Creating New Contracts, Booking, Receipt Vouchers, Inquiries, and Cheque Management in FalconPro Real Estate Software
Introduction
Efficient contract creation, booking management, and cheque handling are essential for any real estate business. FalconPro Real Estate Software streamlines these processes, providing a comprehensive platform for property managers, accountants, and real estate professionals in the UAE. This guide covers how to create new contracts, manage bookings, process receipt vouchers, handle inquiries, and oversee received cheques and reports within FalconPro Real Estate Software, ensuring clarity and accuracy for all users.
Setting Up New Contracts and Booking in FalconPro Real Estate Software
How to Create a New Contract and Add Booking Details
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Navigate to the property inventory and select the desired unit (e.g., apartment 102).
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Initiate a new booking or contract by choosing the client name and setting the contract variant.
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Enter the contract value and divide it into installments as required (e.g., two payments of 30,000 each).
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To include parking, select the parking option from the property setup. You can assign one or multiple parking spaces per contract.
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Specify whether the parking fee is to be paid as an advance or included in the installment. If set as an advance, the amount appears separately; if included in installments, it is added to the payment schedule.
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Save the contract details, ensuring all components (rent, parking, etc.) are accurately reflected.
Booking Workflow
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For new bookings, enter the client details and the advance payment (e.g., 5,000 AED).
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The system creates a customer account and records the payment method (cash, cheque, etc.).
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When converting a booking to a contract, the advance is automatically adjusted against the first installment, ensuring transparent financial tracking.
Processing Receipt Vouchers and Managing Payments
Issuing Receipt Vouchers
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After contract creation or booking, process receipt vouchers for each payment received.
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Select the relevant contract and payment installment, then record the payment type (cash, cheque, bank transfer).
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The system allows for flexible payment adjustments, ensuring the total contract amount remains accurate.
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For partial payments, the system separates the amounts and updates the client’s outstanding balance accordingly.
Best Practices for Receipt Management
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Always link receipt vouchers to the correct contract and installment to maintain accurate records.
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Use clear remarks for each transaction (e.g., “Paid against installment” or “Paid against booking advance”).
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The system supports both mandatory and optional invoice numbers, configurable in the contract fees item setup.
Inquiries and Cheque Management
Cheque Status Tracking
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Access Check Management to view all cheques associated with your company.
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Cheques are color-coded by status:
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White: New
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Green: Cleared
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Red: Cancelled
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Yellow: Submitted to Bank
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Brown: Bounced
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Search and filter cheques by number, amount, contract, property, or client for efficient tracking.
Cheque Actions
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Submit cheques to the bank directly from the system, specifying the bank account.
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Update cheque statuses as they progress through submission, clearance, or return.
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If a cheque is returned or needs replacement, the system allows you to:
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Mark it as returned (with reasons such as insufficient funds, closed account, etc.).
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Replace it with a new cheque or cash payment, ensuring all actions are logged with full audit trails.
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Partial and Full Cheque Replacement
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For partial payments, record the amount received and update the cheque’s outstanding balance.
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Once the full amount is collected, cancel the original cheque and document the replacement process.
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The system ensures that installment due dates remain unchanged for accurate contract linkage.
Reporting and Inquiries
Comprehensive Reporting Tools
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Generate reports for received cheques, including their status (new, submitted, cleared, bounced, cancelled).
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Filter reports by property, contract, client, or cheque type (installment, booking, parking, etc.).
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Access property inventory reports, showing occupancy, unit status, and detailed contract information.
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Use leasing statements to provide landlords or management with summaries of rent collection, outstanding balances, and cheque statuses.
Alerts and Due Installments
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The system provides alerts for due installments, uncollected fees, and pending cheques.
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Quickly identify unpaid amounts, whether due to missing cheques or overdue payments, ensuring proactive follow-up.
Conclusion
FalconPro Real Estate Software offers a robust and user-friendly solution for managing contracts, bookings, receipt vouchers, inquiries, and cheque processing. By following the steps outlined above, real estate professionals can ensure accurate financial tracking, streamlined operations, and comprehensive reporting. Leverage FalconPro’s advanced features to enhance your property management workflow and maintain compliance with UAE real estate regulations.
Frequently Asked Questions (FAQ)
Q1: How do I include parking in a new contract in FalconPro Real Estate Software?
A: Add parking from the property setup during contract creation. You can set the parking fee as an advance or include it in the installment schedule. The system will reflect your choice in the payment plan automatically45.
Q2: Can I adjust a booking advance against the first installment?
A: Yes, when converting a booking to a contract, the system allows you to adjust the advance payment against the first installment, ensuring accurate balance tracking45.
Q3: How does FalconPro handle partial cheque payments?
A: The system lets you record partial payments against a cheque, updating the outstanding balance. Once the full amount is collected, you can cancel the original cheque45.
Q4: What are the cheque status colors in FalconPro?
A: White indicates a new cheque, green is cleared, red is cancelled, yellow is submitted to the bank, and brown is bounced45.
Q5: Can I generate reports for specific cheque types or properties?
A: Yes, FalconPro allows you to filter cheque and property reports by type, status, property, contract, or client for detailed analysis45.
Q6: How does the system ensure installment payments are correctly linked to contracts?
A: Always use the original installment due date and contract number when recording payments. This maintains accurate linkage and reporting45.
Q7: What should I do if a cheque is returned or needs replacement?
A: Mark the cheque as returned with the appropriate reason, then process a replacement payment (cash or new cheque) and update the system accordingly45.
Q8: How can I monitor due installments and unpaid amounts?
A: Use the alerts and due installments features in FalconPro to identify unpaid or overdue amounts for proactive management45.