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Looking at the picture, both are fruits, but looking closer, one is an apple and the other is an orange, but they are considered fruits generally. A lot of accounting software is designed for trading or service businesses but not for property management (MCST)  account. If your software is not designed for a MCST business,…

20th July 2018 – Personal info of 1.5m SingHealth patients, including PM Lee, stolen in Singapore’s worst cyber attack How then can your individual SP information be protected? When you change MA, your MA keeps the database, because they are using their own accounting system.  We had discussed this topic in the earlier blog as “Who…

To all MC, Each MA will create a new email for your SP to contact them for report of defects, applications , or any correspondences. When the MC decided to change your MA, what happened to the follow ups that are still pending? Who owns the email trials? How do you handle the emails that…

Your vendors will send their invoice(s) to your MA, so will your banker, sending your monthly bank statement to your MA. Question : What happened when you change your MA? Answer 1 : Your new MA will have to inform all your vendors and banker a change of mailing address. Informing your vendors are much…

Assuming the Management Committee (MC)  agreed to change the current Managing Agent (MA). The handing over process are the physical items, pending tasks, follow ups etc. However, most often then not… a lot of information is not documented and transparent, and someone will drop the ball and another will have to attempt to pick it…

Managing agent (MA) as the word described, manages the contractors that provide the product and services to the condominium or commercial buildings, may it be security, landscaping, electrical team, you name it. Accounting functions, incidentally falls on the managing agent where they have to keep it in-house and manage a team of accounts staff, when…

How many vendors are submitting their monthly claims to your accounts payables and how long you are spending your time to record each invoice repeatedly of the same amount but only the invoice number and date of invoice is the change? We had created a vendor login page whereby the appointed contract vendor can login…