Managing Fees, VAT Inclusive Client Invoices, and Multi-Fees in One Cheque in FalconPro Real Estate Software

Managing Fees, VAT Inclusive Client Invoices, and Multi-Fees in One Cheque in FalconPro Real Estate Software

Introduction

FalconPro Real Estate Software simplifies handling fees, VAT-inclusive client invoices, and multiple fee payments using a single cheque. This feature allows businesses to:
✅ Set up fees with or without VAT inclusion.
✅ Generate client invoices with VAT automatically calculated.
✅ Accept multiple fees using one cheque payment.

This guide explains how to set up and process these transactions efficiently.

1. Setting Up Fees and Configuring VAT Inclusion

Before generating invoices or processing payments, fees must be properly configured.

Steps to Set Up Fees with VAT in FalconPro:

  1. Go to “Administration” → “Master Files”.
  2. Select “Accounting” → “Fees Setup”.
  3. Click “New Fee Item”.
  4. Enter Fee Name (e.g., Service Charge).
  5. Set the VAT Type:
    • VAT Exclusive → VAT is added separately.
    • VAT Inclusive → VAT is included in the fee amount.
  6. Choose the Fee Category (e.g., Maintenance, Service).
  7. Save the Fee Item.

✅ Now, this fee will be available when creating invoices or processing receipts.

2. Generating VAT-Inclusive Client Invoices

Client invoices can be generated with automatic VAT calculation.

Steps to Create a Client Invoice with VAT:

  1. Go to “Accounting” → “Client Invoices”.
  2. Click “New Invoice”.
  3. Select the Customer.
  4. Choose the Fee Type (e.g., Service Charge).
  5. Enter the Amount (e.g., AED 10,000).
  6. FalconPro Automatically Calculates VAT (if applicable).
  7. Click “Save” to Generate the Invoice.

✅ Now, the invoice includes VAT details and is ready for payment processing.

3. Processing Multi-Fee Payments Using One Cheque

Clients often pay multiple fees using a single cheque. FalconPro allows this by distributing the payment across different fee categories.

Steps to Accept Multiple Fees with One Cheque:

  1. Go to “Accounting” → “Receipts”.
  2. Click “New Receipt”.
  3. Select Payment Method: Cheque.
  4. Enter Cheque Details (Cheque Number, Bank Name).
  5. Choose Multiple Fee Items:
    • Example:
      • Service Charge (AED 5,000)
      • Maintenance Fee (AED 3,000)
      • Parking Fee (AED 2,000)
  6. Enter Total Cheque Amount (AED 10,000).
  7. FalconPro Automatically Distributes the Amount to Each Fee.
  8. Click “Save” to Complete the Transaction.

✅ Now, the single cheque is correctly applied to multiple fee categories.

4. Reviewing VAT and Fee Reports

Once invoices and payments are recorded, FalconPro provides detailed reports for VAT and fee tracking.

Steps to Generate Fee and VAT Reports:

  1. Go to “Reports” → “VAT Reports” or “Fee Collection Reports”.
  2. Select the Date Range.
  3. Choose Filters (e.g., Fee Type, Customer).
  4. Click “Retrieve” to View Data.
  5. Export to Excel or PDF for Record-Keeping.

✅ Now, businesses can track VAT liabilities and total fee collections accurately.

5. Best Practices for Managing Fees and VAT in FalconPro

✅ Use VAT-inclusive pricing only when required by tax regulations.
✅ Ensure all fee items are correctly categorized before invoice generation.
✅ Accepting multiple fees with one cheque simplifies transaction reconciliation.
✅ Regularly review VAT reports to ensure compliance.
✅ Export fee reports to track revenue sources accurately.

Conclusion

FalconPro Real Estate Software provides a powerful and flexible system for managing fees, VAT-inclusive invoices, and multiple fee payments. By following these steps, businesses can:
✅ Ensure accurate VAT calculations in invoices.
✅ Easily process cheque payments for multiple fees.
✅ Generate detailed financial reports for compliance and tracking.

FAQs

1. What is the difference between VAT-inclusive and VAT-exclusive fees?
VAT-inclusive fees already include VAT, while VAT-exclusive fees add VAT separately to the total amount.

2. Can I modify a client invoice after generating it?
No, but you can issue a credit note and generate a new invoice if needed.

3. What happens if a client overpays using a cheque?
FalconPro allows adjusting the overpaid amount towards future invoices or issuing a refund.

4. How do I check if a VAT-inclusive invoice is correctly calculated?
Go to VAT Reports and verify the VAT amount breakdown in the invoice.

5. Can a cheque payment be split across multiple client invoices?
Yes, FalconPro enables applying a single cheque across multiple invoices or fees.

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