Managing Fees Accounts and Management Vouchers in FalconPro Real Estate Software

Managing Fees Accounts and Management Vouchers in FalconPro Real Estate Software

Introduction

Proper fees management is critical in real estate accounting. FalconPro Real Estate Software allows users to:
✅ Set up fees accounts for service charges, maintenance, and other fees.
✅ Issue management vouchers for internal accounting adjustments.
✅ Track revenue from fees collections efficiently.

This guide explains how to configure fees accounts and create management vouchers in FalconPro to ensure accurate financial reporting.

1. Understanding Fees Accounts in FalconPro

Fees accounts track non-rental income such as:

  • Annual maintenance charges
  • Parking fees
  • Legal fees and administrative charges
  • Late payment penalties

Each fee must be linked to an accounting category to ensure correct financial reporting.

2. Setting Up Fees Accounts in FalconPro

To create a new fees account:

Steps to Add a Fees Account:

  1. Go to “Administration” → “Chart of Accounts”.
  2. Click “New Account”.
  3. Enter the Account Name (e.g., “Maintenance Fees Revenue”).
  4. Select the Account Type (Revenue, Expense, Liability, or Asset).
  5. Choose the Linked Fees Category (e.g., Service Charges, Penalties).
  6. Save the Fees Account.

✅ Now, fees transactions will be recorded under the correct financial category.

3. Assigning Fees Accounts to Tenant Contracts

To charge fees to tenants, the fees account must be assigned to lease contracts.

Steps to Add Fees to a Contract:

  1. Go to “Leasing” → “Contracts”.
  2. Select the Tenant’s Lease Contract.
  3. Click “Edit” → “Fees & Charges”.
  4. Choose the Fees Account (e.g., “Parking Fees”).
  5. Enter the Fees Amount and Payment Frequency (One-time or Recurring).
  6. Click “Save”.

✅ Now, the fee will be automatically added to invoices and financial reports.

4. Creating a Management Voucher in FalconPro

Management vouchers are used for internal financial adjustments that do not involve external parties (e.g., moving fees from one account to another).

Steps to Create a Management Voucher:

  1. Go to “Accounting” → “Journal Vouchers”.
  2. Click “New Voucher”.
  3. Select “Management Voucher” as the Type.
  4. Enter the Debit and Credit Accounts for Adjustment.
  5. Specify the Voucher Amount and Transaction Date.
  6. Provide a Description (e.g., “Reallocation of maintenance fees”).
  7. Click “Save”.

✅ Now, the management voucher is recorded in FalconPro.

5. Tracking Fees and Vouchers in FalconPro

FalconPro provides detailed reports to track:
✅ Collected fees from tenants.
✅ Outstanding balances on service charges.
✅ Financial impact of management vouchers.

Steps to View Fees and Voucher Reports:

  1. Go to “Reports” → “Fees Reports”.
  2. Select the Date Range and Fees Category.
  3. Click “Retrieve Report”.
  4. Export the Report for Financial Review.

✅ Now, you can track fees collections and adjustments efficiently.

6. Best Practices for Managing Fees and Vouchers in FalconPro

✅ Assign each fee to the correct account category for accuracy.
✅ Use management vouchers for internal adjustments, not external transactions.
✅ Regularly review fees reports to track outstanding payments.
✅ Ensure recurring fees are added correctly to lease contracts.
✅ Limit management voucher creation to authorized users only.

7. Conclusion

FalconPro Real Estate Software simplifies fees account setup and management vouchers, ensuring:
✅ Accurate tracking of service charges, penalties, and other fees.
✅ Efficient financial adjustments with management vouchers.
✅ Seamless integration of fees into lease contracts and financial reports.

By following these steps, businesses can enhance their accounting accuracy and optimize financial tracking.

8. FAQs

  1. What is the difference between a fees account and a management voucher?
    A fees account records service charges, while a management voucher is used for internal adjustments between accounts.
  2. Can I apply multiple fees to the same contract?
    Yes, FalconPro allows multiple fees to be assigned to a single lease contract.
  3. How do I track unpaid service charges?
    Use “Fees Reports” in FalconPro to monitor outstanding balances and follow up with tenants.
  4. Can I adjust a fees account after transactions have been recorded?
    Yes, adjustments can be made using management vouchers to reallocate fees.
  5. Who can create management vouchers in FalconPro?
    Only authorized users with accounting permissions can create or edit management vouchers.

9. Important Links