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

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:

  1. Navigate to Administration → Master Accounts.
  2. 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.
  3. 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.
  4. 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:

  1. Open a contract for Building F01.
  2. Generate a Receipt for a cheque payment.
  3. Check if the system assigns the Received Cheques – F01 account automatically.
  4. 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:

  1. Navigate to the Master Accounts Section.
  2. 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.
  3. 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:

  1. Navigate to Master Accounts.
  2. Double-click on the “Cash” Account.
  3. 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.
  4. 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:

  1. Navigate to Master Accounts.
  2. Double-click on “Received Cheques.”
  3. Assign the Account to a Specific User:
    • Select the User Name (e.g., Ali).
    • Link it to a dedicated cheque collection account.
  4. 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:

  1. Go to Master Accounts.
  2. Double-click on “Cash Collection.”
  3. Assign a User (e.g., Ali) to a Specific Cash Collection Account.
  4. 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.

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