In Singapore, PayNow QR codes for MCSTs (Management Corporation Strata Titles) often include a UEN ending in ‘001’ because this suffix designates a specific sub-entity or account under the main UEN. Here’s a breakdown of why this happens: — 🧾 What is a UEN and why does ‘001’ appear? • UEN (Unique Entity Number) is…
Most of the time the out-going MA will hand over the accounts to the in-coming MA, one of the types of information is the strata roll. Strata roll is very important to get it up into the database as we may need to issue invoices for the coming quarter and if it falls on the…
The biggest challenge of changing an accounting system or taking over the financial system from the out-going managing agent is the strata roll and vendor listings, brought forward figures of the general ledgers, accounts receivables, payables, We make it easy if you sign up with Realtimme Cloud MCST plan. Just pass the above information to…
Many a times, operation staff are requesting for quotes from new or existing vendors for ad hoc repairs or purchase of new parts or replacing existing tools or parts. It is made worst when they prepare the documents in their own drive and information is not shared out as how many RFQ sent or no…
We are constantly adding new features and functions to our system to increase our user’s productivity. Some ideas come from our users who share with us their challenges to get certain work done that is taking too long. We evaluate their feedback and if we find that the solution to their challenges will benefit all…
We have a separate team that provides out-sourced bookkeeping services to managing agents for condominiums and or commercial properties to value add to our mcst software solution We encountered requests to waive off late payment charges for reasons that they do not receive the invoices and / or email notification of their Managment fund and…
Currently, user generate late payment interest for SP that pay after the grace period, at the end of the month, after the bank reconciliation. That would mean after the month end, into the next month. When an SP pay after the grace period, we are able to calculate the late payment interest immediately and post…
Many managing agents are concern that by signing up the full year subscription of our MCST plan, the contract or project may be terminated any time in short notice, thereby leaving the remaining subscription remains “unused”. When the project is big, the amount committed to subscribe Realtimme cloud MCST plan may be by the thousands…
As we also provide out-sourced bookkeeping services to managing agent, we had recently, took over a set of mcst accounts from an out-going managing agent. Our advice to all council members is that to make the out-going managing agent to request from all vendors a statement of accounts as at the last day of the…
We provide out-sourcing finance team for managing agents. We were recently tasked to do a handover/takeover (HOTO) from the outgoing MA to my client who will be the incoming MA for a fairly large condominium Many would have experienced that there will be disputes of incomplete performance on either parties that one party will hold…