers for expense allocation.

Steps to Generate an Adjustment Voucher:

Go to Accounts → Adjustment Vouchers.
Select the Period (e.g., January, February, etc.).
Review the Pre-Generated Expense Distribution.
Ensure That Expenses Are Distributed as Expected:
- Expense accounts should be credited.
- Cost center allocations should appear in the debit section.
Click Save to Finalize the Voucher.

✅ The voucher is now created, and expenses are officially recorded for the period.

7. Automating Future Expense Distributions

FalconPro allows businesses to automate expense allocation every 1 month, 3 months, 6 months, or yearly.

To Set Up Automated Expense Vouchers:

Go to Administration → Adjustment Voucher Setup.
Select the Adjustment Plan Created Earlier.
Choose the Automation Interval (e.g., Monthly, Quarterly).
Save the Setup.

✅ The system will now generate and queue adjustment vouchers based on the selected time interval.

8. Benefits of Automatic Expense Distribution in FalconPro

Automating expense distribution in FalconPro Real Estate Software ensures:
✅ Accurate financial tracking for expense allocations.
✅ Reduced manual effort in creating adjustment vouchers.
✅ Proper allocation across cost centers and departments.
✅ Seamless integration with financial reports.
✅ Fewer errors in expense distribution.

Conclusion

FalconPro Real Estate Software provides a structured way to automate expense distribution using the Accounts Report Generator and Adjustment Vouchers. By following these steps, businesses can ensure that expenses are allocated correctly, financial records remain accurate, and automation reduces manual workload.

FAQs

1. What is an Adjustment Voucher in FalconPro?

An adjustment voucher is an automated financial entry that distributes expenses periodically based on predefined rules.

2. How do I ensure the correct percentage distribution?

In the Accounts Report Generator, set up percentage allocations, ensuring the total equals 100%.

3. Can I adjust expense allocation later?

Yes, users can modify the expense report setup or create a new adjustment voucher plan if distribution needs change.

4. What happens if I don’t generate an adjustment voucher?

If vouchers are not generated, expenses will not be allocated automatically, and manual entries will be required.

5. Can FalconPro generate reports for all past and future expense distributions?

Yes, reports can be generated in the Accounts Report Print section to track expense allocations.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: Automating Expense Distribution in FalconPro Real Estate Accounting Software
Slug: expense-distribution-falconpro-real-estate-accounting-software
Meta Description: Learn how FalconPro Real Estate Accounting Software automates expense distribution with adjustment vouchers for accurate financial tracking.

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How to Create a Leasing Contract for Employees in FalconPro Real Estate Software

Introduction

In some real estate scenarios, companies rent flats for their employees without charging rent or with discounted rent. FalconPro Real Estate Software allows businesses to handle these employee leasing contracts in two ways:

Without affecting financial accounts (no revenue, no expenses).
With financial impact, where rent is recorded but adjusted as a company expense.

This guide explains how to manage employee leasing contracts using both methods.

1. Method 1: Creating an Employee Leasing Contract Without Financial Impact

In this scenario:
✅ The flat remains rented to the employee but does not generate revenue or expenses.
✅ The contract is recorded as an administration contract (or another custom type).
✅ No revenue vouchers or financial transactions are generated.

Steps to Create an Administration Contract for Employees:

Go to Leasing → New Contract.
Select the Flat to Be Rented.
Select the Employee as the Tenant.
- The employee should already be listed in the contacts database.
Choose the Contract Type as “Administration”
- If “Administration” is not available, a new contract type can be created.
Enter the Value of the Flat (for reference purposes).
Disable Installments
- Click Auto Installment and ensure no installments are generated.
Save the Contract.

✅ This contract will be recorded but will not generate vouchers, revenue, or expenses.
✅ The unit remains “occupied” but does not appear in financial transactions.

2. Creating a Custom Contract Type for Employee Leasing

If the “Administration” contract type does not exist, users can create a new contract type (e.g., “Employee”).

Steps to Add an Employee Contract Type:

Go to Administration → Master Files → Property Management.
Select “Contract Types”.
Click on “Add New Type”.
Enter the Type Name (e.g., Employee Contract).
Disable Installments and Revenue Generation.
Save Changes.

✅ Now, the “Employee Contract” type can be selected when creating leasing contracts.

3. Method 2: Creating an Employee Leasing Contract with Financial Impact

In this method, rent is recorded in revenue but later adjusted as an expense or salary deduction for the employee.

Steps to Create a Normal Leasing Contract with Adjustments:

Go to Leasing → New Contract.
Select the Flat and Employee as the Tenant.
Choose “Normal Leasing Contract” Instead of “Administration”.
Enter the Full Rent Amount
- Example: 24,000 AED per year.
Generate Installments as Usual.

4. Adjusting Rent as a Company Expense or Salary Deduction

If the company waives rent for the employee or provides a discount, the adjustment should be recorded as either:
✅ A Direct Expense (recorded as a company expense).
✅ A Salary Deduction (if the employee contributes part of the rent).

Steps to Adjust Rent via Discounts or Salary:

Go to Receipts and Select the Lease Contract.
Choose the Rent Installment for Adjustment.
Select an Adjustment Method:
- Salary Deduction: Link the discount to the employee’s salary.
- Company Expense: Link the discount to the company’s expense account.
Save the Adjustment.

✅ This ensures that revenue is recorded, but the company adjusts the cost as an expense.

5. Deciding Which Method to Use

Method 1 (No Financial Impact): Most companies prefer this as it simplifies accounting by keeping employee flats separate from revenue.
Method 2 (Financial Impact): Used when rent must appear in financial statements, but later adjusted via expenses or salary deductions.

💡 Your company auditor should decide which method to follow.

6. Summary of Key Differences

Feature	Method 1: No Financial Impact	Method 2: With Financial Impact
Revenue Generation	❌ No revenue recorded	✅ Revenue recorded
Expense Tracking	❌ No expenses recorded	✅ Recorded as an expense
Installments	❌ No installments created	✅ Installments created
Contract Type	Administration / Employee	Normal Lease Contract
Financial Reports	❌ No effect on reports	✅ Included in financial reports

Conclusion

FalconPro Real Estate Software provides flexibility in handling employee leasing contracts, allowing businesses to either exclude them from financial reports or record them with adjustments. By following the steps outlined, companies can ensure accurate lease tracking while maintaining clear financial records.

FAQs

1. Can I change an employee lease contract from administration to normal?

No, once saved, a contract cannot be changed from administration to normal. A new contract must be created.

2. What happens if I accidentally generate installments for an employee contract?

If no revenue should be recorded, cancel the contract and recreate it as an administration contract.

3. Can I track how many flats are occupied by employees?

Yes, use the Reports Section in FalconPro to filter contracts by Employee Leasing Type.

4. How do I ensure the rental value appears in financial reports?

Use Method 2, where rent is recorded, but later waived or adjusted as an expense.

5. Who decides whether to record employee rent as an expense?

Your company auditor or financial manager should determine whether rent should be recorded or excluded from financial reports.

Important Links

SEO Metadata

Focus Keyphrase: real estate management system
SEO Title: How to Create an Employee Leasing Contract in FalconPro Real Estate Management System
Slug: employee-leasing-contract-falconpro-real-estate-management
Meta Description: Learn how to create an employee leasing contract in FalconPro Real Estate Management System, with or without financial impact. Step-by-step guide for businesses.

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Managing Client Invoice Approvals, Serials, Special Text, and Logos in FalconPro Real Estate Software

Introduction

FalconPro Real Estate Software has introduced new enhancements for managing client invoices, including:
✅ Approvals for invoice creation, deletion, activation, and editing
✅ Custom serials for invoices based on ownership or management
✅ Automatic remarks for printed invoices
✅ Custom logos per building for printed invoices and receipts

This guide explains how to configure and use these features to improve invoice tracking, customization, and security.

1. Understanding Client Invoice Approvals in FalconPro

To enhance security, FalconPro Real Estate Software now requires user approval levels for managing invoices. Users must have specific permissions to:

Create a new invoice
Edit an existing invoice
Delete an invoice
Activate a canceled invoice

These restrictions prevent unauthorized modifications and ensure audit tracking.

2. Setting Up User Approvals for Client Invoices

Steps to Assign Invoice Approvals to a User:

Go to File → User Administrator.
Select the User Who Needs Invoice Permissions.
Go to the “Approvals” Section.
Search for “Invoice” to Find Approval Options:
✅ Create Client Invoice
✅ Edit Invoice
✅ Activate Canceled Invoice
✅ Delete Invoice
Enable the Required Permissions for the User.
Click Save to Apply the Changes.

✅ Now, only authorized users can create, edit, delete, or activate invoices.

3. Tracking Invoice Changes Using the Edit Log

Every action performed on an invoice is recorded in the Edit Log, allowing users to track modifications.

Steps to View the Invoice Edit Log:

Open the Invoice in FalconPro.
Click on the “Edit Log” Button.
Review All Modifications, Including:
- User who made the change
- Date and time of modification
- Description of changes

✅ This ensures full transparency and accountability in invoice management.

4. Configuring Custom Invoice Serials for Different Buildings

FalconPro Real Estate Software allows users to assign custom serial numbers for invoices based on:

Building-wise serials (each building has its own serial series).
Landlord-wise serials (each landlord has unique invoice numbers).
Ownership-wise serials (managed units and owned units have different serials).
Yearly serials (invoice numbering resets every year).

Steps to Configure Invoice Serials:

Go to File → Preferences → Others.
Find the “Client Invoice Serial Setup” Section.
Choose How to Generate Invoice Serials:
- By Building
- By Landlord
- By Ownership (Managed vs. Owned)
- By Year (Resets Each Year)
Save the Settings.

✅ Now, FalconPro will automatically assign serials based on the selected method.

5. Adding Special Text for Printed Invoices

Users can now automatically add remarks to printed invoices based on the property status.

Example Use Case:

If a building is managed, the invoice can include:
📌 “This invoice is issued on behalf of the property owner.”
If a unit is company-owned, the invoice will not include this remark.

Steps to Configure Remarks in Invoices:

Go to Property Setup.
Select the Building or Unit.
Add the Special Remark in the Invoice Settings.
Choose Whether to Apply It to All Units in the Building.
Click Save.

✅ Now, when printing invoices, the system will automatically add relevant remarks.

6. Assigning Custom Logos for Each Building

FalconPro Real Estate Software now allows different logos for different buildings when printing invoices, receipts, and payment vouchers.

Steps to Assign a Logo to a Building:

Go to Property Setup.
Select the Building.
Upload the Custom Logo for the Building.
Save the Changes.

Now, whenever a client invoice or receipt is printed for that building, it will display the custom logo instead of the default company logo.

✅ This feature is useful for property management companies handling multiple landlords.

7. Benefits of These Enhancements in FalconPro

✅ Improved Security – Only authorized users can create, edit, delete, or activate invoices.
✅ Better Invoice Organization – Custom serial numbers for each property owner or managed unit.
✅ Clearer Client Communication – Automatic remarks ensure transparency in property management.
✅ Professional Branding – Custom logos per building provide a personalized client experience.

Conclusion

The latest updates in FalconPro Real Estate Software provide better security, customization, and automation for client invoices. By configuring user approvals, custom serials, special invoice remarks, and building-specific logos, real estate businesses can enhance financial accuracy and streamline invoicing processes.

FAQs

1. Can I assign different invoice serials to different landlords?

Yes, FalconPro allows invoice serials to be generated based on landlord-wise settings.

2. What happens if a user tries to create an invoice without approval?

The system will display a permission error message, preventing unauthorized invoice creation.

3. Can I change the logo for a specific building’s invoices?

Yes, you can upload a different logo per building, which will appear on all related invoices and receipts.

4. How do I track who edited an invoice?

Use the Edit Log to view a detailed history of modifications made to an invoice.

5. Can I apply remarks to only some units within a building?

Yes, remarks can be applied at the unit level rather than for the entire building.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: Managing Client Invoice Approvals and Custom Serials in FalconPro Real Estate Accounting Software
Slug: client-invoice-approvals-serials-falconpro-real-estate-accounting
Meta Description: Learn how to set up client invoice approvals, custom serials, special text, and logos in FalconPro Real Estate Accounting Software. Step-by-step guide for businesses.

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How to Assign and Change Logos Building-Wise in FalconPro Real Estate Software

Introduction

Starting from FalconPro Real Estate Software version 21.09, businesses can now assign multiple logos within one company. This allows users to:
✅ Set different logos for each building, owner, or project.
✅ Automatically apply logos when printing receipts, vouchers, or invoices.
✅ Manually change the logo while printing a document.

This guide explains how to configure building-wise logos and manually select different logos while printing reports.

1. Configuring Multiple Logos in FalconPro Real Estate Software

Users can now store unlimited logos under the Administration → Master Files → General → Logos section.

Steps to Upload and Configure Logos:

Go to Administration → Master Files → General → Logos.
Click on “Add New Logo.”
Upload the Logo File.
Assign a Name to the Logo (e.g., “Company A Logo” or “Building 5 Logo”).
Choose Where the Logo Will Be Used:
✅ Receipts Only
✅ Payment Vouchers
✅ All Printed Documents
Click Save.

✅ Now, the logo is stored in the system and can be assigned to specific buildings or invoices.

2. Assigning a Logo to a Building

After adding multiple logos, FalconPro allows users to assign different logos to different buildings.

Steps to Assign a Logo to a Building:

Go to Property Setup.
Select the Building You Want to Configure.
Navigate to the Rent Section or Contract Section.
Select the Logo for the Building.
Click Apply to All Units in the Building (Optional).
Save the Changes.

✅ Now, all receipts, invoices, and vouchers for this building will automatically display the assigned logo.

3. Printing Reports, Receipts, and Invoices with Different Logos

Once logos are assigned, FalconPro automatically applies the correct logo based on the building or unit.

Example Use Case:

Tenant A rents a unit in Building 1 → Invoices will display Building 1’s Logo.
Tenant B rents a unit in Building 2 → Invoices will display Building 2’s Logo.
If a tenant has two units in different buildings → Each invoice will have a different logo based on the unit’s location.

Steps to Print a Document with the Correct Logo:

Open the Lease Contract or Receipt for a Tenant.
Click on Print.
The System Will Automatically Display the Assigned Logo.
If the Document Belongs to a Different Building, the Logo Will Change Accordingly.

✅ FalconPro ensures accurate logo assignment without manual intervention.

4. Manually Changing the Logo While Printing

Even if a logo is automatically assigned, users can change it at the time of printing.

Steps to Manually Select a Logo During Printing:

Open the Report, Invoice, or Receipt You Want to Print.
Click on the Logo in the Print Preview.
A List of Available Logos Will Appear.
Select a Different Logo (e.g., “Company B Logo” instead of “Company A Logo”).
Click Save and Proceed with Printing.

✅ This is useful when printing invoices for multiple owners or management companies.

5. Assigning Different Logos for Each Unit in a Building

FalconPro also allows users to assign separate logos for each unit within a building.

Steps to Set Different Logos for Individual Units:

Go to Property Setup.
Select the Unit You Want to Configure.
Click on the Logo Section.
Choose a Unique Logo for the Unit.
Save the Settings.

✅ This feature is helpful when different landlords own units within the same building.

6. Setting a Default Logo for All Reports

If no specific building or unit logo is assigned, FalconPro will use the default company logo.

Steps to Set a Default Logo for All Reports:

Go to Administration → General Settings.
Find the “Default Logo” Section.
Select a Logo to Use as the Default.
Save the Changes.

✅ Now, all documents without a specific logo will use the default company logo.

7. Benefits of FalconPro’s Multi-Logo System

✅ Customized branding – Assign specific logos to buildings, units, or owners.
✅ Professional invoices and receipts – Automatically display the correct logo for each transaction.
✅ Manual override – Change logos when printing if needed.
✅ Unlimited logo storage – Upload multiple logos for different business scenarios.

Conclusion

FalconPro Real Estate Software now provides full control over logo management, allowing businesses to assign, change, and customize logos for different buildings, owners, and reports. By following these steps, businesses can maintain brand consistency while ensuring accurate document branding.

FAQs

1. Can I assign different logos to different landlords?

Yes, you can set up logos per building, per unit, or per owner in FalconPro.

2. What happens if I do not assign a logo to a building?

If no logo is assigned, the default company logo will be used for invoices, receipts, and reports.

3. Can I change the logo manually while printing a document?

Yes, FalconPro allows users to select a different logo before printing any report or invoice.

4. Will tenants in the same building see different logos?

No, unless a specific unit logo is assigned, all tenants in the same building will see the same building logo.

5. Can I add multiple logos to a single invoice?

No, FalconPro only allows one logo per document, but you can change it manually before printing.

Important Links

SEO Metadata

Focus Keyphrase: real estate software uae
SEO Title: Assign and Change Building-Wise Logos in FalconPro Real Estate Software UAE
Slug: assign-building-logos-falconpro-real-estate-software-uae
Meta Description: Learn how FalconPro Real Estate Software UAE allows users to assign and change building-wise logos for invoices, receipts, and reports. Step-by-step guide.

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How to Close an Accounting Period and Edit or Delete Opening Balances in FalconPro Real Estate Software

Introduction

Closing an accounting period is an essential step for financial reporting. FalconPro Real Estate Software allows users to close an accounting period, generate closing vouchers, and transfer balances to the next year. Additionally, users can edit or delete opening balances if needed, depending on company policies.

This guide explains:
✅ How to close an accounting period in FalconPro
✅ How to create and manage closing vouchers
✅ How to reopen a closed period if adjustments are required
✅ How to edit or delete opening balances for a new financial year

1. Closing an Accounting Period in FalconPro

At the end of a financial year, companies must close the current accounting period and transfer balances to the next year.

Steps to Close an Accounting Period:

Navigate to General Ledger:
- Go to Accounting → General Ledger.
Select the Period to Close:
- Choose the year to be closed (e.g., 2022).
Decide Whether to Create a Closing Voucher:
- Option 1: Create Closing Voucher
  - Generates a profit and loss closing voucher, transferring net profit to the retained earnings account.
  - The system will display a preview of the voucher before saving.
- Option 2: Close the Period Directly
  - Transfers all balances to the next year without generating a closing voucher.
Confirm Closure:
- Click Save to finalize.

✅ Now, all balances from the closed period (e.g., 2022) are transferred as opening balances to the new period (e.g., 2023).

2. Checking Opening Balances in the New Period

After closing an accounting period, the balances from the previous year are automatically transferred.

Steps to Verify Opening Balances:

Go to Reports → Accounting → Trial Balance.
Retrieve the Report for the New Year (e.g., 2023).
Check That All Balances Are Correctly Transferred.

✅ The system automatically carries over closing balances as opening balances in the new period.

3. Reopening a Closed Accounting Period

If adjustments need to be made to a closed period, FalconPro allows users to reopen it with the necessary authority.

Steps to Reopen a Closed Period:

Go to General Ledger → Accounting.
Select the Closed Period (e.g., 2022).
Click on “Open Period” to Revert the Closure.
Confirm Authorization (Only Authorized Users Can Reopen a Period).

✅ Once reopened, users can make transactions in the old period again.

4. Editing or Deleting Opening Balances in FalconPro

Some companies may need to adjust opening balances in the new period before finalizing financial reports.

Steps to Edit or Delete Opening Balances:

Enable Editing of Opening Balances:
- Go to General Ledger → Accounting.
- Choose the current period (e.g., 2023).
- Click Enable Open Balance Editing.
Modify or Delete Balances:
- Edit a Specific Balance: Click on an account and change the amount.
- Delete All Opening Balances: Requires password authorization.
Save Changes to Finalize Adjustments.

✅ This is useful when a company wants to reset balances for a new financial year.

5. Creating Manual Opening Balances in FalconPro

If a company deletes opening balances, they can manually re-enter them using a journal voucher.

Steps to Create a Manual Opening Balance Voucher:

Go to Accounting → General Ledger → Create Journal Voucher.
Enter the Date as January 1 of the New Year (e.g., 01/01/2023).
Select Each Account and Enter the Opening Balance.
Assign the Correct Cost Centers.
Save the Journal Voucher.

✅ This method ensures that financial records start fresh while maintaining accuracy.

6. Best Practices for Managing Accounting Periods in FalconPro

✅ Always review financial reports before closing a period.
✅ Use closing vouchers to ensure net profit is transferred correctly.
✅ Reopen periods only when necessary and with proper authorization.
✅ Edit opening balances only when required to maintain financial accuracy.
✅ Use manual journal vouchers for controlled adjustments.

Conclusion

FalconPro Real Estate Software provides flexible and secure options for closing accounting periods, transferring balances, and modifying financial data when necessary. By following these steps, businesses can maintain accurate financial records while ensuring compliance with accounting best practices.

FAQs

1. What happens if I close an accounting period without creating a closing voucher?

If you close the period without a voucher, all balances will be transferred to the next year without an automatic profit and loss adjustment.

2. Can I reopen a closed period after making a mistake?

Yes, authorized users can reopen a closed period to make adjustments.

3. What is the purpose of enabling open balance editing?

It allows users to modify or delete opening balances before finalizing financial reports.

4. How do I completely reset opening balances for a new year?

Delete all opening balances using password authorization, then create a manual opening balance voucher.

5. Can FalconPro generate reports showing changes in opening balances?

Yes, FalconPro tracks all changes in the General Ledger Edit Log for audit purposes.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: Closing an Accounting Period in FalconPro Real Estate Accounting Software
Slug: closing-accounting-period-falconpro-real-estate-accounting
Meta Description: Learn how to close an accounting period, manage opening balances, and edit financial records in FalconPro Real Estate Accounting Software.

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How to Import Data into FalconPro Real Estate Software: A Step-by-Step Guide

Introduction

FalconPro Real Estate Software provides an efficient data import system that allows users to upload and organize essential business information through Excel sheets. The system follows a structured approach using:
✅ Blue Sheets: Contains the importable data (e.g., persons, buildings, units, contracts).
✅ Green Sheets: Acts as master data reference (cannot be modified during import).

This guide explains the rules and best practices for preparing and importing data into FalconPro Real Estate Software.

1. Understanding FalconPro Import Sheets

Blue Sheets: Importable Data Categories

These contain all the actual data to be imported, such as:

Persons: Owners, clients, suppliers, and companies.
Buildings: Names, types, and ownership details.
Units: Unit numbers, types, and associated landlords.
Contracts: Lease agreements, rent details, and installment plans.
Areas: Locations and assigned city names.

✅ Only data from the Blue Sheets will be imported.

Green Sheets: Master Data Reference

The Green Sheets contain predefined system values (e.g., unit types, area names).
Users cannot change or add new values to the Green Sheets.
Any required modifications must be requested from FalconPro support.

✅ Copying from Green Sheets to Blue Sheets ensures correct data formatting.

2. Preparing the Import Data in FalconPro

To ensure a successful import, users must follow specific guidelines when filling the Blue Sheets.

A. Filling the Persons Sheet (Owners, Clients, Companies, Suppliers)

Enter Full Name (English and Arabic) for each person.
Specify whether the person is:
- Owner (Landlord): Mark “1” under “Owner” and “0” in other categories.
- Client (Tenant): Mark “1” under “Client” and “0” in other categories.
- Company (Supplier): Mark “1” under “Company” and “0” in other categories.
Country Name: Copy from the Green Sheet (e.g., “United Arabia” instead of “United Arab Emirates”).
Contact Details: Mobile number, gender (Male/Female), and other optional fields.

✅ Do not rename or delete columns. Any missing required fields may cause import failure.

B. Filling the Buildings Sheet

Enter the Building Name (English & Arabic)
- If Arabic is not available, copy the English name into the Arabic column.
Enter the Landlord Name (Must match the name in Persons Sheet).
Specify the Use Type:
- Residential or Commercial (copy from Green Sheet).
Enter the City and Area:
- Example: If the area is in Sharjah, enter “Sharjah.”

✅ Building names and landlords must be consistent with other sheets.

C. Filling the Units Sheet

Enter the Building Name (Must match the Buildings Sheet).
Assign a Unit Number or Name (e.g., “101”, “Office 05”, “Shop A”).
Specify the Unit Type (Copy from Green Sheet):
- Flat, Villa, Showroom, Office, etc.
Define the Leasing Value (Optional).
Specify the Use Type:
- Residential or Commercial (copy from Green Sheet).
Enter Landlord Name (Must match the Persons Sheet).

✅ If the required Unit Type is missing, contact FalconPro support to add it.

D. Filling the Contracts Sheet

Enter the Building and Unit Names (Must match Buildings and Units Sheets).
Specify the First Party (Landlord Name from Persons Sheet).
Enter the Client Name (Tenant from Persons Sheet).
Provide Contract Details:
- Start Date (DD/MM/YY format).
- End Date (DD/MM/YY format).
- Rent Amount, Security Deposit, Parking Fees (if applicable).
Number of Installments (Mandatory Field).
- Example: If unknown, enter “4” or “6” (must not be blank).
Ensure Date Format is Correct:
- FalconPro only accepts DD/MM/YY format.
- Enable date filtering in Excel before importing.

✅ Do not delete or rename any columns. Incorrect formatting will cause import failure.

3. Important Data Formatting Rules

To ensure successful import, follow these formatting rules:

✅ Do NOT delete or rename columns in the Blue Sheets.
✅ Mandatory fields (blue columns) must be filled.
✅ Use copy-paste from Green Sheets for categories like city, unit type, and use type.
✅ Ensure all date fields follow the DD/MM/YY format.
✅ Remove any special formatting from numbers (avoid commas, symbols).

4. Importing the Data into FalconPro

Once the data sheets are properly formatted, they can be imported into FalconPro Real Estate Software.

Steps to Import the Data:

Go to Administration → Data Import.
Select the Import Type:
- Persons
- Buildings
- Units
- Contracts
- Areas
Upload the Excel File.
Click “Validate” to Check for Errors.
If No Errors Are Found, Click “Import”.

✅ If any errors occur, review the error message, correct the issue, and re-upload the file.

5. Best Practices for Data Import in FalconPro

✅ Always copy category values from Green Sheets to avoid mismatches.
✅ Keep a backup of the Excel file before importing.
✅ Use correct date formatting (DD/MM/YY).
✅ Ensure all building names, unit names, and landlords match across sheets.
✅ For multi-unit contracts, do not enter data in the contracts sheet. Instead, use FalconPro’s built-in multi-unit contract feature.

Conclusion

FalconPro Real Estate Software simplifies bulk data entry through its structured import system. By following these preparation and formatting rules, businesses can efficiently import data while ensuring accuracy.

FAQs

1. Can I change the names of columns in the import sheet?

No, renaming or deleting columns will cause import failure.

2. How do I ensure that landlords and clients are properly linked?

Make sure that Persons, Buildings, and Units Sheets contain matching names and details.

3. What happens if I enter the wrong date format?

Incorrect date formatting will cause the import process to fail. Use DD/MM/YY format only.

4. Can I import contracts with multiple units?

No, multi-unit contracts must be created directly in FalconPro, not in the import sheet.

5. Who should I contact if I need to add a missing category or unit type?

If a required category (e.g., unit type) is missing, contact FalconPro support for assistance.

Important Links

SEO Metadata

Focus Keyphrase: real estate management software
SEO Title: How to Import Data into FalconPro Real Estate Management Software
Slug: import-data-falconpro-real-estate-management-software
Meta Description: Learn how to import data into FalconPro Real Estate Management Software using structured Excel sheets. Step-by-step guide for accurate bulk data entry.

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How to Add a New Building in FalconPro Real Estate Software

Introduction

Managing real estate properties requires efficient setup and organization. FalconPro Real Estate Software enables users to add new buildings, assign owners, and generate multiple units with minimal effort. This guide explains the step-by-step process of adding a new building, setting up unit categories, and using the auto-generation feature for floors and units.

1. Navigating to Property Setup

To add a new building, follow these steps:

Go to Property Inventory → Property Setup.
Select the Country.
- FalconPro will display all active cities or emirates with units.
If an Area is Missing:
- Go to Administration → Countries.
- Double-click on the Country (e.g., UAE).
- Select the City (e.g., Sharjah).
- Search for the Area (e.g., Mamzar).
- If missing, click Add → Click Show → Save.
- Go back to Property Setup and retrieve the updated city list.

✅ Now, the area is available for new building setup.

2. Adding a New Building in FalconPro

Select the Area where the building will be added.
Click “New” → Choose “Building” or “Block”.
Enter the Building Name (e.g., “Mamzar Building”).
Choose the Owner:
- If the owner is not listed, click “Add New” and enter details.
Click Save.

✅ The new building is now registered and ready for unit setup.

3. Adding Units Under the Building

Once the building is added, units such as flats, villas, shops, or offices can be assigned.

Steps to Add Units:

Click on the Building Name.
Click “New” → Select Unit Type (Flat, Shop, Villa, etc.).
Enter Unit Number (e.g., 101, 102).
Select Unit Category (e.g., 1-Bedroom, 2-Bedroom, etc.).
Enter Additional Details (optional).
Click Save.

✅ The unit is now added under the building.

4. Generating Multiple Floors and Units Automatically

If a building has multiple floors with the same unit layout, FalconPro provides an Auto-Generate feature to create units quickly.

Steps to Auto-Generate Floors and Units:

Add a single unit manually (e.g., 101 for the first floor).
Click “Generate” to duplicate the unit for multiple floors.
Choose the Floor Range (e.g., Floor 2 to Floor 10).
Click Generate.

✅ The system will automatically create all units (201, 301, 401, etc.) for the selected floors.

5. Reviewing and Saving the Building Setup

Verify that all units are correctly generated.
Check unit numbers and categories (1BHK, 2BHK, etc.).
Click Save to finalize the setup.

✅ The new building with all units is now available for lease and management in FalconPro.

6. Best Practices for Building Setup in FalconPro

✅ Use auto-generation for buildings with similar floors to save time.
✅ Ensure owner details are correctly linked to each building.
✅ Verify the area and city setup before adding a new property.
✅ Save changes frequently to prevent data loss.
✅ Assign correct unit categories (Flats, Villas, Shops) to maintain consistency.

Conclusion

FalconPro Real Estate Software makes building setup quick and efficient. By following these steps, real estate businesses can register new buildings, assign owners, and auto-generate units with ease.

FAQs

1. How do I add an owner if they are not listed?

Go to Property Setup → Add New Owner and enter the details.

2. Can I change a building name after adding it?

Yes, you can edit the building details under Property Setup.

3. What happens if I enter an incorrect unit number?

You can delete and re-add the unit or manually correct it before saving.

4. Can I generate mixed unit types (flats and shops) in one go?

No, different unit types must be added separately under the same building.

5. Can I import building data instead of adding manually?

Yes, FalconPro allows bulk data import using Excel templates.

Important Links

SEO Metadata

Focus Keyphrase: real estate management system
SEO Title: How to Add a New Building in FalconPro Real Estate Management System
Slug: add-building-falconpro-real-estate-management
Meta Description: Learn how to add a new building, assign owners, and auto-generate units in FalconPro Real Estate Management System. Step-by-step guide for property managers.

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Managing Office Administration Files and Document Renewals in FalconPro Real Estate Software

Introduction

Efficient document management is crucial for real estate companies to track office administration files, trade licenses, rental contracts, and other corporate documents. FalconPro Real Estate Software provides an automated system to:
✅ Store and categorize office administration files
✅ Set renewal reminders for trade licenses, rental contracts, and other documents
✅ Attach supporting files for easy retrieval
✅ Export document records for reporting and compliance

This guide explains how to manage office administration files and document renewals in FalconPro Real Estate Software.

1. Adding Office Administration Files in FalconPro

To ensure all company-related documents are properly stored and managed, users can add office administration files under the Human Resources → Office Admin Files section.

Steps to Add a New Office Administration File:

Go to Human Resources → Office Admin Files.
Click on “New” to add a new document.
Choose the Document Category:
- Company Documents
- Management Documents
- Car Licenses
Select the Subcategory Based on Document Type:
- Example: If the document is a Trade License, select:
  - Category: Company
  - Subcategory: Trade License
Enter the Document Details:
- File Name: Example: “Be Falcon Solutions Trade License 2024”
- Issue Date: Example: 01/01/2022
- Expiry Date: Example: 31/12/2022
- Storage Location: Specify where the physical document is stored.
- Description: Add renewal requirements (e.g., “First passport copy, Second Emirates ID, Tenancy contract”).
Click “Save” to Store the Document.

✅ The document is now stored in FalconPro and can be accessed anytime.

2. Setting Renewal Reminders for Office Documents

FalconPro ensures timely document renewal by allowing users to set automated reminders for expiring documents.

Steps to Add a Renewal Reminder:

Open the Stored Document from the Office Admin Files.
Click on “Add Reminder”.
Choose the Reminder Date (e.g., 1st September 2024 for a license expiring on 31st December 2024).
Save the Reminder.

✅ When the selected date arrives, FalconPro will generate an alert notifying users about the renewal deadline.

3. Viewing and Managing Document Renewal Alerts

FalconPro provides a centralized notification system to ensure that no office administration files expire unnoticed.

How to Access Renewal Alerts:

Go to the “Alerts” Section.
Look for Notifications Related to Document Renewals.
- Example: “License Renewal Due Soon”.
Double-click on the Notification to Open the Document.
Review Attached Documents and Take Action.

✅ Users can update, renew, or delete expired documents directly from the alerts section.

4. Categorizing Office Administration Files for Easy Management

To maintain organized records, FalconPro allows users to create custom categories and subcategories for office documents.

Steps to Add Custom Categories:

Go to Administration → Master Files → Office Administration.
Select “Office Admin Types”.
Click “Add New Category”.
- Example: Companies, Management, Cars, Employee Records
Add Subcategories Under Each Category:
- Example: Under Companies, create subcategories like:
  - Trade License
  - VAT Certificate
  - Company Rental Contracts
Click Save.

✅ Now, when adding new documents, users can select the appropriate category for better organization.

5. Deleting or Updating an Office Administration File

If a document is no longer needed, FalconPro allows users to delete or update it while maintaining historical records.

Steps to Delete an Office Document:

Open the Office Admin Files Section.
Select the File to Delete.
Click on “Delete”.
Confirm Deletion and Click “Save” to Finalize.

✅ Deleted files will no longer appear in the system.

Steps to Update an Office Document:

Open the File and Edit the Details.
Update Expiry Dates or Descriptions as Needed.
Attach New Supporting Documents.
Click Save to Apply Changes.

✅ Updated files ensure the system always contains the latest information.

6. Exporting Office Administration Files for Compliance

Users can export office documents to Excel for reporting and compliance audits.

Steps to Export Office Administration Files:

Go to Human Resources → Office Admin Files.
Click on “Export to Excel”.
Save the File for Reporting or Auditing Purposes.

✅ This feature is useful for internal reviews, government audits, and compliance tracking.

7. Benefits of Office Document Management in FalconPro

✅ Prevents missed renewal deadlines with automated reminders.
✅ Centralized storage of company files, trade licenses, and office contracts.
✅ Easily retrieve documents by category, subcategory, or keyword search.
✅ Attach supporting files for easy document access.
✅ Export reports for financial, legal, and compliance tracking.

Conclusion

FalconPro Real Estate Software provides a comprehensive system to manage, track, and renew office administration files efficiently. By following these steps, businesses can ensure compliance with legal requirements, avoid penalties, and keep all office documents organized.

FAQs

1. What happens if a document expires before renewal?

The system will continue to show an overdue alert until the document is updated or renewed.

2. Can I set multiple reminders for the same document?

Yes, users can add multiple renewal reminders at different dates.

3. What types of office documents can I store in FalconPro?

You can store trade licenses, company rental contracts, VAT certificates, car licenses, and any other company-related documents.

4. Can I add attachments to office administration files?

Yes, FalconPro allows users to attach multiple files related to each document for easy retrieval.

5. Can I generate a report of all upcoming document renewals?

Yes, the Export to Excel feature provides a full list of documents, including expiry dates.

Important Links

SEO Metadata

Focus Keyphrase: real estate management solutions
SEO Title: Managing Office Administration Files in FalconPro Real Estate Management Solutions
Slug: managing-office-administration-files-falconpro-real-estate
Meta Description: Learn how FalconPro Real Estate Management Solutions helps track and renew office administration files, trade licenses, and contracts. Step-by-step guide.

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How to Set Up and Manage Legal Case Fees in FalconPro Real Estate Software

Introduction

Legal cases often require real estate businesses to make advance legal payments on behalf of clients. FalconPro Real Estate Software provides a structured method to:
✅ Set up legal case fees in the system
✅ Add legal fees to lease contracts
✅ Process receipts when tenants repay legal expenses
✅ Ensure proper accounting for legal transactions

This guide walks through the step-by-step process of configuring legal fees, adding them to contracts, and handling payments.

1. Setting Up Legal Case Fees in FalconPro

Before collecting legal case fees from clients, the fee item must be configured in the system.

Steps to Create a Legal Fees Item:

Go to Administration → Master Files.
Click on “Accounting” → Select “Fee Items”.
Click “Add New” to Create a New Fee Item.
Enter the Fee Name:
- Example: “Legal Fees” or “Legal Case Fees”
Choose the Fee Category:
- Select “Others” as the category.
Assign Accounting Rules:
- Option 1: Create a due voucher (debits the client and credits the legal fees account).
- Option 2: Directly credit the legal fees account when receiving payment.

✅ Now, legal fees can be added to contracts and processed in receipts.

2. Adding Legal Case Fees to a Lease Contract

Once legal fees are set up, they need to be linked to the client’s contract before payment collection.

Steps to Add Legal Fees to a Contract:

Open the Tenant’s Lease Contract.
Go to the “Fees” Section.
Click “Add New Fee”.
Select “Legal Fees” from the List.
Enter the Fee Amount (e.g., 1,500 AED).
Click Save.

✅ The legal fees are now added to the contract and appear in the client’s balance.

3. Processing a Receipt for Legal Fees

Once the tenant pays back the legal fees, FalconPro allows users to record the payment in cash, bank, or other methods.

Steps to Receive Payment for Legal Fees:

Open the Lease Contract.
Click on the “Receive Payment” Button.
Enter the Payment Method:
- Cash (if paying in cash).
- Cheque (if paying via cheque).
- Bank Transfer (for direct deposit payments).
Select “Legal Fees” in the Payment Details.
Enter the Amount Paid by the Tenant.
Click “Save” to Record the Receipt.

✅ Now, the payment is reflected in the client’s account, and the legal fees are settled.

4. Verifying the Legal Fees Transaction in Accounting

To ensure the legal case fees are properly recorded, users should check the accounting transactions in FalconPro.

Steps to Verify Legal Fees Transactions:

Go to Accounting → General Ledger.
Retrieve Transactions for “Legal Fees”.
Check the Debit and Credit Entries:
- When a legal fee is added to a contract:
  - Debit: Customer Account
  - Credit: Legal Fees Account
- When the tenant makes a payment:
  - Debit: Legal Fees Account
  - Credit: Cash/Bank Account

✅ The legal fees should now be balanced in the accounts.

5. Handling Different Accounting Methods for Legal Fees

Companies can choose different accounting methods based on their financial structure:

✅ Standard Method (Recommended):

Legal fees are first debited to the client’s account.
When payment is received, it is credited back, ensuring accurate tracking.

✅ Alternative Method (Direct Credit at Receipt):

No prior debit is recorded.
The legal fee is credited immediately upon payment.

💡 The best method depends on the company’s financial policies.

6. Posting Legal Fees Vouchers in FalconPro

Once a legal fee receipt is generated, users must post the transaction to finalize it.

Steps to Post the Legal Fees Voucher:

Go to General Vouchers (GV) Posting Section.
Find the Legal Fees Voucher.
Review the Debit and Credit Entries.
Click “Post Transaction” to Finalize.

✅ Once posted, the transaction appears in the company’s financial reports.

7. Benefits of Managing Legal Fees in FalconPro

✅ Accurate tracking of legal case payments and reimbursements.
✅ Automated accounting for legal fees, reducing manual errors.
✅ Flexible payment options (cash, cheque, bank transfer).
✅ Seamless integration with lease contracts for better financial control.

Conclusion

FalconPro Real Estate Software simplifies the management of legal case fees, ensuring accurate financial tracking and smooth payment processing. By following these steps, businesses can effectively set up, collect, and account for legal expenses while maintaining proper client records.

FAQs

1. Can I track multiple legal fees for the same contract?

Yes, FalconPro allows users to add multiple legal fee entries per contract.

2. What happens if a client partially pays their legal fees?

The system records the partial payment and keeps the remaining balance due.

3. Can I refund legal fees if a client wins their case?

Yes, FalconPro allows users to issue refunds via credit notes or direct bank transfers.

4. How can I generate a report of all legal fee transactions?

Go to Accounting → Reports → Legal Fees Summary to retrieve a full report.

5. Can I assign different legal fees for different contracts?

Yes, FalconPro allows custom legal fees based on case type and client contract.

Important Links

SEO Metadata

Focus Keyphrase: real estate management software
SEO Title: Managing Legal Case Fees in FalconPro Real Estate Management Software
Slug: legal-case-fees-falconpro-real-estate-management
Meta Description: Learn how to set up, track, and receive legal case fees in FalconPro Real Estate Management Software. Step-by-step guide for property managers.

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How to Link, Unlink, and Manage Service Contract Invoices in FalconPro Real Estate Software

Introduction

FalconPro Real Estate Software introduces enhanced service contract management features to help users link supplier invoices efficiently. These updates allow businesses to:
✅ Link supplier invoices to service contracts.
✅ Unlink invoices if linked by mistake.
✅ Track invoiced, uninvoiced, paid, and unpaid amounts.
✅ Access linked payment vouchers directly from service contracts.

This guide explains the step-by-step process of linking, unlinking, and managing supplier invoices with service contracts in FalconPro Real Estate Software.

1. Understanding Service Contract and Supplier Invoice Linking

A service contract represents an agreement with a supplier for maintenance, repairs, or other services. The associated supplier invoice records the payable amount.

In FalconPro, users can:
✅ Link a supplier invoice to an existing service contract.
✅ Unlink an invoice from a service contract if necessary.
✅ Monitor the payment status of linked invoices directly within the service contract module.

2. Linking a Supplier Invoice to a Service Contract

If a supplier invoice is created before the service contract, it must be linked manually.

Steps to Link a Supplier Invoice to a Service Contract:

Go to Accounting → Payable Invoices.
Open the Invoice That Needs to Be Linked.
Click “Edit” → Select “Link with Service Contract.”
Find the Service Contract from the List and Double-Click It.
Review the Installment Details:
- Check the installment amount and date.
- Verify that the invoice amount matches the service contract installment.
Click “Save” to Finalize the Link.

✅ Now, the service contract will reflect the linked supplier invoice amount as “Invoiced.”

3. Verifying Linked Invoices in Service Contracts

Once a supplier invoice is linked, FalconPro updates the service contract summary to reflect:
✅ Invoiced Amount → The total linked supplier invoice amount.
✅ Paid Amount → The total amount paid to the supplier.
✅ Uninvoiced Amount → Remaining balance that has not been linked to an invoice.
✅ Unpaid Amount → Outstanding amount pending payment.

Steps to Verify the Linked Invoice in the Service Contract:

Go to Service Contracts.
Select the Service Contract That Was Linked.
Check the Invoice Summary:
- Invoiced Amount should now reflect the linked invoice.
- Paid Amount should match if the invoice was already paid.
Click on the Invoice to View Details.

✅ This allows real estate managers to track service payments directly from the service contract module.

4. Unlinking a Supplier Invoice from a Service Contract

If an invoice was linked to the wrong service contract, it can be unlinked.

Steps to Unlink a Supplier Invoice:

Go to Accounting → Payable Invoices.
Open the Linked Invoice.
Click “Edit” → Select “Unlink from Service Contract.”
Confirm the Unlinking Process.
Go Back to the Service Contract and Refresh the Page.

✅ The Invoiced Amount Will Now Be Zero, and No Invoice Details Will Be Displayed.

5. Tracking Payment Vouchers for Linked Invoices

FalconPro allows users to track payment vouchers for invoices directly from the service contract module.

Steps to View Payment Vouchers Linked to Service Contracts:

Go to Service Contracts.
Click on the “Invoices” Tab.
Select the Invoice to View Its Payment Voucher.
Click on the Payment Voucher to Open It.

✅ Users can now track payments directly from the service contract interface.

6. Preventing Deletion of Service Contracts Linked to Invoices

Once a service contract is linked to a supplier invoice, FalconPro prevents its deletion.

Error Message When Trying to Delete a Linked Contract:

If a user attempts to delete a service contract that has a linked invoice, FalconPro displays:
🚫 “Cannot process. Some invoices are linked with this contract.”

✅ To delete the contract, users must first unlink all invoices.

7. Benefits of Service Contract and Invoice Linking in FalconPro

✅ Improved Financial Accuracy → Ensures service contract expenses are properly recorded.
✅ Better Payment Tracking → Easily monitor paid and unpaid amounts.
✅ Simplified Invoice Management → Prevents duplicate payments and misallocations.
✅ Quick Access to Payment Vouchers → Users can view invoice payment details with one click.
✅ Error Prevention → Prevents accidental deletion of service contracts linked to invoices.

Conclusion

FalconPro Real Estate Software provides a streamlined method for linking, unlinking, and managing supplier invoices within service contracts. By following these steps, businesses can ensure financial accuracy, prevent errors, and track service-related payments efficiently.

FAQs

1. Can I link multiple invoices to the same service contract?

Yes, FalconPro allows linking multiple invoices to a single service contract as long as the amounts match the contract installments.

2. What happens if I unlink an invoice by mistake?

You can relink the invoice using the same steps in the “Linking a Supplier Invoice” section.

3. How do I know if an invoice is linked to a service contract?

Go to Service Contracts → Invoices Tab, where all linked invoices are displayed.

4. Can I delete a service contract if it has linked invoices?

No, FalconPro prevents deletion of service contracts with linked invoices. You must unlink the invoices first.

5. How can I check the total amount paid for a service contract?

The Invoices Tab in the service contract shows:
✅ Invoiced Amount → Total supplier invoices linked.
✅ Paid Amount → Payments made against the invoices.
✅ Unpaid Amount → Remaining balance due.

Important Links

SEO Metadata

Focus Keyphrase: real estate management software
SEO Title: Managing Service Contract Invoices in FalconPro Real Estate Management Software
Slug: service-contract-invoices-falconpro-real-estate-management
Meta Description: Learn how to link, unlink, and manage supplier invoices in FalconPro Real Estate Management Software for accurate service contract tracking.

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How to Manage Old Rent Collections in FalconPro Real Estate Software

Introduction

When transitioning to FalconPro Real Estate Software, some businesses may have outstanding rent payments from tenants before system implementation. Since these payments are related to contracts not recorded in FalconPro, a special accounting method is required to ensure proper tracking.

This guide explains how to:
✅ Create a separate account for old rent collections.
✅ Configure fee items for old rent.
✅ Process rent receipts for contracts not in the system.
✅ Track payments accurately without linked lease contracts.

1. Understanding Old Rent Collections in FalconPro

If a tenant pays rent for a past period (e.g., 2020 or 2021) but the lease contract is not available in FalconPro, users must:

Create a separate account for old rent collections in the general ledger.
Configure a fee item to categorize these payments correctly.
Process receipts manually without linking them to a contract.

💡 Example Scenario:
Your company started using FalconPro in January 2022, but a tenant is now paying rent for 2020 or 2021. Since the contract does not exist in FalconPro, this payment must be processed as Old Rent Collections in accounting.

2. Creating an Account for Old Rent Collections

To manage old rent payments correctly, users must first create a separate ledger account.

Steps to Add an Old Rent Collection Account:

Go to Administration → Master Files → Accounting.
Select “Chart of Accounts”.
Click “New” to Create a New Account.
Enter Account Name:
- Example: “Old Rent Collections”
Choose the Account Type Based on Company Policy:
- ✅ Under Revenue (if considered income).
- ✅ Under Equity (if considered adjustments).
Click Save.

✅ This account will store old rent payments not linked to active contracts.

3. Creating a Fee Item for Old Rent Collections

Next, users must create a fee item that will be used when collecting old rent payments.

Steps to Set Up Old Rent Collection as a Fee Item:

Go to Administration → Master Files → Accounting.
Click “Fees Item”.
Click “New” to Add a Fee Item.
Enter Fee Item Name:
- Example: “Old Rent Collections”
Select Fee Type:
- Choose “Others” (since this is not linked to lease contracts).
Assign the Old Rent Collection Account for Debit and Credit:
- Debit: Old Rent Collections
- Credit: Cash or Bank (depending on payment type)
Click Save.

✅ Now, FalconPro can categorize old rent payments separately.

4. Processing a Receipt for Old Rent Payments

Once the account and fee item are created, users can start collecting old rent payments using FalconPro’s receipt module.

Steps to Process a Tenant’s Old Rent Payment:

Go to Accounting → Receipts.
Click “New” to Create a Receipt.
Select the Receipt Type:
- Choose “Old Rent Collections” as the fee type.
Select the Property and Unit (Optional).
- If known, select the unit number associated with the payment.
- If not available, leave this blank.
Enter the Payment Details:
- Amount Paid: (e.g., 5,000 AED)
- Due Date: Choose today’s date or a past date for reference.
- Payment Method:
  - ✅ Cash
  - ✅ Cheque
  - ✅ Bank Transfer
Enter the Tenant’s Name.
Add a Description:
- Example: “Old rent collection for Flat 102 covering the period from Jan 2020 – Dec 2020.”
Click Save.

✅ The system now records the tenant’s old rent payment separately from new lease contracts.

5. Verifying the Accounting Entries for Old Rent

To ensure the old rent payment is properly recorded, users can check the general ledger transactions.

Steps to Verify the Old Rent Collection Entry:

Go to Accounting → General Ledger.
Search for “Old Rent Collections”.
Check the Debit and Credit Entries:
- When rent is received:
  - Debit: Cash/Bank Account
  - Credit: Old Rent Collections Account

✅ This ensures the financial records reflect the old rent collection without affecting active lease contracts.

6. Best Practices for Managing Old Rent in FalconPro

✅ Discuss with your auditor whether to record old rent under revenue or equity.
✅ Always use a separate account for old rent payments to avoid confusion with new leases.
✅ Include clear descriptions in receipts for easy tracking.
✅ Ensure payment receipts are categorized correctly for accurate financial reporting.

Conclusion

FalconPro Real Estate Software provides a structured process for handling old rent collections from periods before system implementation. By creating a separate account, configuring fee items, and processing receipts manually, businesses can ensure accurate tracking of outstanding tenant payments.

FAQs

1. What happens if I link old rent to an active contract?

This may cause financial inconsistencies since the contract does not exist in FalconPro. Always use the Old Rent Collections method instead.

2. Can I process partial payments for old rent?

Yes, FalconPro allows partial payments under the same Old Rent Collections account.

3. What should I do if a tenant pays old rent in installments?

Each payment should be recorded separately as a new receipt under the Old Rent Collections category.

4. Can I generate reports for old rent collections?

Yes, use Accounting → Reports → Fee Collections to track all old rent payments separately.

5. Can I add VAT to old rent payments?

Consult your auditor or tax advisor on whether VAT applies to old rent collections.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: Managing Old Rent Collections in FalconPro Real Estate Accounting Software
Slug: old-rent-collections-falconpro-real-estate-accounting
Meta Description: Learn how to manage old rent collections in FalconPro Real Estate Accounting Software for contracts not in the system. Step-by-step guide for property managers.

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How to Update Contract Owner, Client, and Property Details in FalconPro Real Estate Software

Introduction

In FalconPro Real Estate Software, leasing contracts store details such as:
✅ Owner (First Party) Name
✅ Tenant (Second Party) Name
✅ Building and Unit Name

However, changing these details in the contact or property setup does not automatically update existing contracts. This guide explains:
✅ How to refresh contracts to reflect updated details
✅ How to update all contracts in bulk using the new administration utility
✅ When updates are restricted due to existing accounting transactions

1. Understanding How Contract Information is Stored

When a leasing contract is created, it captures details like:

First Party Name (Owner/Landlord)
Second Party Name (Tenant/Client)
Property Details (Building, Unit, Tower Name)

If these details are later modified in Contacts or Property Setup, they will only apply to newly created contracts. Existing contracts remain unchanged unless manually refreshed.

2. Refreshing a Contract to Apply Updated Details

To manually update a contract with the latest owner, tenant, or property details:

Steps to Refresh an Individual Contract:

Open the Contract.
Click on the “Refresh” Button.
Review the Updated Details.
Click Save.

✅ Now, the contract reflects the new owner, tenant, or property details.

3. When Contract Updates Are Restricted

If a contract has already generated accounting vouchers, FalconPro does not allow refreshing the contract details.

🚫 Error Message: “Refresh blocked – contract has accounting vouchers.”

💡 Solution: Use the new Administration Utility to update contract details in bulk.

4. Using the Administration Utility to Update All Contracts in Bulk

FalconPro now includes a powerful administration utility that allows users to update contract details in bulk without opening each contract individually.

📌 There are three update options available:

Update Contract Owner Details → Updates the First Party (Owner/Landlord) for all contracts.
Update Contract Client Details → Updates the Second Party (Tenant/Client) for all contracts.
Update Contract Property Details → Updates building and unit names in all contracts.

5. How to Update Owner, Client, or Property Details for All Contracts

Steps to Access the Administration Utility:

Go to Administration → Utilities.
Select the Update Option:
- “Update Contract Owner Details” (for First Party Name changes)
- “Update Contract Client Details” (for Tenant Name changes)
- “Update Contract Property Details” (for changes in Building or Unit Names)
Enter the System Password to Proceed.
Click “Update” to Apply Changes.

✅ Now, all contracts reflect the latest owner, tenant, or property details.

6. What to Do If You Don’t Have the Utility Password

FalconPro requires a security password to perform bulk contract updates.

How to Request the Utility Password:

Click on the “Send Code” Option in FalconPro.
Copy the Code and Send It to FalconPro Support via the Support Group.
FalconPro Support Will Provide the Password.
Enter the Password to Proceed with Updates.

✅ This security measure ensures only authorized users can modify contract details.

7. Best Practices for Updating Contract Details in FalconPro

✅ Always refresh contract details manually if no accounting vouchers exist.
✅ Use the administration utility for bulk updates instead of editing contracts one by one.
✅ Ensure correct owner, client, and property details are stored in Contacts and Property Setup before running updates.
✅ Request the password from FalconPro Support only if necessary.

Conclusion

FalconPro Real Estate Software provides flexible options for updating contract details. Users can either:
1️⃣ Refresh individual contracts (if no accounting vouchers exist).
2️⃣ Use the Administration Utility to update all contracts in bulk.

By following these steps, real estate businesses can ensure accuracy and consistency across all contracts.

FAQs

1. Why don’t contract details update when I change owner or tenant names?

FalconPro does not automatically update existing contracts when names are changed in Contacts. You must refresh the contract manually or use the Administration Utility.

2. Can I refresh a contract if it has accounting vouchers?

No, if a contract has accounting vouchers, the refresh option is disabled. Use the Administration Utility instead.

3. How can I update all contracts at once?

Go to Administration → Utilities and use the “Update Contract Owner Details”, “Update Contract Client Details”, or “Update Contract Property Details” options.

4. What if I don’t have the utility password?

Send the generated security code to FalconPro Support to receive the password.

5. Can I undo an update if I make a mistake?

No, once contracts are updated, changes cannot be undone. Always double-check owner, client, and property details before running updates.

Important Links

SEO Metadata

Focus Keyphrase: real estate management software
SEO Title: Updating Contract Owner, Client, and Property Details in FalconPro Real Estate Management Software
Slug: update-contract-details-falconpro-real-estate-management
Meta Description: Learn how to update contract owner, client, and property details in FalconPro Real Estate Management Software using manual refresh or bulk administration utilities.

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How to Set Default Templates for Receipts, Client Invoices, and Payment Vouchers in FalconPro Real Estate Software

Introduction

In FalconPro Real Estate Software, users can configure and set default templates for:
✅ Receipts
✅ Client Invoices
✅ Payment Vouchers

These templates allow businesses to customize financial documents by:

Showing or hiding logos, QR codes, VAT numbers, contract details, and signatures.
Setting custom notes and headers for different templates.
Standardizing templates to avoid manual selection every time.

This guide explains how to set default templates for financial documents in FalconPro.

1. Navigating to Template Setup in FalconPro

To configure default templates for receipts, invoices, and payment vouchers:

Steps to Access Template Setup:

Go to Administration → Master Files.
Click on “Accounts”.
Search for the Document Type (Receipt, Invoice, or Payment Voucher).
Click on the “Print Setup” Option for the Selected Document.

✅ Now, you can see all available templates and customize them.

2. Configuring Default Templates for Receipts

Receipts in FalconPro can be customized with:
✅ Logos, QR codes, VAT numbers, contract details
✅ Signatures, stamps, custom notes, and multilingual options

Steps to Set Up a Default Receipt Template:

Go to Master Files → Accounts → Receipt Print Setup.
View the List of Available Templates.
Deactivate Templates You Don’t Want to Appear.
- If a template is not required, uncheck the “Active” box.
Select the Default Template.
- ✅ Choose only one as the default template.
Customize Printing Options:
- Show or Hide:
  - Logo
  - Header (e.g., “Tax Receipt” or “Receipt Voucher”)
  - QR Code
  - VAT Details
  - Contract Details (Unit & Contract Number)
- Set Notes and Footer Text.
- Select Signature Preferences (Arabic, English, or Both).
Click Save to Apply Changes.

✅ Now, this template will be automatically applied whenever a receipt is printed.

3. Configuring Default Templates for Client Invoices

Client invoices can be customized similarly to receipts.

Steps to Set Up a Default Client Invoice Template:

Go to Master Files → Accounts → Client Invoice Print Setup.
View the List of Available Invoice Templates.
Deactivate Unwanted Templates.
Choose One Default Template.
Customize Invoice Options:
- ✅ Show or Hide:
  - Header (Tax Invoice, Service Invoice, etc.)
  - Logo, QR Code, VAT Number
  - Contract and Unit Details
  - Custom Notes and Additional Text
Click Save to Apply the Default Template.

✅ This ensures all client invoices follow the selected template format.

4. Configuring Default Templates for Payment Vouchers

Payment vouchers allow users to customize:
✅ Text, signatures, and footer notes
✅ Display settings for QR codes, VAT numbers, and company stamps

Steps to Set Up a Default Payment Voucher Template:

Go to Master Files → Accounts → Payment Voucher Print Setup.
Select the Default Payment Voucher Template.
Customize the Template by Selecting:
- Header Name (e.g., “Payment Voucher” or “Supplier Payment”)
- Show or Hide:
  - Logo
  - VAT Details
  - Payment Notes
  - Signature & Stamp Section
Save the Changes.

✅ Now, all payment vouchers will use the default template unless changed manually.

5. Best Practices for Managing Default Templates in FalconPro

✅ Deactivate unnecessary templates to simplify selection.
✅ Use consistent branding by enabling logos and VAT numbers on financial documents.
✅ Enable QR codes for receipts and invoices for easier verification.
✅ Customize notes and signatures based on company requirements.
✅ Ensure only one template is set as the default to prevent conflicts.

Conclusion

FalconPro Real Estate Software provides flexible customization options for receipts, invoices, and payment vouchers. By setting default templates, businesses can:
✅ Save time by avoiding manual selection.
✅ Ensure consistent branding and compliance.
✅ Control document appearance based on business needs.

By following these steps, users can easily configure and manage financial document templates in FalconPro.

FAQs

1. What happens if I don’t set a default template?

Users will have to manually select a template each time they print a receipt, invoice, or payment voucher.

2. Can I change the default template later?

Yes, go to Master Files → Accounts, select the document type, and change the default template.

3. How do I remove unwanted templates?

Uncheck the “Active” box next to the template to hide it from the selection list.

4. Can I have different templates for different clients?

Yes, but only one default template can be set. Other templates remain available for manual selection.

5. How do I add my company’s signature to receipts and invoices?

Under Master Files → Signature Settings, add the required text in English, Arabic, or both.

Important Links

SEO Metadata

Focus Keyphrase: real estate management system
SEO Title: Setting Default Templates for Receipts, Invoices, and Vouchers in FalconPro Real Estate Management System
Slug: default-templates-falconpro-real-estate-management
Meta Description: Learn how to set default templates for receipts, invoices, and payment vouchers in FalconPro Real Estate Management System. Step-by-step customization guide.

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How to Replace and Cancel a Cheque in FalconPro Real Estate Software

Introduction

FalconPro Real Estate Software provides a structured way to manage cheque replacements when tenants pay in partial installments. This feature ensures that:
✅ Old cheques remain recorded while the tenant makes payments in parts.
✅ Receipts are generated for partial payments.
✅ The original bounced cheque can be canceled after full payment is received.

This guide explains how to:

Replace a cheque and record partial payments.
Continue collecting amounts until the cheque is fully covered.
Cancel the bounced cheque once the full amount is paid.

1. Understanding Cheque Replacement in FalconPro

Cheque replacement is used when:

A bounced cheque needs to be replaced with multiple payments.
A tenant wants to pay partially instead of replacing the entire cheque at once.
The old cheque should remain in records until full payment is received.

💡 Example Scenario:
A tenant issued a 10,000 AED cheque that bounced. Instead of issuing a new cheque, the tenant wants to pay:
✅ 3,000 AED in cash
✅ 5,000 AED via bank transfer
✅ 2,000 AED with a new cheque

The old bounced cheque remains recorded until the full 10,000 AED is collected.

2. Replacing a Cheque and Recording Partial Payments

Steps to Replace a Cheque in FalconPro:

Go to Accounting → Receipt Vouchers.
Click “New” to Create a Receipt.
Select “Replace Cheque” (without selecting any other option).
Search for the Cheque to Replace:
- Search by Cheque Number.
- Search by Receipt Number.
- Search by Contract Details (Property, Landlord, or Contract Number).
Select the Bounced Cheque from the List.
Check the Remaining Balance:
- Example: Cheque Amount = 10,000 AED
- Replaced Amount = 0
- Balance = 10,000 AED

Recording the First Partial Payment:

Enter the Amount the Tenant is Paying Now:
- Example: 3,000 AED (Paid in Cash).
Select Payment Method:
- ✅ Cash
- ✅ Bank Transfer
- ✅ New Cheque
Save the Receipt.

✅ The first receipt is now recorded, reducing the balance to 7,000 AED.

3. Processing Additional Payments for the Same Cheque

If the tenant continues making payments, the cheque remains in records until the full amount is covered.

Steps for the Second Partial Payment:

Create a New Receipt.
Click on “Replace Cheque”.
Search for the Same Cheque Again.
Check the Remaining Balance (e.g., 7,000 AED).
Enter the Amount Paid Now (e.g., 5,000 AED via Bank Transfer).
Select the Bank Details for the Transfer.
Save the Receipt.

✅ The balance now reduces to 2,000 AED.

4. Finalizing the Cheque Replacement with a New Cheque

If the tenant wants to pay the remaining amount (2,000 AED) with a new cheque, follow these steps:

Steps to Replace the Final Cheque Payment:

Open a New Receipt.
Select “Replace Cheque” and Search for the Cheque.
Enter the Remaining Amount (2,000 AED).
Choose “Cheque” as the Payment Method.
Enter the New Cheque Details:
- ✅ New Cheque Number: (e.g., 12345)
- ✅ Client’s Bank Name: (e.g., Abu Dhabi Bank)
Save the Receipt.

✅ Now, the full 10,000 AED is paid using three receipts.

5. Cancelling the Original Bounced Cheque in FalconPro

Once the total amount (10,000 AED) is paid, the old bounced cheque must be canceled to avoid double payments in reports.

Steps to Cancel the Bounced Cheque:

Go to Accounting → Cheque Management.
Click on “Received Cheques”.
Search for the Original Bounced Cheque (Cheque Number: 5210).
Retrieve the Cheque Details and Verify the Status.
Click “Cancel Cheque”.
Enter the Reason for Cancellation:
- Example: “This cheque is replaced by three receipt vouchers.”
Confirm and Save.

✅ Now, the old cheque is removed from active records, and payments are correctly reflected.

6. Verifying Payment Records in Leasing Contracts

After cheque replacement and cancellation, FalconPro ensures that:
✅ The total paid amount matches the original cheque amount.
✅ The cancelled cheque no longer appears in active contract records.

Steps to Verify the Payment Status:

Go to Leasing → Contracts.
Search for the Contract Number Linked to the Cheque.
Click on the “Payments” Tab.
Check the Payment Breakdown:
- ✅ Cheque Amount: 10,000 AED
- ✅ Paid Amount (via Receipts): 10,000 AED
- ✅ Cancelled Cheque is No Longer Visible.

✅ Now, the payment records are accurate, and the issue is resolved.

7. Benefits of Cheque Replacement in FalconPro

✅ Allows Partial Payments – Tenants can pay in installments.
✅ Prevents Double Accounting – The old cheque remains until fully replaced.
✅ Reduces Payment Errors – Ensures correct balances are tracked.
✅ Provides Full Audit Trail – Shows receipts linked to cheque replacements.
✅ Ensures Compliance – Helps in accurate contract management and financial reporting.

Conclusion

FalconPro Real Estate Software simplifies cheque replacement and cancellation, ensuring smooth rent collection and accurate financial tracking. By following these steps, businesses can effectively manage bounced cheques, partial payments, and cheque replacements without accounting issues.

FAQs

1. What happens if the tenant does not complete all payments?

The original cheque remains active in the system until fully replaced.

2. Can I cancel a cheque without replacing it?

Yes, but it is recommended to track payments before cancellation to avoid incorrect balances.

3. How do I track all receipts linked to a cheque replacement?

Open the original cheque details, and FalconPro will show all linked receipts.

4. Can I issue a new cheque instead of partial payments?

Yes, the tenant can replace the bounced cheque with a new cheque instead of paying in installments.

5. How do I generate reports for cheque replacements?

Go to Reports → Cheque Management → Replacement Summary to view all cheque replacements and payments.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: How to Replace and Cancel a Cheque in FalconPro Real Estate Accounting Software
Slug: cheque-replacement-cancellation-falconpro-real-estate-accounting
Meta Description: Learn how to replace, track partial payments, and cancel bounced cheques in FalconPro Real Estate Accounting Software. Step-by-step guide for property managers.

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How to Change Contract Status in FalconPro Real Estate Software

Introduction

FalconPro Real Estate Software now provides an easier way to change contract status, eliminating the need for manual approval requests. Users can:
✅ Change contract status from “Terminated” to “Draft” if terminated by mistake.
✅ Reactivate contracts without requesting a password from support.
✅ Ensure that rent revenue vouchers are automatically updated.

This guide explains how to change contract status, when this feature should be used, and what limitations apply.

1. Understanding Contract Status Changes in FalconPro

Previously, to change the status of a contract, users had to:
❌ Use a special utility tool.
❌ Press Control + Double Click to generate a security code.
❌ Send the code to FalconPro Support for a password.

💡 New Feature: Now, users can directly change contract status from the contract details screen without requesting a password.

2. Granting User Authority for Contract Status Changes

Before changing contract status, the admin must approve the user for this action.

Steps to Approve a User for Contract Status Changes:

Admin logs into FalconPro using an Admin account.
Go to the Approval Window.
Locate Approval Number: 89 (Change Contract Status).
Enable the Approval for the User.
Save the Changes.

✅ Now, the user can change contract status without needing further admin approval.

3. Changing a Contract Status from “Terminated” to “Draft”

If a contract was terminated by mistake, it can now be restored to Draft status.

Steps to Change a Contract to Draft Status:

Open the Contract Details Screen.
Click on “Change Status”.
Select the New Status: “Draft”.
Click OK.
Enter the Reason for Status Change (e.g., “Fix termination issue”).
Confirm the Action.

✅ The contract will now be restored to “Draft” and can be activated again.

📌 Important:

FalconPro automatically cancels all revenue vouchers issued after the original termination date.
The system restores cancelled revenue vouchers once the contract is back in “Draft” status.

4. What Statuses Can Be Changed?

🔄 Allowed Changes:
✔ Terminated → Draft (to fix a termination mistake).
✔ Cancelled → Draft (to reactivate a wrongly canceled contract).

🚫 Restricted Changes:
❌ Users cannot change a contract to “Cancelled” or “Terminated” using this option.
❌ To properly terminate or cancel a contract, follow the standard FalconPro procedures.

5. What Happens After Changing a Contract to Draft?

✅ The contract is reactivated and can be modified.
✅ All previously cancelled revenue vouchers are restored.
✅ Users can continue invoicing and managing the contract.

6. Best Practices for Using the Change Status Feature

✅ Use this feature ONLY if a contract was terminated or canceled by mistake.
✅ Ensure that rent revenue vouchers are correctly updated after changing the status.
✅ Do not attempt to bypass proper termination or cancellation procedures.
✅ Confirm admin approval (Approval Number: 89) before using this feature.

Conclusion

FalconPro Real Estate Software now provides a simple and secure way to change contract status, ensuring that mistaken terminations or cancellations can be corrected easily. By following these steps, users can restore contracts and update revenue vouchers without manual approval requests.

FAQs

1. Can I use this option to terminate a contract?

No, contracts must be terminated through the standard process to ensure correct revenue calculations.

2. What happens to rent revenue vouchers when I restore a contract?

FalconPro will restore any cancelled revenue vouchers after changing the contract status to “Draft”.

3. Can I change a contract back to “Cancelled”?

No, cancellation must be done through standard procedures to ensure proper accounting adjustments.

4. How do I get admin approval for this feature?

Ask an admin to enable Approval Number 89 (Change Contract Status) in FalconPro.

5. What should I do if I get an error message when changing contract status?

Check if you have the required Approval Number 89 from the admin.

Important Links

SEO Metadata

Focus Keyphrase: real estate management system
SEO Title: Changing Contract Status in FalconPro Real Estate Management System
Slug: change-contract-status-falconpro-real-estate-management
Meta Description: Learn how to change contract status in FalconPro Real Estate Management System to correct termination or cancellation mistakes. Step-by-step guide.

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How to Set Up and Manage Opening Balances in FalconPro Real Estate Software

Introduction

Setting up opening balances correctly is essential for accurate financial reporting in FalconPro Real Estate Software. The system provides two methods to manage opening balances:
✅ Using the Open Balance Module (for direct balance entry).
✅ Using Journal Vouchers (JV) (recommended for flexibility and cost center tracking).

This guide explains both methods, the advantages of using Journal Vouchers (JVs), and how to edit, adjust, or post opening balances in FalconPro.

1. Understanding Accounting Periods in FalconPro

Before adding an opening balance, users must:
✅ Open the relevant accounting period.
✅ Ensure the correct period is selected before entering balances.

📌 Steps to Enable Editing for an Accounting Period:

Go to Accounting → General Ledger.
Select the Period to Edit (e.g., Period 4).
Click “Enable Editing for Opening Balance”.

✅ Now, this period is unlocked for opening balance entry.

2. Adding an Opening Balance Using the Open Balance Module

The Open Balance Module is used to enter initial balances for accounts directly.

Steps to Add an Opening Balance:

Go to Administration → Opening Balance.
Ensure the Correct Period is Selected.
Click “Add” to Enter Account Balances.
Select an Account from the Chart of Accounts.
Enter Debit or Credit Amounts.
Ensure Total Debits = Total Credits.
Click “Save” to Record the Opening Balance.

✅ Now, the opening balances are recorded for the selected accounts.

🚫 Limitations of This Method:

Users cannot enter the same account multiple times.
Cost centers cannot be assigned (e.g., buildings, properties).
Adjustments after posting require manual corrections.

3. Recommended Method: Using Journal Vouchers (JV) for Opening Balances

To provide more flexibility, FalconPro recommends using Journal Vouchers (JV) instead of the Open Balance Module.

Steps to Add an Opening Balance Using Journal Vouchers (JV):

Go to Accounting → Journal Vouchers.
Click “New JV” to Create a New Voucher.
Set the Date as the Start of the Opening Balance Period (e.g., January 1, 2021).
Enter a Remark:
- Example: “Opening Balance for 2021.”
Add the Required Accounts:
- Bank Account → Debit: 500,000 AED
- Customer Accounts → Debit: 300,000 AED (linked to Building A)
- Customer Accounts → Debit: 200,000 AED (linked to Building B)
- Owner Equity → Credit: 1,000,000 AED
Ensure Total Debits = Total Credits.
Click “Save” to Store the Journal Voucher.

✅ Now, the opening balance is saved as a Journal Voucher and can be modified anytime before posting.

4. Benefits of Using Journal Vouchers for Opening Balances

✅ Flexibility to Edit: Users can edit, add, or remove accounts before posting.
✅ Ability to Assign Cost Centers: Allows linking customer accounts to specific buildings or contracts.
✅ Multiple Entries for the Same Account: Users can split balances across multiple properties.
✅ Easy Adjustments: Instead of deleting balances, users can modify JVs anytime before posting.

🚫 Drawback:

The Journal Voucher must be manually posted to finalize the balance.

5. Posting the Journal Voucher (Finalizing the Opening Balance)

Once the opening balance is verified, it must be posted to finalize the entries.

Steps to Post the Journal Voucher:

Go to Accounting → GV Posting.
Select the Journal Voucher Created for the Opening Balance.
Click “Post”.

✅ Now, the opening balance is officially recorded and locked.

🚫 Once posted, the opening balance cannot be edited.

6. How to Unpost and Edit a Journal Voucher (If Needed)

If an error is found after posting, users must unpost the Journal Voucher to edit it.

Steps to Unpost a Journal Voucher:

Go to Accounting → GV Posting.
Find the Posted Journal Voucher.
Click “Unpost”.
Go Back to the Journal Voucher and Edit the Balances.
Save the Changes and Post Again.

✅ Now, the updated balances are reflected in FalconPro.

7. Best Practices for Managing Opening Balances in FalconPro

✅ Use Journal Vouchers instead of the Open Balance Module for flexibility.
✅ Ensure accounting periods are correctly opened before entering balances.
✅ Verify Total Debits = Total Credits before posting.
✅ Always review balances before finalizing the Journal Voucher.
✅ Unpost and correct errors before closing the accounting period.

Conclusion

FalconPro Real Estate Software provides two methods for setting up opening balances. Using Journal Vouchers (JV) is the recommended approach, as it allows for cost center tracking, multiple entries for the same account, and easy adjustments. By following these steps, businesses can ensure accurate financial data and a smooth transition into FalconPro.

FAQs

1. Can I use both methods (Open Balance & Journal Vouchers)?

No, it is recommended to use only one method to avoid duplicate balances.

2. Why can’t I edit an account once I enter it in the Open Balance Module?

The Open Balance Module does not allow multiple entries for the same account. Use Journal Vouchers instead.

3. Can I edit an opening balance after posting?

No, posted balances cannot be edited. You must unpost the Journal Voucher, edit it, and post again.

4. How do I link customer balances to specific buildings?

Use Journal Vouchers instead of Open Balance, as it allows assigning cost centers (e.g., specific buildings).

5. What happens if my debits and credits do not match?

FalconPro will not allow saving an unbalanced entry. Ensure Total Debits = Total Credits before saving.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: Setting Up Opening Balances in FalconPro Real Estate Accounting Software
Slug: opening-balance-falconpro-real-estate-accounting
Meta Description: Learn how to set up and manage opening balances in FalconPro Real Estate Accounting Software using Journal Vouchers (JV) for accurate financial tracking.

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How to Use Credit Notes and Debit Notes in FalconPro Real Estate Software

Introduction

In FalconPro Real Estate Software, credit notes and debit notes are used to correct financial transactions. A credit note is issued to a customer when a refund or adjustment is needed, while a debit note is used for supplier adjustments or expense corrections.

Credit notes are commonly used when refunding an amount to a tenant due to a lease contract termination or an overpayment. Debit notes are used when a supplier refunds an amount or when an expense needs correction.

This guide explains how to issue and manage credit notes and debit notes in FalconPro.

1. When to Use a Credit Note

A credit note is issued when the company needs to adjust or reduce an amount due from a customer. It is typically used in the following situations:

A tenant’s lease contract is terminated, and a refund must be issued.
A billing mistake was made, and the customer was overcharged.
A refund is given to a client for a service not provided or for any reason related to an incorrect transaction.

Once a credit note is issued, the customer’s balance is adjusted, reducing their payable amount.

2. Issuing a Credit Note for a Lease Contract Termination

If a lease contract is terminated and the tenant is entitled to a refund, a credit note must be generated from the leasing contract module.

Steps to Issue a Credit Note from a Lease Contract

Open FalconPro and go to the Leasing Module.
Select “Contracts” and search for the terminated contract.
Navigate to the “Final Settlement” tab.
Click “Generate Credit Note”.
FalconPro will automatically calculate the refundable amount.
Verify the details, including VAT adjustments.
Click “Save”.

After saving, the system will automatically apply the credit note to the tenant’s account. Since the refund is directly linked to the lease contract, no manual General Voucher (GV) is needed.

3. Issuing a Credit Note for Overpayments or Adjustments

If a customer was overcharged or a mistake was made in billing, a manual credit note must be issued.

Steps to Issue a Manual Credit Note in the Accounting Module

Go to “Accounting” and select “Credit Notes”.
Click “New Credit Note”.
Select the customer from the list.
Choose the account that needs adjustment (e.g., revenue or VAT).
Enter the credit amount and reason for issuing the credit note.
FalconPro will automatically generate a General Voucher (GV) with the correct debit and credit entries.
Click “Save”.

This credit note will now be reflected in the customer’s account, reducing their balance.

4. When to Use a Debit Note

A debit note is issued when the company needs to adjust an amount due to a supplier or correct an expense.

A debit note is typically used when:

A supplier refunds an overpayment made by the company.
A correction is needed for an expense recorded in the system.
An adjustment is required for VAT calculations on a supplier invoice.

Once a debit note is issued, the supplier’s balance is adjusted, increasing the payable amount.

5. Issuing a Debit Note for a Supplier Refund

When a supplier returns an amount due to an overpayment or incorrect billing, a debit note must be created to adjust the payable balance.

Steps to Issue a Debit Note in FalconPro

Go to “Accounting” and select “Debit Notes”.
Click “New Debit Note”.
Select the supplier from the list.
Enter the refund amount and description.
Choose the expense or VAT account that needs adjustment.
FalconPro will generate a General Voucher (GV) with the correct debit and credit adjustments.
Click “Save”.

Now, the supplier’s balance is updated to reflect the adjustment.

6. Key Differences Between Credit Notes and Debit Notes

A credit note is issued to customers, reducing their payable amount.
A debit note is issued for suppliers, adjusting expenses or increasing the payable amount.
Lease contract-related credit notes should always be issued from the leasing module.
Manual credit notes and debit notes are issued from the accounting module when needed for other adjustments.

7. Best Practices for Managing Credit and Debit Notes in FalconPro

Always issue lease-related credit notes from the leasing contract module to avoid errors.
Use the accounting module for service refunds or adjustments unrelated to lease contracts.
Verify VAT calculations before issuing credit or debit notes.
Ensure that the correct accounts are selected when creating a debit note for supplier adjustments.
Review all generated General Vouchers (GVs) to confirm that adjustments have been correctly applied.

Conclusion

FalconPro Real Estate Software provides an efficient way to manage credit notes and debit notes, ensuring that lease terminations, customer refunds, and supplier adjustments are properly recorded. By following these steps, businesses can ensure accurate financial records and smooth transaction adjustments.

FAQs

1. What is the difference between a credit note and a debit note?

A credit note is issued to customers (to refund amounts), while a debit note is issued for suppliers (to adjust expenses or refunds).

2. When should I issue a credit note from the leasing contract?

A credit note should be issued from the leasing contract module whenever a tenant is eligible for a refund due to contract termination. FalconPro will automatically adjust the amount.

3. What happens if a supplier refunds an amount to my company?

A debit note should be issued to adjust the supplier’s balance, ensuring the refund is recorded correctly.

4. Can I issue a credit note for VAT adjustments?

Yes, FalconPro allows issuing credit notes specifically for VAT corrections when necessary.

5. How do I check if a credit or debit note has been applied?

Go to “Accounting → Credit Notes” or “Debit Notes”, and check the status of the transaction.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: Managing Credit Notes and Debit Notes in FalconPro Real Estate Accounting Software
Slug: credit-debit-notes-falconpro-real-estate-accounting
Meta Description: Learn how to issue credit notes for refunds and debit notes for supplier adjustments in FalconPro Real Estate Accounting Software. Step-by-step guide for property managers.

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Managing Fixed Assets and Depreciation in FalconPro Real Estate Software

Introduction

Managing fixed assets efficiently is essential for accurate financial reporting in FalconPro Real Estate Software. FalconPro allows users to:
✅ Create and categorize fixed assets (e.g., cars, laptops, buildings).
✅ Track asset purchase values and depreciation schedules.
✅ Automatically generate depreciation entries and vouchers.
✅ Maintain a history of all depreciation transactions.

This guide explains how to set up, manage, and depreciate fixed assets using FalconPro.

1. Setting Up Fixed Assets in FalconPro

Before tracking depreciation, users must first define fixed asset categories and details.

Steps to Add a New Fixed Asset Category:

Go to Fixed Assets → Fixed Asset Categories.
Click “Add New Category”.
Enter the Category Name (e.g., Cars, Equipment, Furniture).
Click Save.

After creating a category, users can add subcategories to further classify assets.

2. Adding a Fixed Asset and Assigning Accounts

Once categories are set, users can add specific fixed assets and assign relevant accounting entries.

Steps to Add a Fixed Asset in FalconPro:

Go to Fixed Assets → Add New Fixed Asset.
Select the Asset Category (e.g., Cars).
Enter Fixed Asset Details:
- Asset Name (e.g., Toyota Corolla 2021).
- Purchase Date.
- Purchase Value (e.g., 50,000 AED).
- Depreciation Rate (e.g., 10% per year).
Set the Accounting Entries:
- Fixed Asset Account (Debited at purchase).
- Accumulated Depreciation Account (Credited during depreciation).
- Depreciation Expense Account (Debited during depreciation).
Click Save.

✅ Now, the fixed asset is recorded and ready for depreciation tracking.

3. Managing Fixed Asset Depreciation in FalconPro

FalconPro automatically calculates depreciation values based on the selected method and time period.

Steps to Process Asset Depreciation:

Go to Fixed Assets → Fixed Asset Depreciation.
Select the Asset to Depreciate.
Choose the Depreciation Period:
- ✅ Monthly
- ✅ Quarterly
- ✅ Yearly
- ✅ Custom Date
FalconPro Displays the Depreciation Preview:
- ✅ Total Depreciation Days
- ✅ Value Before Depreciation
- ✅ Depreciation Amount
- ✅ Value After Depreciation
Click “View Voucher” to Preview the Accounting Entry.
If Correct, Click “Create Voucher” to Finalize Depreciation.

✅ FalconPro will now generate a journal voucher (JV) for depreciation.

4. Understanding the Accounting Entries for Depreciation

When depreciation is recorded, FalconPro automatically creates an accounting entry:

Depreciation Expense (Debit) → Records the expense.
Accumulated Depreciation (Credit) → Reduces the asset value.

📌 Example Journal Entry for a Car Depreciation:

Debit Depreciation Expense → 5,000 AED
Credit Accumulated Depreciation → 5,000 AED

✅ This ensures accurate financial reporting while maintaining the asset’s history.

5. Reviewing Asset Depreciation History

FalconPro provides a complete depreciation history for all fixed assets.

Steps to View Depreciation Records:

Go to Fixed Assets → Depreciation History.
Select an Asset from the List.
Check the History of All Depreciation Entries:
- ✅ Voucher Number
- ✅ Depreciation Date
- ✅ Total Days Depreciated
- ✅ Amount Depreciated

✅ Users can double-click any entry to view or adjust details.

6. Best Practices for Fixed Asset Management in FalconPro

✅ Ensure all fixed assets are properly categorized before adding new items.
✅ Set up depreciation accounts correctly to avoid miscalculations.
✅ Verify depreciation calculations before generating vouchers.
✅ Use the history log to track asset values and ensure compliance.
✅ Consult auditors for asset structuring and depreciation methods.

Conclusion

FalconPro Real Estate Software provides a powerful and automated system for tracking fixed assets and depreciation. By following these steps, businesses can:
✅ Accurately record asset purchases and track their financial impact.
✅ Ensure compliance with accounting standards.
✅ Automate depreciation calculations and journal entries.

FAQs

1. What happens if I enter the wrong depreciation rate?

Depreciation rates should be set carefully at asset creation. If an incorrect rate is used, users must manually adjust future depreciation calculations.

2. Can I change an asset’s purchase value after saving it?

No, once an asset is saved, its purchase value cannot be edited. Adjustments must be made using journal entries.

3. How does FalconPro calculate depreciation?

FalconPro uses straight-line depreciation by default but allows custom schedules based on company policy.

4. Can I process depreciation for multiple assets at once?

Yes, FalconPro allows batch processing of depreciation for multiple assets, reducing manual work.

5. What if an asset is sold or disposed of?

When an asset is sold, FalconPro provides an asset disposal option, which removes it from active records and generates a final accounting entry.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: Managing Fixed Assets and Depreciation in FalconPro Real Estate Accounting Software
Slug: fixed-assets-depreciation-falconpro-real-estate-accounting
Meta Description: Learn how to set up fixed assets and process depreciation in FalconPro Real Estate Accounting Software. Step-by-step guide for accurate financial tracking.

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How to Adjust a Receipt from Another Contract in FalconPro Real Estate Software

Introduction

In FalconPro Real Estate Software, users may need to move payments between contracts when a tenant has multiple contracts and wants to transfer part of a payment from one contract to another. This is done using the Adjusting Receipt feature, which allows payments to be shifted without requiring refunds or manual adjustments.

This guide explains how to:
✅ Adjust payments from one contract to another using an adjusting receipt.
✅ Ensure correct accounting entries for cost centers and contract tracking.
✅ Process remaining payments through cash, cheque, or other methods.

1. What is an Adjusting Receipt?

An Adjusting Receipt is a payment type used when a tenant wants to move an amount from one contract to another. Instead of handling this manually through journal entries, FalconPro allows users to:

Select an “Adjusting” payment type when creating a receipt.
Deduct the amount from one contract and allocate it to another.
Ensure that the correct cost centers and contract numbers are assigned automatically.

2. Creating an Adjusting Receipt in FalconPro

When a tenant requests to transfer an amount from one contract to another, follow these steps:

Steps to Create an Adjusting Receipt:

Go to “Accounting” → “Receipt Vouchers”.
Click “New” to Create a New Receipt.
Select the Payment Type as “Adjusting”.
Choose the Contract to Adjust the Payment To:
- Click “Adjusting To” and select the new contract where the payment should be applied.
- Double-click to confirm.
Choose the Contract to Adjust the Payment From:
- Move to the right side and click “Adjust From Contract”.
- Select the old contract from where the amount will be deducted.
- Confirm the contract details and unit information.
Enter the Adjusted Amount:
- Example: 5,000 AED transferred from Contract A to Contract B.
Enter Any Remarks:
- Example: “Contract renewal adjustment: 5,000 AED transferred.”
Check the Transaction Date and Details.
Click “Save” to Complete the Adjusting Receipt.

✅ Now, the amount has been successfully transferred between contracts.

3. Verifying the Adjustment in the General Voucher (GV)

After saving the adjusting receipt, FalconPro automatically creates a General Voucher (GV) to reflect the adjustment in the accounts.

Steps to Check the Adjusting Receipt in the GV:

Go to “Accounting” → “General Ledger”.
Search for the GV Related to the Adjusting Receipt.
Verify the Accounts Affected:
- The debit and credit entries should reflect the correct cost centers for each contract.
- The original contract will have an amount deducted.
- The new contract will show an incoming payment.

✅ This ensures the accounting records correctly reflect the payment transfer.

4. Processing Additional Payments for the Contract

Once the adjusting receipt is applied, the tenant may still have additional payments to make. These payments can be processed using:
✅ Cash
✅ Cheque
✅ Bank Transfer
✅ Another Adjusting Receipt (if needed)

Steps to Process Additional Payments:

Go to the Leasing Contract Module.
Click “Receipt” to Create a New Payment.
Check the Pending Installments:
- Example: 10,000 AED remaining after a 5,000 AED adjustment.
Select a Payment Method:
- Cash: Enter the amount and save.
- Cheque: Enter cheque details before saving.
- Bank Transfer: Record transaction details.
If Discount is Applicable, Apply the Discount Before Saving.

✅ Now, the contract’s outstanding balance is updated, reflecting the adjusted receipt and the new payment.

5. Best Practices for Using Adjusting Receipts in FalconPro

✅ Always verify contract details before making adjustments.
✅ Use the Adjusting Receipt only for valid transfers between contracts.
✅ Ensure that cost centers and accounts are correctly updated in the General Voucher.
✅ Process remaining balances separately after adjustments.
✅ Check for applicable discounts before finalizing payments.

Conclusion

FalconPro Real Estate Software provides a structured and efficient way to transfer payments between contracts using Adjusting Receipts. This feature ensures accurate financial records while eliminating the need for manual adjustments. By following these steps, businesses can:
✅ Easily manage tenant payment adjustments.
✅ Maintain accurate accounting records without manual interventions.
✅ Ensure smooth contract management and financial transparency.

FAQs

1. When should I use an adjusting receipt?

Use an Adjusting Receipt when a tenant wants to transfer a payment from one contract to another instead of paying separately.

2. Will the adjusting receipt affect the General Ledger?

Yes, FalconPro automatically creates a General Voucher (GV) to adjust the accounts for both contracts.

3. Can I adjust multiple payments at once?

Yes, multiple transactions can be adjusted in a single receipt, provided they are from the same customer.

4. What happens if I enter the wrong amount in an adjusting receipt?

Adjustments can be reversed or corrected by creating another adjusting receipt or modifying the General Voucher.

5. Can I apply a discount when processing the remaining balance?

Yes, FalconPro allows users to apply a discount before finalizing the payment.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: Adjusting Receipts Between Contracts in FalconPro Real Estate Accounting Software
Slug: adjusting-receipts-falconpro-real-estate-accounting
Meta Description: Learn how to transfer payments between contracts using Adjusting Receipts in FalconPro Real Estate Accounting Software. Step-by-step guide for property managers.

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How to Add, Edit, and Use Cost Centers in FalconPro Real Estate Software

Introduction

In FalconPro Real Estate Software, cost centers are used to categorize expenses and revenues for accurate financial tracking. Cost centers are structured in a tree format, where a parent cost center can have multiple child cost centers.

This guide explains:
✅ How to create new cost centers
✅ How to add subcategories (child cost centers)
✅ How to assign cost centers to transactions and properties

1. Understanding Cost Center Structure in FalconPro

FalconPro follows a hierarchical cost center structure:

Parent Cost Center → The main category (e.g., “Vehicles”).
Child Cost Center Level 1 → A subcategory under the parent (e.g., “Dubai Cars”).
Child Cost Center Level 2 → A further breakdown (e.g., “Dubai Car 1”).

Each cost center must have at least one child before it can be used in transactions.

2. Creating a New Cost Center

To add a new cost center, follow these steps:

Steps to Create a Parent Cost Center:

Go to “Accounting” → “Cost Center Management”.
Click on “New” to Create a New Cost Center.
Enter the Cost Center Name (e.g., “Vehicles”).
Save the Cost Center.

✅ Now, the parent cost center is created, and you can add child cost centers.

3. Adding Child Cost Centers (Subcategories)

Once a parent cost center is created, child cost centers can be added under it.

Steps to Add a Child Cost Center:

Select the Parent Cost Center from the List (e.g., “Vehicles”).
Click on “Add Child”.
Enter the Child Cost Center Name (e.g., “Dubai Cars”).
Save the New Cost Center.

✅ Now, the cost center hierarchy includes a parent (“Vehicles”) and a child (“Dubai Cars”).

If further subcategories are needed, repeat the process to create Level 2 child cost centers (e.g., “Dubai Car 1”, “Dubai Car 2”).

4. Assigning Cost Centers to Transactions and Properties

Cost centers can be assigned to expenses, revenues, and properties to track financial data accurately.

Steps to Assign a Cost Center to a Property:

Go to “Property Management”.
Open the Property Details Page.
Click on the “Cost Center” Tab.
Select the Relevant Cost Center from the List.
Click “Save”.

Now, all transactions linked to this property will be categorized under the selected cost center.

Steps to Use a Cost Center in Accounting Transactions:

Open an Accounting Transaction (e.g., Expense, Revenue, or Journal Voucher).
Look for the Cost Center Field.
Double-click and Select the Relevant Cost Center.
Save the Transaction.

✅ Now, the transaction is linked to the selected cost center for reporting purposes.

5. Editing an Existing Cost Center

If a cost center needs modification (e.g., renaming or adding more child cost centers), follow these steps:

Steps to Edit a Cost Center:

Go to “Cost Center Management”.
Find the Cost Center in the List.
Click on “Edit”.
Modify the Name or Add New Child Cost Centers.
Click “Save”.

✅ Now, the changes will apply to all linked transactions.

6. Best Practices for Cost Center Management

✅ Use a hierarchical structure (Parent → Child → Sub-child) to improve financial tracking.
✅ Ensure every parent cost center has at least one child cost center before using it.
✅ Regularly update cost centers to reflect business needs.
✅ Assign cost centers to properties and transactions for better reporting.
✅ Use cost centers in reports to analyze revenues and expenses by category.

Conclusion

FalconPro Real Estate Software provides a structured approach to managing cost centers. By setting up and using cost centers effectively, businesses can:
✅ Track expenses and revenues more efficiently.
✅ Categorize financial data by property, department, or business unit.
✅ Ensure accurate accounting and financial reporting.

FAQs

1. Why do I need cost centers?

Cost centers help businesses track income and expenses by category, making financial reporting more detailed and accurate.

2. Can I create a cost center without a child cost center?

No, every cost center must have at least one child cost center before it can be used in transactions.

3. How can I remove a cost center?

A cost center cannot be deleted if it has linked transactions. Instead, it can be disabled to prevent future use.

4. Can I assign multiple cost centers to one transaction?

Yes, FalconPro allows splitting costs between multiple cost centers in certain transactions.

5. How can I generate reports by cost center?

Go to Reports → Cost Center Reports, select the desired cost center, and generate financial summaries.

Important Links

SEO Metadata

Focus Keyphrase: real estate management software
SEO Title: How to Add, Edit, and Use Cost Centers in FalconPro Real Estate Management Software
Slug: cost-centers-falconpro-real-estate-management
Meta Description: Learn how to create, edit, and use cost centers in FalconPro Real Estate Management Software for better financial tracking and reporting.

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How to Generate and Use the Rent Revenue Report with VAT in FalconPro Real Estate Software

Introduction

FalconPro Real Estate Software includes a Rent Revenue Report, which provides a detailed breakdown of rent revenue based on contract months, regardless of whether the rent has been collected. This report helps property managers:
✅ Retrieve actual rent revenue for any period.
✅ Calculate VAT on commercial properties.
✅ Generate detailed reports by contract, unit, and building.

This guide explains how to use the Rent Revenue Report, filter revenue data, and export reports for tax or financial analysis.

1. Checking FalconPro Version for Rent Revenue Report

The Rent Revenue Report is available in FalconPro Version 19.8 or later. Before using the feature, ensure that your FalconPro system is updated to this version.

Steps to Check Your FalconPro Version:

Go to “Help” → “About FalconPro”.
Check the Version Number.
If your version is below 19.8, update FalconPro before proceeding.

2. Accessing the Rent Revenue Report

To retrieve rent revenue data, follow these steps:

Steps to Open the Rent Revenue Report:

Go to Accounting → Reports → Rent Revenue Report.
Select the Date Range (Due Date From – To).
- Example: From 01-01-2020 to Today.
Click “Retrieve” to Generate the Report.

✅ Now, the system will display the rent revenue details for the selected period.

3. Understanding How Rent Revenue is Calculated

The Rent Revenue Report is based on:
✅ Contract duration (start and end date).
✅ Monthly breakdown of rent amounts.
✅ Revenue for each contract month, regardless of whether rent is collected.

💡 Example:
If a 12-month contract starts on March 25, rent revenue is calculated for each month. Even if rent is unpaid, the contract revenue is still counted as earned revenue for that month.

4. Filtering Revenue Data: “Has Revenue” vs. “No Revenue”

FalconPro allows users to filter revenue based on property ownership status:

✅ “Has Revenue” Option:

Shows properties where the user is the owner and revenue is recognized.

✅ “No Revenue” Option:

Shows properties managed for other owners, where FalconPro does not generate monthly rent revenue but tracks earnings for external landlords.

Steps to Filter by Revenue Status:

In the Rent Revenue Report, select “Has Revenue” or “No Revenue”.
Click “Retrieve”.

✅ Now, the report will only display properties based on the selected revenue status.

5. Calculating VAT in the Rent Revenue Report

Some businesses generate VAT reports based on actual rent revenue instead of collected amounts. FalconPro provides a VAT calculation feature in the Rent Revenue Report.

Steps to Calculate VAT in the Report:

Enable the VAT Columns:
- Locate the “VAT %” and “VAT Amount” fields in the report.
Identify the Property Type:
- Residential Units: VAT = 0%
- Commercial Units: VAT = 5%
Filter by Commercial Units (Optional):
- Click “Retrieve Only Commercial Units” to view only VAT-applicable contracts.

✅ Now, FalconPro will display the VAT calculated for commercial properties.

6. Viewing and Exporting Report Details

The Rent Revenue Report provides multiple levels of detail:

✅ Detail-Wise View:

Shows monthly revenue for each contract.
Each unit is listed multiple times (once per due month).

✅ Building-Wise View:

Shows total rent revenue for each building.

Steps to Export the Rent Revenue Report:

Click “Print” to generate a hard copy.
Click “Export to Excel” to download the report.

✅ Now, the report can be saved, modified, or shared for financial analysis.

7. Configuring VAT Settings for New Properties

VAT settings must be manually configured for new buildings or units to ensure accurate reporting.

Steps to Set VAT for New Properties:

Go to Property Management → Probability Setup.
Select a Building.
Choose the Unit Type:
- Commercial (VAT = 5%)
- Residential (VAT = 0%)
Click “Save”.

✅ Now, VAT will be correctly applied in the Rent Revenue Report.

8. Best Practices for Using the Rent Revenue Report in FalconPro

✅ Ensure FalconPro is updated to Version 19.8 or later to use the feature.
✅ Use the “Has Revenue” and “No Revenue” filters to get accurate owner earnings.
✅ Verify VAT settings for all commercial units to avoid incorrect tax calculations.
✅ Use the report to track rent revenue trends across months and years.
✅ Export data to Excel for further analysis and tax reporting.

Conclusion

FalconPro Real Estate Software’s Rent Revenue Report with VAT allows property managers to accurately track rental revenue based on contract months while ensuring proper VAT calculations for tax reporting. By following these steps, users can:
✅ Retrieve rent revenue data for any period.
✅ Calculate VAT for commercial properties automatically.
✅ Export and analyze data for financial reporting.

FAQs

1. What is the difference between Rent Revenue and Rent Collection?

Rent Revenue is based on contract months (whether paid or not), while Rent Collection reports show actual received payments.

2. How can I calculate VAT for only commercial properties?

Use the “Retrieve Only Commercial Units” filter to view VAT amounts for commercial contracts.

3. Can I edit past revenue reports?

No, rent revenue is calculated automatically based on contract periods.

4. How do I verify if a property has correct VAT settings?

Check the Probability Setup section under Property Management and ensure the correct VAT type is selected.

5. Can I use this report for tax filing?

Yes, businesses can use the Rent Revenue Report with VAT for tax calculations and VAT submissions.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: Rent Revenue Report with VAT in FalconPro Real Estate Accounting Software
Slug: rent-revenue-report-vat-falconpro-real-estate-accounting
Meta Description: Learn how to generate the Rent Revenue Report with VAT in FalconPro Real Estate Accounting Software. Track rent revenue, apply VAT, and export financial reports.

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How to Set Up and Use General Fees Items in FalconPro Real Estate Software

Introduction

In FalconPro Real Estate Software, users can collect money for non-contract-related transactions using General Fees Items. This feature allows businesses to:
✅ Record collections that are not linked to contracts or customers.
✅ Create custom fee categories for different revenue sources.
✅ Flexibly assign payments to various accounts.

This guide explains how to set up a General Fees Item, link payments to different accounts, and manage non-contract-related revenue collections.

1. What is a General Fees Item?

A General Fees Item is used when collecting money not related to a specific contract, property, or customer. Examples include:

Selling company assets (e.g., vehicles, office furniture).
Receiving commissions, loans, or other business-related payments.
Collecting advance payments from landlords.

Instead of forcing a transaction into a predefined contract, FalconPro allows users to create a General Fees Item that can be linked to any account as needed.

2. Setting Up a General Fees Item

To create a General Fees Item, follow these steps:

Steps to Create a General Fees Item in FalconPro:

Go to “Administration” → “Master Files”.
Select “Accounting” → “Fees Items”.
Click “Create New Fees Item”.
Enter a Name (e.g., “General Collection”).
Set the Item Type as “Others”.
Remove Mandatory Checkboxes:
- Uncheck “Mandatory Contract” (so the fee is not linked to a contract).
- Uncheck “Mandatory Property” (so it can be used for general collections).
Enable “Change Account and Receipt” Option:
- This allows users to select any credit account when recording a receipt.
Click “Save”.

✅ Now, the General Fees Item is created and ready to use in receipts.

3. Using the General Fees Item for Collections

Once the General Fees Item is created, it can be used to record collections that are not linked to contracts.

Steps to Record a General Collection:

Go to “Accounting” → “Receipts”.
Click “New Receipt”.
Choose the General Fees Item (e.g., “General Collection”).
Select a Credit Account:
- Example: “Old Car Sale” if selling a company car.
- Example: “Commission Revenue” if collecting a business commission.
Enter the Collection Amount (e.g., 20,000 AED).
Select the Payment Method:
- ✅ Cash
- ✅ Cheque
- ✅ Bank Transfer
Enter Additional Details:
- Customer Name (if applicable).
- Remarks (e.g., “Company vehicle sale”, “Landlord advance payment”).
Click “Save” to Record the Transaction.

✅ Now, the money is collected under the selected General Fees Item.

4. Handling Different Payment Scenarios

Users can assign different accounts for various payment types based on business needs.

Example 1: Selling an Old Car

Select “General Collection”.
Choose “Old Car Sale” as the Credit Account.
Enter Amount (e.g., 20,000 AED).
Select Payment Type (Cash/Cheque).

✅ The amount is now recorded as revenue from the sale.

Example 2: Receiving Commission for a Service

Select “General Collection”.
Choose “Commission Revenue” as the Credit Account.
Enter Amount (e.g., 5,000 AED).
Select Payment Type.

✅ The amount is now recorded as commission revenue.

Example 3: Collecting Advance Payments from a Landlord

Select “General Collection”.
Choose “Landlord Advance Payment” as the Credit Account.
Enter Amount (e.g., 10,000 AED).
Select Payment Type.

✅ The amount is recorded under the landlord’s account for future transactions.

5. Configuring Automatic Account Selection for General Collections

If a General Fees Item is frequently used for a specific account, FalconPro allows users to predefine the account so it is automatically selected.

Steps to Predefine an Account for a General Fees Item:

Go to “Administration” → “Master Files”.
Select “Accounting” → “Fees Items”.
Edit the Existing General Fees Item (e.g., “Landlord Advance Payment”).
Assign a Default Credit Account (e.g., “Landlord Liabilities”).
Click “Save”.

✅ Now, whenever this item is selected, FalconPro will automatically assign the linked account.

💡 Optional: If users want the flexibility to select an account manually, they can leave the “Change Account and Receipt” option enabled.

6. Best Practices for Using General Fees Items in FalconPro

✅ Use meaningful names for General Fees Items (e.g., “Asset Sales”, “Loan Collections”, “Landlord Payments”).
✅ Enable account selection flexibility if payments may be recorded under different revenue sources.
✅ Assign predefined accounts if payments always relate to a fixed category (e.g., landlord advance payments).
✅ Ensure that VAT rules are followed if applicable to certain collections (e.g., service commissions).
✅ Use clear remarks in receipts to track revenue sources efficiently.

Conclusion

FalconPro Real Estate Software provides a structured approach to managing non-contract-related revenue through General Fees Items. This feature ensures that all types of collections can be properly recorded, whether they relate to sales, commissions, loans, or advance payments. By following these steps, businesses can:
✅ Streamline financial transactions not linked to contracts.
✅ Ensure accurate reporting of different revenue sources.
✅ Maintain flexibility in assigning payments to various accounts.

FAQs

1. Can I use General Fees Items for contract-related payments?

No, General Fees Items are only for payments unrelated to contracts. Contract-related payments must be recorded under the leasing module.

2. Can I change the assigned account after saving a receipt?

No, once a receipt is saved, the assigned account cannot be changed. You must create a new adjusting entry if corrections are needed.

3. What happens if I don’t assign a default account to a General Fees Item?

Users will need to manually select an account each time they record a receipt.

4. Can I track all transactions related to a General Fees Item?

Yes, FalconPro allows users to generate custom reports for any Fees Item to track total collections.

5. Can I link a General Fees Item to VAT calculations?

Yes, VAT can be applied if the collection is subject to tax, but this must be configured manually in the receipt entry.

Important Links

SEO Metadata

Focus Keyphrase: real estate management software
SEO Title: Setting Up and Using General Fees Items in FalconPro Real Estate Management Software
Slug: general-fees-items-falconpro-real-estate-management
Meta Description: Learn how to set up and use General Fees Items in FalconPro Real Estate Management Software for non-contract-related revenue collections.

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How to Set Up and Use General Fees Items in FalconPro Real Estate Software

Introduction

In FalconPro Real Estate Software, businesses often need to collect money not linked to specific contracts or customers. FalconPro allows this through General Fees Items, which provide flexibility in managing non-contract-related collections such as:
✅ Selling company assets (e.g., vehicles, equipment, or furniture).
✅ Receiving commissions, loans, or miscellaneous income.
✅ Collecting advance payments from landlords.

This guide explains how to create, assign, and use General Fees Items effectively.

1. Understanding General Fees Items in FalconPro

A General Fees Item is used for recording transactions not linked to any specific contract, property, or customer. Unlike other revenue types, these transactions allow the user to:

Choose any revenue account during receipt entry.
Remove mandatory contract or property assignments from transactions.
Apply different payment types (cash, cheque, bank transfer).

This flexibility ensures that all types of collections can be recorded without affecting contract-based revenue tracking.

2. Creating a General Fees Item in FalconPro

Before collecting payments, users must first set up a General Fees Item.

Steps to Create a General Fees Item:

Go to “Administration” → “Master Files”.
Select “Accounting” → “Fees Items”.
Click “Create New Fees Item”.
Enter the Name (e.g., “General Collection”).
Set the Item Type as “Others”.
Disable Mandatory Fields:
- Uncheck “Mandatory Contract” (not tied to specific contracts).
- Uncheck “Mandatory Property” (not linked to properties).
Enable Account Selection in Receipts:
- Check “Change Account in Receipt” to allow choosing any account when making a receipt.
Click “Save”.

✅ Now, the General Fees Item is created and ready for use in receipts.

3. Using the General Fees Item for Non-Contract Collections

After setting up the General Fees Item, it can be used for recording collections that do not belong to a specific contract.

Steps to Record a General Collection Receipt:

Go to “Accounting” → “Receipts”.
Click “New Receipt”.
Select the General Fees Item (e.g., “General Collection”).
Double-click to Choose a Revenue Account:
- Example: “Old Car Sale” (if selling a company car).
- Example: “Commission Revenue” (if collecting a business commission).
- Example: “Landlord Advance Payment” (if collecting money from a landlord).
Enter the Collection Amount (e.g., 20,000 AED).
Select Payment Method:
- ✅ Cash
- ✅ Cheque
- ✅ Bank Transfer
Add Additional Details:
- Customer Name (if applicable).
- Remarks (e.g., “Vehicle sale”, “Landlord advance payment”).
Click “Save” to Record the Collection.

✅ The money is now recorded under the selected General Fees Item and linked to the chosen revenue account.

4. Handling Different Collection Scenarios

Depending on the nature of the transaction, different revenue accounts can be used.

Example 1: Selling an Old Company Car

Select “General Collection”.
Choose “Old Car Sale” as the Revenue Account.
Enter Amount (e.g., 20,000 AED).
Select Payment Type (Cash, Cheque, or Bank Transfer).

✅ Now, the amount is recorded as revenue from the car sale.

Example 2: Receiving Commission for a Business Service

Select “General Collection”.
Choose “Commission Revenue” as the Revenue Account.
Enter Amount (e.g., 5,000 AED).
Select Payment Type.

✅ Now, the amount is categorized as business commission revenue.

Example 3: Collecting Advance Payments from a Landlord

Select “General Collection”.
Choose “Landlord Advance Payment” as the Revenue Account.
Enter Amount (e.g., 10,000 AED).
Select Payment Type.

✅ Now, the amount is recorded under the landlord’s account for future transactions.

5. Automating Revenue Account Selection for Recurring Transactions

For frequently used revenue sources (e.g., landlord advance payments), FalconPro allows users to predefine an account for automatic selection.

Steps to Predefine an Account for a General Fees Item:

Go to “Administration” → “Master Files”.
Select “Accounting” → “Fees Items”.
Edit the Existing General Fees Item (e.g., “Landlord Advance Payment”).
Assign a Default Revenue Account (e.g., “Landlord Liabilities”).
Click “Save”.

✅ Now, whenever this item is selected, FalconPro will automatically assign the linked account.

💡 Optional: If users want flexibility to select an account manually, they should keep the “Change Account in Receipt” option enabled.

6. Best Practices for Using General Fees Items in FalconPro

✅ Use clear names for General Fees Items (e.g., “Asset Sales”, “Commission Revenue”, “Landlord Payments”).
✅ Enable account selection flexibility if payments belong to different revenue sources.
✅ Assign predefined accounts for recurring transactions (e.g., landlord advance payments).
✅ Use clear remarks in receipts to ensure proper financial reporting.
✅ Ensure VAT rules are followed if applicable to certain collections (e.g., service commissions).

Conclusion

FalconPro Real Estate Software’s General Fees Item feature provides businesses with a structured way to handle non-contract revenue collections. By following these steps, users can:
✅ Easily record revenue from different sources.
✅ Avoid errors by categorizing non-contract payments correctly.
✅ Maintain flexibility in financial reporting.

FAQs

1. When should I use a General Fees Item instead of a contract-linked receipt?

Use General Fees Items when collecting money not linked to a specific contract, such as asset sales, commissions, or advance payments.

2. Can I change the assigned revenue account after saving a receipt?

No, once a receipt is saved, the assigned account cannot be changed. You must create an adjusting entry if corrections are needed.

3. What happens if I don’t assign a default account to a General Fees Item?

Users will need to manually select an account each time they record a receipt.

4. How can I track all transactions related to a General Fees Item?

Go to “Reports” → “Fees Item Reports”, select the desired item, and generate financial summaries.

5. Can I apply VAT to a General Fees Item?

Yes, VAT can be applied manually if the transaction is subject to tax.

Important Links

SEO Metadata

Focus Keyphrase: real estate management software
SEO Title: Setting Up and Using General Fees Items in FalconPro Real Estate Management Software
Slug: general-fees-items-falconpro-real-estate-management
Meta Description: Learn how to set up and use General Fees Items in FalconPro Real Estate Management Software for non-contract-related revenue collections.

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Automatically Generating VAT Adjusting Vouchers in FalconPro Real Estate Software

Introduction

VAT reconciliation is a crucial part of financial management, ensuring that input and output VAT are correctly adjusted and reported. FalconPro Real Estate Software provides an automatic VAT adjusting voucher feature to streamline this process, ensuring compliance with FTA (Federal Tax Authority) regulations.

This guide covers:
✅ How to automatically generate VAT adjusting vouchers.
✅ How FalconPro calculates VAT adjustments.
✅ How to split VAT adjustments across multiple accounts.

1. Understanding VAT Adjusting Vouchers

A VAT Adjusting Voucher is created when the input and output VAT need to be balanced. FalconPro automatically calculates the difference and generates a voucher to distribute the adjustment across multiple accounts.

Example:

VAT Output = AED 41,400
VAT Input = AED 934.4
Net VAT Payable = AED 40,465.6

FalconPro can split this amount across multiple accounts (e.g., 50% to Account A, 25% to Account B, and 25% to Account C).

2. Setting Up VAT Accounts in FalconPro

Before generating adjusting vouchers, ensure that VAT accounts are set up correctly.

Steps to Configure VAT Accounts:

Go to “Accounts Report Generator”.
Create a new VAT account (e.g., VAT Output, VAT Input).
Enable “Adjusting” for VAT-related accounts.
Set Debit and Credit Rules:
- VAT Output: Set as Credit (as collected from customers).
- VAT Input: Set as Debit (as paid to suppliers).
Choose VAT Output – VAT Input as the calculation method.
Click “Save”.

✅ Now, VAT accounts are ready for automatic voucher adjustments.

3. Generating VAT Adjusting Vouchers Automatically

Once VAT accounts are configured, FalconPro can automatically generate adjusting vouchers.

Steps to Create an Adjusting Voucher:

Go to “Adjust Voucher”.
Click “Add New”.
Select the VAT Adjusting Report from the List.
Enter the Adjustment Period (e.g., July 1 – September 30).
Click “Generate Adjusting Voucher”.
FalconPro will automatically distribute the VAT adjustment across the defined accounts.

✅ The VAT Output will be debited, and VAT adjustments will be credited to the selected accounts.

4. Reviewing the Adjusting Voucher

Once the adjusting voucher is created, verify the details to ensure correctness.

Steps to Review an Adjusting Voucher:

Go to “Adjusting Vouchers”.
Click “Preview”.
Check the VAT Output and VAT Input adjustments.
Ensure the net adjustment is correctly distributed (e.g., 50% – Account A, 25% – Account B, 25% – Account C).
Click “Confirm” if everything is correct.

✅ FalconPro will post the adjusting voucher in the accounting system automatically.

5. Best Practices for VAT Adjustments in FalconPro

✅ Ensure VAT accounts are correctly configured before generating adjusting vouchers.
✅ Regularly generate VAT adjusting vouchers to maintain compliance.
✅ Verify adjusting voucher calculations before confirming.
✅ Use account splitting for accurate financial reporting.
✅ Consult tax auditors if VAT discrepancies arise.

Conclusion

FalconPro Real Estate Software simplifies VAT reconciliation by automating VAT adjusting voucher generation. By following these steps, businesses can:
✅ Accurately balance VAT Output and VAT Input.
✅ Distribute VAT adjustments across multiple accounts.
✅ Ensure compliance with tax regulations effortlessly.

FAQs

1. What is the purpose of an adjusting voucher?

It ensures VAT Output and VAT Input are balanced, with the difference distributed among multiple accounts.

2. Can I manually adjust VAT instead of using an automatic voucher?

Yes, but FalconPro’s automatic adjusting vouchers eliminate manual errors and ensure compliance.

3. What happens if VAT adjustments are not done?

Unadjusted VAT accounts may lead to incorrect tax reporting and compliance issues.

4. Can I modify an adjusting voucher after generation?

Yes, but modifications should be done before confirming the voucher.

5. How often should VAT adjusting vouchers be generated?

It depends on reporting requirements, but typically monthly or quarterly adjustments are recommended.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: Automating VAT Adjusting Vouchers in FalconPro Real Estate Accounting Software
Slug: vat-adjusting-vouchers-falconpro-real-estate-accounting
Meta Description: Learn how to generate VAT adjusting vouchers automatically in FalconPro Real Estate Accounting Software for accurate tax reporting and compliance.

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Managing Fees, VAT Inclusive Client Invoices, and Multi-Fees in One Cheque in FalconPro Real Estate Software

Introduction

FalconPro Real Estate Software simplifies handling fees, VAT-inclusive client invoices, and multiple fee payments using a single cheque. This feature allows businesses to:
✅ Set up fees with or without VAT inclusion.
✅ Generate client invoices with VAT automatically calculated.
✅ Accept multiple fees using one cheque payment.

This guide explains how to set up and process these transactions efficiently.

1. Setting Up Fees and Configuring VAT Inclusion

Before generating invoices or processing payments, fees must be properly configured.

Steps to Set Up Fees with VAT in FalconPro:

Go to “Administration” → “Master Files”.
Select “Accounting” → “Fees Setup”.
Click “New Fee Item”.
Enter Fee Name (e.g., Service Charge).
Set the VAT Type:
- VAT Exclusive → VAT is added separately.
- VAT Inclusive → VAT is included in the fee amount.
Choose the Fee Category (e.g., Maintenance, Service).
Save the Fee Item.

✅ Now, this fee will be available when creating invoices or processing receipts.

2. Generating VAT-Inclusive Client Invoices

Client invoices can be generated with automatic VAT calculation.

Steps to Create a Client Invoice with VAT:

Go to “Accounting” → “Client Invoices”.
Click “New Invoice”.
Select the Customer.
Choose the Fee Type (e.g., Service Charge).
Enter the Amount (e.g., AED 10,000).
FalconPro Automatically Calculates VAT (if applicable).
Click “Save” to Generate the Invoice.

✅ Now, the invoice includes VAT details and is ready for payment processing.

3. Processing Multi-Fee Payments Using One Cheque

Clients often pay multiple fees using a single cheque. FalconPro allows this by distributing the payment across different fee categories.

Steps to Accept Multiple Fees with One Cheque:

Go to “Accounting” → “Receipts”.
Click “New Receipt”.
Select Payment Method: Cheque.
Enter Cheque Details (Cheque Number, Bank Name).
Choose Multiple Fee Items:
- Example:
  - Service Charge (AED 5,000)
  - Maintenance Fee (AED 3,000)
  - Parking Fee (AED 2,000)
Enter Total Cheque Amount (AED 10,000).
FalconPro Automatically Distributes the Amount to Each Fee.
Click “Save” to Complete the Transaction.

✅ Now, the single cheque is correctly applied to multiple fee categories.

4. Reviewing VAT and Fee Reports

Once invoices and payments are recorded, FalconPro provides detailed reports for VAT and fee tracking.

Steps to Generate Fee and VAT Reports:

Go to “Reports” → “VAT Reports” or “Fee Collection Reports”.
Select the Date Range.
Choose Filters (e.g., Fee Type, Customer).
Click “Retrieve” to View Data.
Export to Excel or PDF for Record-Keeping.

✅ Now, businesses can track VAT liabilities and total fee collections accurately.

5. Best Practices for Managing Fees and VAT in FalconPro

✅ Use VAT-inclusive pricing only when required by tax regulations.
✅ Ensure all fee items are correctly categorized before invoice generation.
✅ Accepting multiple fees with one cheque simplifies transaction reconciliation.
✅ Regularly review VAT reports to ensure compliance.
✅ Export fee reports to track revenue sources accurately.

Conclusion

FalconPro Real Estate Software provides a powerful and flexible system for managing fees, VAT-inclusive invoices, and multiple fee payments. By following these steps, businesses can:
✅ Ensure accurate VAT calculations in invoices.
✅ Easily process cheque payments for multiple fees.
✅ Generate detailed financial reports for compliance and tracking.

FAQs

1. What is the difference between VAT-inclusive and VAT-exclusive fees?

VAT-inclusive fees already include VAT, while VAT-exclusive fees add VAT separately to the total amount.

2. Can I modify a client invoice after generating it?

No, but you can issue a credit note and generate a new invoice if needed.

3. What happens if a client overpays using a cheque?

FalconPro allows adjusting the overpaid amount towards future invoices or issuing a refund.

4. How do I check if a VAT-inclusive invoice is correctly calculated?

Go to VAT Reports and verify the VAT amount breakdown in the invoice.

5. Can a cheque payment be split across multiple client invoices?

Yes, FalconPro enables applying a single cheque across multiple invoices or fees.

Important Links

SEO Metadata

Focus Keyphrase: real estate management software
SEO Title: Managing Fees, VAT Inclusive Client Invoices, and Multi-Fee Cheque Payments in FalconPro
Slug: fees-vat-inclusive-invoices-multi-fee-cheque-falconpro
Meta Description: Learn how to set up fees, generate VAT-inclusive invoices, and accept multiple fees in one cheque using FalconPro Real Estate Management Software.

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Utilizing Cash Collection, Bank Deposits, and Petty Cash Management in FalconPro Real Estate Software

Introduction

Managing cash collections, bank deposits, and petty cash efficiently is crucial for accurate financial tracking in real estate operations. FalconPro Real Estate Software provides a streamlined approach to:
✅ Track cash collections from tenants and property transactions.
✅ Deposit collected cash into a bank account.
✅ Use collected funds for petty cash expenses or landlord payments.

This guide explains how to record, deposit, and utilize collected funds effectively.

1. Recording Cash Collection in FalconPro

Cash collections refer to money received from tenants, landlords, or other sources that is temporarily stored before being deposited in a bank or used for expenses.

Steps to Record Cash Collection:

Go to “Accounting” → “Receipts”.
Click “New Receipt”.
Select “Cash” as the Payment Method.
Enter the Payment Details:
- Customer Name (if applicable).
- Transaction Description (e.g., “Rent Collection for Apartment A-102”).
- Amount Collected.
Save the Transaction.

✅ Now, the cash collection is recorded and can be tracked in FalconPro.

2. Depositing Collected Cash into a Bank Account

Once cash is collected, businesses may choose to deposit it into a bank account instead of using it for petty cash.

Steps to Deposit Cash into a Bank in FalconPro:

Go to “Accounting” → “Bank Deposits”.
Click “New Deposit”.
Select the Cash Account from Which Money is Deposited.
Choose the Bank Account to Deposit Into.
Enter Deposit Amount (e.g., AED 50,000).
Provide Bank Reference or Transaction Details.
Click “Save”.

✅ Now, the collected cash is reflected in the bank account.

3. Using Collected Cash as Petty Cash or for Landlord Payments

Instead of depositing the collected cash in the bank, FalconPro allows businesses to use it for petty cash expenses or direct payments to landlords.

Option 1: Allocating Cash to Petty Cash

Petty cash is used for small office expenses, maintenance, and minor transactions.

Steps to Transfer Collected Cash to Petty Cash:

Go to “Accounting” → “Petty Cash Transactions”.
Click “New Petty Cash Allocation”.
Select Cash Account (from which money is allocated).
Enter the Amount Transferred to Petty Cash.
Click “Save”.

✅ Now, cash is available for petty cash expenses.

Option 2: Using Collected Cash for Landlord Payments

If a landlord requests cash instead of a bank transfer, FalconPro allows users to allocate collected funds to the landlord’s account.

Steps to Process Landlord Payment from Cash Collection:

Go to “Accounting” → “Landlord Payments”.
Click “New Payment”.
Select the Landlord Name.
Choose “Cash Collection” as the Payment Source.
Enter Payment Amount and Description.
Click “Save”.

✅ Now, the collected cash is allocated to the landlord’s account.

4. Generating Reports for Cash Collection and Deposits

FalconPro provides detailed reports to track:
✅ Total cash collected per day/week/month.
✅ Pending bank deposits.
✅ Cash utilized for petty expenses or landlord payments.

Steps to Generate Cash Collection Reports:

Go to “Reports” → “Cash Collection Reports”.
Select the Date Range.
Filter by Property, Tenant, or Payment Source.
Click “Retrieve” to View Data.
Export the Report to Excel or PDF.

✅ Now, businesses can monitor their cash flow accurately.

5. Best Practices for Cash Collection and Deposits in FalconPro

✅ Regularly deposit collected cash to maintain accurate financial records.
✅ Use separate accounts for bank deposits and petty cash transactions.
✅ Track all landlord payments to avoid disputes.
✅ Use FalconPro’s reports to monitor cash flow and pending deposits.
✅ Reconcile cash balances frequently to prevent errors.

Conclusion

FalconPro Real Estate Software provides efficient tools for managing cash collections, bank deposits, and petty cash expenses. By following these steps, businesses can:
✅ Ensure accurate tracking of received cash.
✅ Easily deposit funds into bank accounts.
✅ Allocate collected cash for operational expenses or landlord payments.

FAQs

1. Can I deposit part of the collected cash and use the rest for expenses?

Yes, FalconPro allows partial bank deposits while keeping the rest for petty cash or landlord payments.

2. How do I verify if a cash collection has been deposited?

Go to Bank Deposit Reports and check the status of each deposit transaction.

3. Can I cancel a cash collection entry?

No, but you can issue an adjusting entry if a mistake was made.

4. What happens if a tenant overpays in cash?

The extra amount can be credited to the tenant’s account for future payments or refunded.

5. Can FalconPro generate monthly cash flow reports?

Yes, FalconPro provides detailed cash flow reports to track income and expenses.

Important Links

SEO Metadata

Focus Keyphrase: real estate accounting software
SEO Title: Managing Cash Collections, Bank Deposits, and Petty Cash in FalconPro Real Estate Software
Slug: cash-collection-bank-deposit-petty-cash-falconpro
Meta Description: Learn how to manage cash collection, bank deposits, and petty cash transactions efficiently using FalconPro Real Estate Software.

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Booking a Property in FalconPro Real Estate Software

Introduction

FalconPro Real Estate Software streamlines the property booking process, allowing property managers to efficiently handle unit reservations, manage client details, and finalize contracts. This feature helps businesses:
✅ Reserve units for potential tenants before signing a contract.
✅ Collect booking payments and issue receipts.
✅ Convert a booking into a finalized lease contract.

This guide explains how to book a property, manage booking payments, and complete the leasing process in FalconPro.

1. Understanding Property Booking in FalconPro

A property booking is a temporary reservation of a unit before finalizing the lease contract. The booking process includes:

Checking unit availability.
Collecting a booking deposit from the tenant.
Holding the unit until contract finalization.

Once the tenant confirms the lease, the booking is converted into a lease contract.

2. Booking a Property in FalconPro

To reserve a unit for a tenant, follow these steps:

Steps to Book a Property:

Go to “Leasing” → “Booking Management”.
Click “New Booking”.
Select the Property and Unit to be Booked.
Enter Tenant Details:
- Tenant Name
- Mobile Number
- Email Address
Specify Booking Duration (Holding Period).
Enter Booking Payment Amount (if applicable).
Click “Save”.

✅ Now, the unit is reserved, and the booking is recorded in FalconPro.

3. Recording Booking Payments and Issuing a Receipt

Once a unit is booked, tenants may be required to pay a booking deposit. FalconPro allows businesses to collect this payment and issue a booking receipt.

Steps to Record a Booking Payment:

Go to “Accounting” → “Receipts”.
Click “New Receipt”.
Select “Booking Payment” as the Transaction Type.
Enter the Amount Paid by the Tenant.
Choose Payment Method:
- ✅ Cash
- ✅ Cheque
- ✅ Bank Transfer
Generate and Print the Receipt for the Tenant.

✅ Now, the booking payment is recorded, and the receipt is issued.

4. Converting a Booking into a Lease Contract

After a tenant confirms their lease, the property booking must be converted into a lease contract.

Steps to Finalize the Lease Contract:

Go to “Leasing” → “Booking Management”.
Select the Booking Record.
Click “Convert to Lease Contract”.
Enter Additional Lease Details:
- Contract Start and End Dates
- Rent Amount and Payment Terms
- Security Deposit Details
Click “Save”.

✅ Now, the booking is converted into an active lease contract.

5. Canceling a Property Booking in FalconPro

If a tenant decides not to proceed with the lease, FalconPro allows users to cancel the booking and process any refund if applicable.

Steps to Cancel a Booking:

Go to “Leasing” → “Booking Management”.
Select the Booking to be Canceled.
Click “Cancel Booking”.
Choose Refund Option (if applicable).
Enter Cancellation Remarks.
Click “Confirm”.

✅ Now, the booking is canceled, and the unit becomes available for new reservations.

6. Best Practices for Property Booking in FalconPro

✅ Always check unit availability before confirming a booking.
✅ Ensure that booking payments are recorded correctly.
✅ Convert bookings into lease contracts promptly to avoid unit delays.
✅ Provide tenants with official booking receipts for transparency.
✅ Regularly update booking status to prevent conflicts.

Conclusion

FalconPro Real Estate Software provides a structured and efficient process for booking properties, managing booking payments, and converting reservations into lease contracts. By following these steps, businesses can:
✅ Ensure accurate unit reservations.
✅ Streamline booking payment processing.
✅ Easily transition from booking to final lease contracts.

FAQs

1. Can a booking be modified after confirmation?

Yes, users can edit booking details if the lease contract has not been created.

2. How long can a unit remain booked before contract signing?

The booking holding period depends on company policy, typically 7 to 14 days.

3. Can FalconPro send booking confirmation emails to tenants?

Yes, FalconPro can automatically send booking confirmation emails upon saving the booking.

4. What happens if a tenant cancels their booking?

The booking will be canceled, and the unit will become available for new tenants. Refunds (if applicable) will be processed separately.

5. Can a tenant make multiple bookings?

Yes, but each booking is linked to a specific unit, so tenants must complete one booking before proceeding with another.

Important Links

SEO Metadata

Focus Keyphrase: real estate management software
SEO Title: Booking a Property in FalconPro Real Estate Management Software
Slug: booking-property-falconpro-real-estate-management
Meta Description: Learn how to book a property, record booking payments, and convert reservations into lease contracts using FalconPro Real Estate Management Software.

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