How to Set Up and Use General Fees Items in FalconPro Real Estate Software

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.

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.

Setting Up a General Fees Item

To create a General Fees Item, follow these steps:

Steps to Create a General Fees Item in FalconPro:

  1. Go to “Administration” → “Master Files”.
  2. Select “Accounting” → “Fees Items”.
  3. Click “Create New Fees Item”.
  4. Enter a Name (e.g., “General Collection”).
  5. Set the Item Type as “Others”.
  6. 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).
  7. Enable “Change Account and Receipt” Option:
    • This allows users to select any credit account when recording a receipt.
  8. Click “Save”.
    ✅ Now, the General Fees Item is created and ready to use in receipts.

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:

  1. Go to “Accounting” → “Receipts”.
  2. Click “New Receipt”.
  3. Choose the General Fees Item (e.g., “General Collection”).
  4. Select a Credit Account:
    • Example: “Old Car Sale” if selling a company car.
    • Example: “Commission Revenue” if collecting a business commission.
  5. Enter the Collection Amount (e.g., 20,000 AED).
  6. Select the Payment Method:
    • ✅ Cash
    • ✅ Cheque
    • ✅ Bank Transfer
  7. Enter Additional Details:
    • Customer Name (if applicable).
    • Remarks (e.g., “Company vehicle sale”, “Landlord advance payment”).
  8. Click “Save” to Record the Transaction.
    ✅ Now, the money is collected under the selected General Fees Item.

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.

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:

  1. Go to “Administration” → “Master Files”.
  2. Select “Accounting” → “Fees Items”.
  3. Edit the Existing General Fees Item (e.g., “Landlord Advance Payment”).
  4. Assign a Default Credit Account (e.g., “Landlord Liabilities”).
  5. 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.

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