Transferring Fees from One Account to Another in FalconPro Real Estate Software

Transferring Fees from One Account to Another in FalconPro Real Estate Software

Introduction

Real estate businesses often need to transfer funds between different accounts for better financial organization. FalconPro Real Estate Software provides three different methods to move fees from one account to another:

  • Direct Account Adjustment – For quick corrections.
  • Management Vouchers – For structured financial tracking.
  • Reassigning Fees in Lease Contracts – To shift financial responsibility.

This guide explains each method of transferring fees between accounts in FalconPro, ensuring accurate financial records and compliance.

1. Understanding Fees Transfers in FalconPro

Transferring fees is necessary when:

  • A payment was recorded under the wrong account.
  • A tenant moves to a different unit, requiring fee reallocation.
  • Service charges need to be distributed among multiple properties.

FalconPro ensures these transfers do not disrupt financial accuracy and are recorded properly in reports.

2. Method 1: Direct Account Adjustment

This method allows users to manually adjust balances for small corrections.

Steps to Adjust an Account Balance:

  1. Go to “Accounting” → “Chart of Accounts”.
  2. Select the Account Holding the Incorrect Balance.
  3. Click “Adjust Balance”.
  4. Enter the Amount to Transfer and the Target Account.
  5. Provide a Reason for the Adjustment.
  6. Click “Confirm”.

✅ Now, the fee is moved to the correct account instantly.

3. Method 2: Using Management Vouchers for Fee Transfers

Management Vouchers ensure structured financial adjustments with proper documentation.

Steps to Create a Management Voucher for a Fee Transfer:

  1. Go to “Accounting” → “Journal Vouchers”.
  2. Click “New Voucher”.
  3. Select “Management Voucher” as the Type.
  4. Choose the Source Account (where the fee is currently recorded).
  5. Select the Destination Account (where the fee should be moved).
  6. Enter the Transfer Amount.
  7. Add a Description (e.g., “Reallocation of maintenance fees”).
  8. Click “Save”.

✅ Now, the transaction is properly documented and can be tracked in financial reports.

4. Method 3: Reassigning Fees in Lease Contracts

If a fee needs to be shifted from one tenant to another, FalconPro allows direct reassignment in lease contracts.

Steps to Reassign a Fee in a Lease Contract:

  1. Go to “Leasing” → “Contracts”.
  2. Select the Lease with the Fee to be Transferred.
  3. Click “Edit” → “Fees & Charges”.
  4. Remove the Fee from the Current Tenant.
  5. Select the New Tenant or Contract and Assign the Fee.
  6. Click “Save”.

✅ Now, the fee responsibility is moved without affecting financial reports.

5. Tracking Fee Transfers in FalconPro Reports

To ensure transparency, all account adjustments and fee transfers are recorded in reports.

Steps to View Fee Transfer Reports:

  1. Go to “Reports” → “Fees Transfer Reports”.
  2. Filter by Transfer Type (Manual, Voucher, Contract Reassignment).
  3. Click “Retrieve Report”.
  4. Export the Report for Financial Review.

✅ Now, all fee transfers are documented and traceable.

6. Best Practices for Managing Fee Transfers in FalconPro

  • ✅ Use Direct Adjustments only for minor corrections.
  • ✅ For large transfers, always use Management Vouchers.
  • ✅ Ensure fees are properly categorized to avoid misallocation.
  • ✅ Review financial reports monthly to track adjustments.
  • ✅ Restrict fee transfer permissions to authorized personnel.

7. Conclusion

FalconPro Real Estate Software provides a structured and automated approach to transferring fees between accounts, ensuring:

  • ✅ Accurate financial adjustments.
  • ✅ Proper documentation of transactions.
  • ✅ Seamless fee reassignment in lease contracts.

By following these steps, real estate businesses can optimize financial accuracy and improve accounting efficiency.

8. FAQs

  1. Can FalconPro transfer fees between different financial accounts?
    Yes, FalconPro allows fees to be moved between revenue, expense, and liability accounts.
  2. How do I track all fee transfers made in FalconPro?
    Use the Fees Transfer Reports to monitor all adjustments and reassignments.
  3. Can tenants see fee transfers on their invoices?
    No, internal fee transfers do not appear on tenant invoices unless reassigned to a different tenant.
  4. What happens if a fee is transferred incorrectly?
    Users can reverse the transfer by creating a new adjustment transaction.
  5. Can FalconPro automate fee transfers between properties?
    Yes, users can set up recurring management vouchers for automated allocations.

9. Important Links