How money reaches the right member

Collecting money is easy. Knowing whose money it was is the hard part, and it is where most society books drift out of true.

A bank statement says a sum arrived. It rarely says which flat sent it. Matching those two is reconciliation, and doing it late is why ledgers disagree with the bank.

How money comes in

UPI

Members pay from the app. These carry a reference, so they match themselves.

NEFT and direct transfer

Arrive with whatever narration the member’s bank sent — often just a name, sometimes nothing useful.

Cheque and cash

Recorded on receipt and again on deposit, so the gap between the two is visible.

Matching them up

Statement import

The bank statement is read in directly — no retyping, and the debit and credit signs are preserved.

Assisted matching

Obvious matches are proposed automatically from amount, date and narration. A human confirms.

The ones that need a person

Part payments, a payment covering two flats, or a transfer from a relative’s account. These are surfaced rather than guessed at.

Disputes

A member who says they paid can raise it with proof, and it is tracked to a conclusion instead of living in a WhatsApp thread.

Why we ask for the bank statement

Socei will not invent a receipt. A payment is recorded when the society’s bank confirms it — that is what keeps the books and the bank in agreement.

Next TDS, explained without the jargon

Want this run for you?

On a managed plan a dedicated accountant does the work and your committee approves it.

Request a proposal