Committee and office
Billing, double-entry accounts, notices, helpdesk, amenities, parking, meetings and roles for the committee, in a web console and in the app.
Society accounting
Society accounting software: double-entry books your auditor can read
Bills and receipts post themselves, expenses carry the vendor’s bill, and the statements come out ready for the AGM and the auditor, with a file Tally can import.
Many societies keep their accounts in a notebook or a spreadsheet, and pay an accountant at the end of the year to rebuild them. Ekvasa keeps proper double-entry books all year, without asking the treasurer to know debits and credits. The office records what happened, such as paying the plumber from the bank, and Ekvasa makes the entries. Billing and accounts are one system, so they always agree. The details are under Committee and office.
Double-entry books that keep themselves
Every society starts with a standard chart of accounts: bank and cash, members’ dues, deposits and FDs, the sinking and repair funds, maintenance and other income, and the usual expense heads such as security, housekeeping, electricity, water, the lift and salaries. Accounts can be added, renamed and archived. Each bank and cash account starts with its opening balance.
Maintenance bills, receipts, credit notes and debit notes post themselves. A ledger shows a running balance for any period, and the trial balance can be taken on any date.
Expenses and vendors, with the bill attached
Vendors are kept with their phone number, GSTIN, PAN, usual expense head and bank details. An expense is recorded with its date, head, amount, vendor, the vendor’s bill number and a photo or PDF of the bill, either paid at once from a bank or cash account or left owed to the vendor and paid later. The office can record expenses in the app as well as in the web console.
Approvals, transfers and journals
The society chooses its approval rule: none, every expense, or expenses above an amount it sets. The approvers are told, and the person who recorded an expense can never approve it. A wrong entry is voided with a reason, never deleted.
Cash deposited in the bank, an FD made, interest received or hall rent that was not billed are entered as transfers or other income, and anything else as a balanced journal voucher.
Statements for the AGM and the auditor
For any period, Ekvasa gives the income and expenditure account, the receipts and payments account and the balance sheet. The balance sheet shows what homes owe as dues receivable and what they paid ahead as advances from members. The statements go to Excel with a day book of every voucher, or print on A4 with a line for the auditor.
A file Tally can import
If your auditor works in Tally, Ekvasa makes an XML file that Tally imports through Gateway of Tally, Import, Masters and Vouchers. Each account lands under Tally’s usual group with its balance at the start of the period, followed by every voucher of the period as a receipt, payment, contra or journal.
Open books for residents, if the society wants
When the committee turns it on, residents see the financial year’s income and expenses by head, month by month, with the surplus or deficit. They never see a vendor, another home or a single bill. Old books can be brought in from one Excel workbook, with a preview before anything is saved.
Common questions
Does the treasurer need to know accounting?
No. The office records what happened, an expense paid or cash deposited, and Ekvasa writes the double entries. An accountant or auditor can still read every ledger and voucher.
Can our auditor use Tally?
Yes. Ekvasa exports a file Tally imports, with the accounts under Tally’s usual groups and every voucher of the period.
Do billing and accounts have to be kept separately?
No. Every maintenance bill, receipt and note posts itself to the books, so the dues in billing and in the accounts are always the same.
Bring Ekvasa to your society.
Tell us about your society. We call you, show Ekvasa to your committee and set it up with your own data.