Collection Gateway

Common Challenges with NEFT/IMPS Collections

Uninformed Payments

An astounding number of suspense entries have accumulated because some members use NEFT payments but do not communicate with the treasurer or update the necessary portals.

Long Delays in Reconciliation

In order for receipts to be issued, the accounts team has to wait for the required bank statements before manually entering and approving the payments.

Insufficient Details

Payment bank statements missing the corresponding flat numbers make the reconciliation of payments effortless and timely.

Inaccurate Defaulter Reports

Failure to deliver precise and regular reports of defaulter payments results in losses not being recovered.

Overview eFlatbook Collection Gateway

eFlatbook provides each unit with automation by giving each unit a unique virtual bank account.
Members deposit payments into their account, making tracking and reconciling easy.
eFlatbook dumps all transfers onto the society’s bank account and processes them effortlessly.
SMS and EMAIL payment receipts are generated and sent automatically.
All transactions are recorded automatically without the need for personnel to make input, preventing any mistakes.
Your financial management now allows for complete relinquishing of effort while maintaining total assistance.

Benefits of Using eFlatbook Collection Gateway

Zero Convenience Charges

Provide great services to your members and relax as you pile up the savings with no additional expenses.

Automatic Reconciliation

Add sanity to your accounting procedures with accurate, easy automated reconciliation.

Secure and Reliable

Do not hesitate about doing transactions with great systems protecting your financial data as security features ensure anonymous usage is included.

Peace of Mind

Accounting accuracy and timely collection of dues is ensured thus lightening the burden of treasury and accounts’ workload.

Efficiency

Automating the entire collection process will save a great amount of time and minimize manual reconciliation errors.

Transparency

Increase trust and accountability by providing members with accurate and clear payment records.

Cost Savings

Housing societies will benefit from no convenience fees and setup charges making this solution affordable after removing payment constraints.