Cheque Submission and Clearing in FalconPro Real Estate Software: Complete Guide
Introduction
Managing cheque workflows—submitting to the bank, clearing, handling bounced cheques, and correcting mistakes—is critical for real estate accounting. FalconPro Real Estate Software offers robust features to batch process cheque submission and clearance, saving you significant time and reducing errors.
Cheque Submission Workflow
Submitting Cheques to the Bank
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View All Cheques:
Go to the Cheque Management > Receive Cheque screen to see all new cheques, including their status, contract dates, and related buildings. -
Selecting Cheques:
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Choose to submit all or select cheques by building, bank, or contract.
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You can filter cheques by date, building, or specific contracts for targeted submission.
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For organizations dealing with multiple banks, select based on the linked bank account of each cheque or building.
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Batch Submission:
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Select multiple cheques (e.g., all cheques for a given building or period).
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Click “Submit to Bank”.
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Specify the submission date. All selected cheques are updated to “Submitted to Bank” status.
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For batch processing, selecting all cheques allows rapid submission, even if contracts start on different dates or cheques span multiple years.
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Verifying and Reviewing Submissions
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After submission, cheques change in status and can be reviewed or filtered by “Submitted to Bank.”
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Double-clicking a cheque provides detailed information: linked building, contract, unit, cheque number, payer, and history.
Cheque Clearing Workflow
Clearing Cheques
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Standard Clearing:
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Go to the submitted cheques list.
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Select cheques for clearance. Typically, this is done after receiving bank statements or confirmation of deposit.
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Specify the cleared date. By default, the system uses the cheque’s date, but you can override it if needed.
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Batch Clearing:
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For large volumes, you can clear all cheques in a batch, using the “use cheque date as transaction date” option.
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Select cheques by building, bank, or custom date range for efficient processing.
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Cheques are marked as “Cleared” in the system, and corresponding accounting entries are made automatically.
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Managing Exceptions:
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If some cheques are not cleared (e.g., bounced or held), you can exclude them from the batch and keep them in “Submitted” status for further review.
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Search, Filter, and Audit Features
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Search and filter by:
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Cheque number
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Amount
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Date range (cheque date or status date)
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Building or unit
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Contract or client
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Drill down by double-clicking a cheque to see which installment or contract it is linked to.
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Detailed audit logs show who submitted or cleared each cheque, when, and the transaction history for compliance.
Best Practices
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Batch Submission and Clearing:
Use batch processing to save time, especially for high-volume properties or multi-unit portfolios. -
Accurate Date Entry:
Decide whether to use the cheque date or another transaction date, depending on your accounting policy. -
Review Cheque Statuses Regularly:
Monitor submitted, cleared, bounced, and held cheques to ensure all payments are processed and exceptions are addressed. -
Audit Trail:
Use the system’s detailed logs for internal audits, compliance, and troubleshooting.
Frequently Asked Questions (FAQ)
Q1: Can I submit all cheques from different contracts and buildings at once?
Yes, you can batch select cheques by building, bank, or contract and submit all in one operation.
Q2: How do I clear many cheques at once?
Use batch clearing with the option to use the cheque date as the transaction date. This is efficient for processing large numbers of cheques.
Q3: How does the system handle cheques that bounce or are not cleared?
These can be kept as “Submitted” or marked with a different status. You can process them separately as needed.
Q4: Can I trace which cheque belongs to which contract or unit?
Yes, double-clicking on any cheque provides full details, including contract, unit, and payment history.
Q5: Is there an audit trail for cheque actions?
All actions (submission, clearance, rejections) are logged with user and timestamp for accountability.
