How can we account the interest received from the Bank Account in ADDA?

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• I'd like to allow users to make only maintenance payments through the ADDA app without paying interest. How to accomplish this on ADDA?

  In accordance with standard practice in all communities, it is essential to collect both interest and maintenance fees due from the residents. This method ensures that defaulters follow their obligations to pay both outstanding interest and ...

• What is bank reconciliation ?

  Income entries are being captured in Income Tracker and cheque / cash gets deposited in Bank Account. Expenses are being captured in Expense Tracker and cheques are written to withdraw money. How do you ensure that all the entries are correct and ...

• How to disable Late Payment Interest for specific units?

  To achieve this, you will have to create a new unit type called "NO LPI" and Make the following changes: Step 1 - Go to Admin Dashboard>>Income Tracker>>Track Units>>Unit Type>>Create a unit type called NO LPI>>Save Changes. Step 2 - Go to Income ...

• I see a transaction on my bank statement that seems related to my House. Did ADDA charge it?

  On ADDA you pay only those Dues that are posted by your Association. The Amount collected goes to the Association Bank Account. There is no other Transaction that ADDA posts and that shows up on your Bank Statement. Please write to our Support email ...

• How to create bank account in ADDA to capture the entries?

  To create the bank account in ADDA, kindly follow the below steps: Step 1: Go to General ledger>>Chart of accounts>>Assets. Step 2:Under Set up Bank & Petty Cash Details enter all the details i.e Group, GL account number, and Account name>>Click on ...