Fees Collection in FalconPro Real Estate Software: Comprehensive Setup and Billing Guide
Introduction
Efficiently managing utility and service fee collections is essential for real estate professionals and property managers. FalconPro Real Estate Software offers a robust, flexible system for collecting fees such as electricity, water, cooling, sewerage, and maintenance-whether based on fixed amounts, meter readings, or area size. This guide explains the full workflow for setting up, calculating, billing, and posting collections in FalconPro Real Estate Software, ensuring accuracy and compliance for real estate software solutions in the UAE.
Setting Up Meter Types and Linking to Properties
Defining Meter Types
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Begin by navigating to the Administration Master Files and locating the “Meter Types” section.
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Here, define all meter types relevant to your properties-electricity, water, cooling, or any other utility.
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Each meter type is linked to a specific fees item (e.g., water meter to water bills), allowing precise tracking and billing.
Adding Meters to Properties and Units
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In Property Setup, select the building and add meters to each unit.
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Assign a unique meter ID or number for every unit-ensuring each unit’s consumption can be tracked individually.
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This setup forms the foundation for accurate, unit-wise collections based on actual usage or fixed charges.
Configuring Payment Plans for Fee Collections
Flexible Installment Structures
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Under Administration, access the “Payment Plans” module.
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Define how fees will be collected: monthly, quarterly, bi-annually, or annually.
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For example, sewerage fees might be split into 12 monthly installments, while electricity could be billed monthly.
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Create custom payment plans (e.g., two equal installments) to accommodate any billing cycle.
Creating and Managing Fees Collections
Initiating a New Fees Collection
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Go to Accounts > Fees Collection to view or create collections.
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Select the fees item to collect (e.g., electricity, water, maintenance).
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Choose the billing method:
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Fixed Amount: Enter a set charge per unit.
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Meter Reading: Import meter readings for each unit.
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Area Size or Service Charge: Calculate fees based on unit area or a defined service charge.
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Importing Meter Readings
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Prepare a CSV file with meter IDs and current readings.
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Import the file into FalconPro; the system calculates consumption by comparing current and previous readings.
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The software automatically computes the total amount due for each unit based on usage and the defined rate.
Generating and Printing Bills
Bill Generation Workflow
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After verifying all data, generate bills for each unit.
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Each bill receives a unique bill ID and can be printed individually or in bulk.
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FalconPro enables printing detailed bills that include:
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Unit information
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Consumption details (for metered utilities)
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Amount due
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VAT and other applicable charges
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Automated SMS Notifications
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The system can send SMS alerts to tenants or owners, notifying them of new bills and due dates to ensure timely payments.
Handling Different Billing Scenarios
Fixed Amount Billing
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For charges like sewerage or annual maintenance, enter the fixed amount and assign it to all relevant units.
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Generate and print bills as with any other fees item.
Area Size and Service Charge Billing
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For maintenance or service charges based on area size, FalconPro multiplies the fixed rate by each unit’s area.
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If service charges differ by unit, the system accommodates these variations for precise billing.
Importing Due Amounts
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For bulk billing (e.g., water with fixed amounts), import a file with unit numbers and due amounts.
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FalconPro matches each unit and generates the corresponding bills.
Posting Revenue and Linking Accounts
Revenue Posting Process
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After bill generation, post the revenue using the “Fees Revenue Posting” feature.
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The system debits the receivable account (e.g., electricity bill receivables) and credits the appropriate profit or revenue account (e.g., utility service electricity).
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Accounts are mapped per building/unit, ensuring financial reports reflect accurate, property-specific data.
Account Linking
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Link each fees item to the correct profit and receivable accounts in the master files.
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For each building, ensure accounts are set up for every type of fee collected.
Best Practices for Fees Collection in FalconPro
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Define all meter types and link them accurately to units.
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Set up clear payment plans that match your billing cycles.
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Import and verify meter readings carefully to avoid billing errors.
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Use automated SMS and detailed bills to improve collection rates and transparency.
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Regularly review account mappings to ensure revenue is posted correctly.
Conclusion
FalconPro Real Estate Software simplifies and automates the entire fees collection process, from meter setup and payment plan configuration to bill generation, notification, and revenue posting. By leveraging these features, property managers and real estate professionals can streamline operations, reduce errors, and provide tenants and owners with clear, timely billing for all utilities and services.
Frequently Asked Questions (FAQ)
Q1: How do I set up different meter types in FalconPro Real Estate Software?
A: Go to Administration Master Files, define each meter type (e.g., electricity, water), and link it to the relevant fees item.
Q2: Can I bill tenants based on actual meter readings?
A: Yes, import meter readings via CSV, and FalconPro will calculate each unit’s consumption and generate bills accordingly.
Q3: How are fixed charges like maintenance or sewerage billed?
A: Enter the fixed amount, assign it to all units, and generate bills in bulk for efficient processing.
Q4: How does revenue posting work for fees collections?
A: After generating bills, use the Fees Revenue Posting feature to debit receivables and credit the appropriate revenue account, mapped per building/unit.
Q5: Can the system send automated bill notifications?
A: Yes, FalconPro can send SMS alerts to tenants or owners with bill details and due dates to encourage prompt payment.