The system provides support to all of the essential financial management activities required to administer service charges and ground rents. This includes the production of demands, management of leaseholder receipts, processing of supplier invoices and recording of all financial, bank account transactions.
All demands are prepared according to legislative requirements using template layouts ensuring user compliance.
A diary management function and document repository supports the management and tracking of insurance renewals, health and safety assessments, and Companies House reporting. An asset register records details about the assets at a property.
Leaseholders
Service Charge demands
Issue Ground Rents
Raise ad-hoc invoices
Record leaseholder payments
Leaseholder statements
Annual Budget
A new budget is recorded each year using an extensive list of finance (line item) categories.
Budget certificates
A pre-formatted budget certificate is generated and available to print and send to leaseholders with their demands.
Service charge and ground rent demands
All demands are produced as pdf files, saved in the system and available to print and send to leaseholders.
Draft demands
Demands can be drafted to allow you to view them before they are produced.
Leaseholder receipts
A pre-formatted receipt can be generated for leaseholders.
Legislative requirements
All demands are prepared according to legislative requirements using template layouts.
Real-time financial information
All service charge and reserve fund balances are maintained in real-time.
Multi-schedule blocks
The system allows the management of blocks with a single payment schedule or multiple payment schedules.
Third-party and ad-hoc demands
Demands can be raised for non-leaseholders (e.g. a landlord) and ad-hoc charges can also be raised (e.g. key replacement charge) for leaseholders.
Suppliers
Record supplier invoices
Keep track of payments
Upload supplier invoices
Allocate expenditure
Supplier contact details
Store key information about your contractors – Names, addresses, email accounts, a link to their web-site and default service details.
Agent-wide and local suppliers
The system allows you to differentiate between your regular contractors (or maybe those who have been approved or vetted) and those who only provide services to one or two of your blocks.
Expenditure allocation
All suppliers have a default service – Any invoice can be allocated to an expenditure category or any block schedule.
Supplier payments
Supplier payment details can be recorded when the invoices are loaded, or you can defer recording the information until you make the payment.
Supplier invoices
A copy of the invoice can be uploaded allowing all members of staff to have ready access to key information.
Remittance advice
A pre-formatted remittance advice can be generated which can be printed and sent to suppliers.
Banking
Multiple bank accounts
Real-time access
Flexible bank reconciliations
Multiple bank accounts
Keep track of separate bank accounts for service charge and ground rent as well as other funds you may be monitoring (e.g. reserve fund or insurance).
Allocation to reserves
When leaseholder receipts are allocated to service charge demands the system will automatically keep track of reserve fund balances.
Bank charges and interest
The system allows you to record bank charges that are incurred and any interest that you receive on your accounts.
Year-end financial reporting
A full range of financial reports are available for submission to accountants. The system will ‘lock’ relevant information to ensure that historic figures cannot be altered in error.
Surplus / deficits
Once the end of year accounts have been produced, the system creates demands / credit notes based on the allocation of surplus / deficit figures to units.
Bank reconciliations
Reconcile bank accounts on any frequency – daily, weekly or monthly – and partially process reconciliations if you need to investigate queries.
Property Management
Single repository
Track insurance policies
Health and safety reports
Companies House records
Asset details
Keep a record of all key information about your buildings – Access details, location of utilities, lift details, estate layout, etc.
On-site access
View and update key asset information whilst on site via smart devices or print a report with all of the details.
Insurance policies
Record details of insurance policies(e.g. buildings, D&O, lift insurance) and upload key documents.
Insurance reminders
Reminders are reported when policies need to be renewed and follow-up actions need to be taken.
Health & Safety
Keep health and safety reports (e.g. fire risk assessments, asbestos surveys and legionella reports) securely stored away.
Companies House
Maintain Companies House records, including shareholder and director details, and receive reminders for the submission of Annual Returns and company accounts.
Reporting
Reports at the click of a button
Download key data
Extract correspondence details
Reporting
Flexible reporting allows reports to be produced for any financial year, as well as custom date ranges. Reports are produced in pdf format ready to be printed or saved.
Extract key data
Key financial information can be extracted to allow more detailed analysis by financial and property management staff, and leaseholder details can be downloaded to enable mail merges to be performed.
Advanced functions
Migration tools
Interfaces to banking systems
Migration to Blocks Online
To ease the transition to Blocks Online we have a number of migration tools to support the upload of information from your old system(s). Please call us to discuss these in more detail.
Banking System
Blocks Online has a number of interfaces to allow the routine uploading of leaseholder receipts and downloading supplier payments for processing in your online bank. Please call us to discuss these in more detail.
