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ApnaComplex launches India's first Collection Gateway for Housing Societies & Apartment Associations
ApnaComplex Collection Gateway enables Housing Societies to completely automate the Maintenance Due collections from members via NEFT, issue receipts and make accounting entries into the books - with zero intervention from the treasurer or society.
With help of this innovative solution, every flat of Housing Societies who have subscribed to ApnaComplex Collection Gateway will be given an unique Account Number. Members could transfer their dues to the society to this unique account number from their bank via NEFT (National Electronic Fund Transfer).
All such transfers would be auto-detected by ApnaComplex, entries are automatically made an entry into the accounting books of the society. In addition, the system shall also issue an e-receipt to the member on behalf of the Society.
Commenting on this occasion, Raja Sekhar Kommu, co-founder of ApnaComplex mentioned
"Most societies collect more than 50% of their maintenance dues by NEFT.
However, NEFT Reconciliation in any Society is a huge exercise. Treasurers and Society Offices usually struggle to identify the transfers made into thier society bank account as there is no way to identify which flat has transferred the amount from the bank statement. In addition most amounts would be same owing to the fact that the maintenance charges would be similar for all flats in a society. This makes it almost impossible to correctly identify the flat who paid the money. Due to this wrong receipts are issued, late payment penalties are charged on wrong flats leading to disputes with members, lots of suspense entries in the bank - all these making the books inaccurate. This is in addition to time and efforts wasted by the society office.
With Collection Gateway, all these problems are solved once for all. We have tied up banks and integrated with thier systems to offer a seamless solution to Housing Societies in India. We are proud that we the first and only one platform in the country that offer an integrated Collection Gateway exclusively for Housing Societies."
ApnaComplex also has been offering Payment Gateway where members can pay dues online via Credit Card / Debit Card. But usually, transaction rates are much lesser in Collection Gateways than Payment Gateway and hence would be more preferred by members.
ApnaComplex can be used any Housing Society in India to improve the management and accounting practices of the Society. There are multiple packages available, including a free one, that you can quickly sign up for. Check out http://www.apnacomplex.com/
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