Managing finances is one of the most critical aspects of running a condominium. Keeping track of contribution fees, generating invoices, and ensuring timely payments can become overwhelming, especially with multiple units. That’s where DOMINIUM’s Contribution Feature, seamlessly integrated with Xero, streamlines the entire process for administrators while providing residents with a smooth, hassle-free experience.
Automated Invoicing with Xero: Save Time and Reduce Manual Work
With DOMINIUM’s Contribution Feature, administrators can set up contributions with predefined amounts and schedules. The Xero integration then takes over, automatically generating and sending invoices to residents as contributions are set up. This eliminates the tedious task of manually creating invoices and significantly reduces the risk of errors.
How It Works
- Set Up Contributions: Administrators can easily configure contribution types, amounts, and due dates, whether for monthly maintenance fees, special assessments, or reserve fund contributions.
- Automatic Invoice Generation and Delivery: Once the contribution is set, DOMINIUM—through Xero—automatically generates invoices based on the schedule and sends them directly to residents via email or through the Client Portal.
- Instant Notifications: Residents receive timely notifications about upcoming or overdue contributions, making it easier to stay on track with their payments.
This automation saves time, minimizes human error, and ensures a steady financial flow for the condominium.
Track Payments with Ease
Effective contribution management goes beyond invoicing; it’s also about tracking payments. DOMINIUM’s Contribution Feature provides real-time payment updates, giving administrators a clear overview of the financial status of the condominium.
Key Benefits:
- Real-Time Payment Tracking: Easily view which residents have completed their payments and identify overdue accounts, enabling prompt follow-up.
- Automatic Reminders: The system, through Xero, automatically sends reminders to residents who have yet to pay, reducing the administrative workload.
- Detailed Reporting: Generate financial reports with a breakdown of paid and outstanding contributions, offering valuable insights into the condominium’s overall financial health.
Seamless Resident Experience
DOMINIUM’s Contribution Feature isn’t just designed for administrators—it also enhances the resident experience. With access to a user-friendly Client Portal, residents can view their contribution history, check for upcoming payments, and even download invoices, all in one place. This transparency improves communication and reduces confusion, ensuring everyone is aligned on financial obligations.
Features for Residents:
- Client Portal Access: Residents can log in anytime to view invoices, payment history, and upcoming contributions.
- Flexible Payment Options: Integrated with DOMINIUM’s payment solutions, residents can make payments directly through the platform, adding an extra layer of convenience.
Enhance Financial Accountability
DOMINIUM’s Contribution Feature helps administrators keep condominium finances organized, accountable, and efficient. Automation reduces human error, ensures timely invoice delivery, and allows administrators to focus on other critical tasks instead of manual payment tracking.
Conclusion: Simplifying Financial Management with DOMINIUM’s Contribution Feature and Xero Integration
DOMINIUM’s Contribution Feature is designed to simplify financial management for condominium administrators. By automating invoicing, offering real-time payment tracking, and enhancing the resident experience, this feature improves overall efficiency and financial accountability. If you’re ready to streamline your condominium’s financial operations and reduce manual work, DOMINIUM’s Contribution Feature is the perfect solution.
Contact us today for a demo or to learn more about how DOMINIUM can transform the way you manage contributions and invoices.