ApnaComplex releases support for Multiple Financial Years in Society Accounting

June 4, 2011 - PRLog -- ApnaComplex (http://www.apnacomplex.com) - the leading web-based Society Accounting Software for Housing Societies in India, announces support for Multiple Financial Years enabling Co-operative Housing Societies to maintain the financials over multiple years.

ApnaComplex now introduces the concept of 'accounting period' for accounts.  In simple terms, an accounting period is same as the financial year. A society  is always associated with a financial year (the current financial year is default value upon login). All financial transactions (such as raising invoices, recording expenses, issuing receipts, passing journal entries etc.) would belong to a particular financial year.

For example, treasurers will not be able to add an expense dated 10th Jan 2011 when the society is  in the financial year of 2011-12 (Apr 1st 2011 to March 31st 2012). Treasurers will have to go to the new menu Accounting Periods item under  Accounting, then switch to the year of Apr 1st 2010 - March 31st 2011 and then add the expense. Same is the case with any other accounting related transactions such as reverting a charge, adding a bill, making a payment etc.

The Chart of Accounts ( expense heads, income heads, asset heads, liability heads) are also associated with a financial year. This means you can have different  bank accounts/charge/expense heads for different years based on your preference and also different opening balances for accounts each financial year.

The best part is that the members of the society in the ApnaComplex (http://www.apnacomplex.com) will continue to see the list of all their transactions across years in the same statement.

Visit http://www.apnacomplex.com/features to see detailed feature list of ApnaComplex and how your society can benefit.

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ApnaComplex is a web-based society accounting, apartment management software solution for Housing Societies and Apartment Complexes. ApnaComplex provides a fully integrated and powerful solution covering accounting, management and communication tools to meet the needs of gated communities.

ApnaComplex offers the most comprehensive and best in class software for Housing Societies and Apartment Complexes in India. ApnaComplex supports unparalleled Accounting capabilities such as Income/Expense tracking, Maintenance charge tracking, maintaining Chart of Accounts, Making Transfers and Adjustments, Generating financial statements such as Balance Sheet, Trial Balance, Profit-Loss Statements. Auditors can directly log into ApnaComplex and audit the accounts of Societies with out the need for any other software or a need to maintain data in multiple places.