FalconPro Real Estate Software: New Features and Updates in Version 18.05
Introduction
FalconPro Real Estate Software has introduced several new features and improvements in Version 18.05 to enhance property management, financial tracking, and user experience. This article provides an in-depth look at the latest updates, including service contracts, multi-unit payment vouchers, cheque management, and improved reporting features.
New Features in FalconPro Real Estate Software Version 18.05
1. Service Contracts for Property Maintenance
FalconPro Real Estate Software now supports service contracts for various property maintenance needs, including:
- Elevators and fire alarm systems
- Building maintenance
- Investment contracts
- Advertising and other expense distributions
Users can create and manage service contracts efficiently, ensuring seamless expense tracking and maintenance scheduling.
2. Multi-Unit Payment Vouchers and Payable Invoices
A new feature allows users to:
- Distribute expenses across multiple units or buildings
- Apply a single invoice to several properties
- Automatically allocate costs across multiple units based on pre-set criteria
This simplifies financial management for property managers dealing with multiple tenants and units.
3. Enhanced Cheque Management
Improvements in cheque handling include:
- Editing received cheques to include police case details
- Double-clicking on police case numbers in reports to access detailed information
- Easier tracking of returned cheques and related legal cases
- Automated receipt number generation for manual entries
These updates streamline the cheque management process and provide more transparency in financial transactions.
4. Fixed Asset Depreciation by Custom Dates
- Previously, depreciation was calculated only for the current date.
- Now, users can set custom dates for depreciation calculations.
- A preview feature allows users to check depreciation vouchers before finalizing transactions.
This feature ensures greater flexibility in financial planning and asset management.
5. VAT Calculation Enhancements
FalconPro Real Estate Software now includes:
- An “Auto” button in payable invoices for VAT calculations
- Automated VAT distribution across contracts and expenses
- Direct integration with tax reports for compliance and audit purposes
These improvements help users maintain accurate tax records and ensure compliance with financial regulations.
6. Utility for Account and Transaction Adjustments
A new utility tool allows users to:
- Move transactions or journal vouchers (GVs) from one account to another
- Ensure journal entries align with the correct accounting period
- Prevent errors by validating GV dates before processing
This ensures financial data consistency and prevents misallocated transactions.
7. Preventing Unauthorized Master Account Changes
To enhance security:
- Changes to master accounts now require a one-time password (OTP).
- Admins receive alerts whenever modifications are attempted.
- Users must provide a valid reason before changing account settings.
This added layer of protection prevents accidental or unauthorized changes that could impact financial records.
8. Merging Accounts for Simplified Financial Reporting
Many clients prefer using a single account for all transactions rather than maintaining separate accounts for each building. A new utility allows:
- Merging multiple accounts into a single master account
- Automated account consolidation without data loss
- Flexible account structuring based on user preference
This helps reduce complexity in financial reporting and ensures accurate record-keeping.
9. Automatic Cost Center Assignment
FalconPro Real Estate Software now:
- Assigns cost centers to both debit and credit transactions
- Includes cost centers in cash flow and transaction reports
- Provides scripts to update historical transactions with correct cost centers
This enhancement improves financial tracking and reporting accuracy.
10. New Reporting Features
The latest update introduces:
- Sewerage meter tracking alongside electricity and water meters
- Enhanced property modification logs to track changes
- Ability to generate financial reports with detailed audit trails
These features improve transparency and provide better insights into financial performance.
Conclusion
FalconPro Real Estate Software continues to innovate with each update, adding new features to simplify property management and financial reporting. The enhancements in Version 18.05, including multi-unit payment processing, advanced cheque management, VAT automation, and improved reporting tools, ensure that property managers and real estate professionals can work more efficiently.
FAQ Section
1. What are the new features in FalconPro Real Estate Software Version 18.05?
The new features include multi-unit service contracts, cheque management enhancements, VAT automation, fixed asset depreciation by custom dates, and improved financial reporting.
2. How does the new cheque management system improve financial tracking?
The updated system allows users to edit received cheques, link police cases, automate receipt numbers, and track returned cheques directly from reports.
3. Can I merge multiple accounts into one master account?
Yes, FalconPro Real Estate Software now provides an account merging utility that consolidates financial records into a single account.
4. How does the new VAT automation feature work?
The software now automatically calculates and distributes VAT across transactions, integrates VAT reporting, and ensures compliance with tax regulations.
5. What security features have been added to prevent unauthorized account changes?
Changes to master accounts now require an OTP verification and admin approval to ensure that only authorized personnel can modify critical financial settings.
