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Finance Overview

A complete residential finance and statutory accounting operating system

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Overview

Finance in Manage.Management is tailored to your role and level of accounting detail:
  • Directors and management companies get a full financial operating system with a Simple / Pro mode toggle, role-visibility preview banners (Director View, Leaseholder View, Management View), and a persistent Financial Year selector (defaulting to the classic UK 1 April – 31 March cycle).
  • Leaseholders and shareholders get a clear resident money view focused on their unit balance, itemised service charge breakdown, instant Pay by Bank or Free Manual BACS checkout, payment history, and published annual accounts.

Simple vs Pro Finance Mode

Simple mode gives RTM/RMC directors plain-English workflows for budgets, transactions, demands, and annual accounts. Pro mode unlocks the full double-entry ledger, Section 20 consultations, three-way reconciliation, and statutory reports.

Jurisdiction-Aware Packs

Supports England & Wales (LTA 1985/1987, CLRA 2002, TECH 03/11), Scotland Factoring (Property Factors Act 2011, Tenements Act 2004), and Ireland OMC (MUD Act 2011, Sinking Fund min €200/unit, CRO & SEPA XML).

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Director and manager finance workspaces

Under Money in the navigation (and as dedicated workspace cards on the Finance Overview), directors and managing agents can work across standalone pages or tabs:

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Core Finance v2 capabilities (Phases P1–P9)

The Pro ledger separates four statutory books: TRUST (Section 42 ring-fenced service charge and reserve funds, nominal accounts 1000–5800), CLIENT_OTHER, COMPANY (RMC/RTM corporate entity accounts), and AGENCY.
  • Minor-unit precision: All monetary values are stored and calculated in integer minor units (pence/cents) to eliminate floating-point rounding drift.
  • Period locks, dual-approval & audit trail: Lock completed financial periods against backdated edits; every journal entry is posted atomically (post_journal) and reversed or corrected only via audit-logged contra entries (reverse_journal / reverse_and_repost_journal).
  • Opening Balance Reconciler: Import opening unit arrears, advance credits, and fund balances (including via the Blocks Online Import Wizard) with a deterministic £0.00 trial balance variance gate (Assets − Liabilities === Fund Balances).
Connect lease clauses directly to schedule budgets and unit demands:
  • Side-by-Side Lease Rule Verification: In /management/leases, inspect AI-extracted lease clauses alongside the original lease text and verify apportionment basis, payment frequency, ground rent, and interest rules (verify_lease_rules).
  • Largest-Remainder (Hamilton) Apportionment: Deterministic penny-exact apportionment ensures schedule splits across units always sum to 100.00% without rounding drift, paired with Mod-97 check-digit unit account references.
  • Versioned Budgets & RICS 4th Ed. Variance Gate: Require explanatory notes on budget lines that vary by more than 10% year-on-year before locking the budget, plus 10-year PPM reserve forecasts (LFRA 2024 s21E).
Before issuing service charge demands, the fail-closed Demand Compliance Validator verifies statutory prerequisites:
  • Section 47 & Section 48 (LTA 1987): Confirms landlord name/address and address for service in England & Wales are explicitly recorded (never silently inferred), alongside the s21B Summary of Tenants’ Rights and Obligations and s166 ground rent notices where applicable.
  • Section 20B (18-Month Rule): Warns if any underlying expenditure was incurred more than 18 months prior without a written s20B notice.
  • Section 42 Designated Trust Bank Account: Ensures payment instructions point to an encrypted, ring-fenced client trust account.
  • Branded Statement Previews & Evidential Delivery: Preview and download print-ready demands and statements with managing agent Brand Kit logos and statutory footnotes, and dispatch via Email or 1st Class Royal Mail with delivery evidence.
Import bank statements across 13 UK/IE bank CSV formats (Barclays, Lloyds, NatWest, HSBC, Metro, Santander, Handelsbanken, Virgin Money, Allied Irish, Bank of Ireland, Revolut, Starling, Wise), OFX, or ISO 20022 CAMT.053 with SHA-256 duplicate file rejection, or sync Mollie Settlements (stl_... payouts):
  • Auto-Matching & Unidentified Suspense Ageing: Matches incoming receipts to leaseholder demands by reference, amount, and saved rules, while tracking ageing on any unidentified suspense receipts.
  • Audited Journal Corrections: Finance Admins can correct misallocated journals via reverse_and_repost_journal with a mandatory audit reason and visible correction badge.
  • Monthly Three-Way Reconciliation & 12-Year Evidence Pack: Verifies that (1) Physical Bank Statement Balance === (2) Cashbook Ledger Balance === (3) Total Net Fund Balances (Operating + Reserve) with £0.00 variance, and exports a signed 12-Year Statutory Evidence Pack (Limitation Act 1980 s8).
Control contractor expenditure from initial quote request to bank payout:
  • Supplier Quote Requests & Working-Day Chasing: Request quotes from Issues or Purchase Orders with automated UK working-day overdue detection (excluding weekends and England & Wales bank holidays) and one-click timeline chase emails.
  • Recurring Works & Purchase Orders: Issue standalone or MRI-linked Works Orders and recurring POs with maximum spend caps, invoice count caps, financial-year expiry, and branded PDF dispatch.
  • AI Supplier Invoice Capture & 30-Day Bank Cool-Off: Upload supplier invoice PDFs for automatic OCR extraction, duplicate invoice blocking, and a 30-day cool-off lock on supplier bank account changes unless verified out-of-band.
  • Payment Run Builder, s42 Overdraft & BSA Schedule 8 Guardrails: Batch approved supplier invoices into a UK BACS or ISO 20022 SEPA (pain.001 / pain.008) payment run. The Section 42 Trust Overdraft Guardrail blocks any run that would push a building’s trust fund below £0.00, and the Building Safety Act Schedule 8 Guardrail blocks recharging prohibited remediation costs to qualifying leaseholders.
For mixed-use blocks and structured arrears recovery:
  • Commercial Unit VAT Engine: Configure unit use class/tenure and building VAT Profiles (HMRC VAT Notice 742 §11, Option to Tax confirmation gate, ESC 3.18, and EN 16931 electronic invoicing fields).
  • Arrears Unit/Owner Balance Picker & 4-Stage Scheduled Comms: Pick any overdue unit to inspect 30/60/90+ day balances and schedule 4-stage compliance chasers (Day 7, Day 14, Day 21, Day 28) with selectable Tone of Voice (Warm & Polite, Balanced, or Formal Statutory) and formatted A4 letter previews.
  • Pre-Chase Compliance Gate, Payment Plans & Solicitor Handoff Pack: Prevents escalating a case unless s47/s48, s21B, s166, and s20B checks pass and no active dispute, payment-plan, or vulnerability pause applies. Export a one-click Solicitor Handoff Pack for court or First-tier Tribunal recovery.
Streamline year-end statutory accounts and corporate filings:
  • 7-Stage Plain-English Year-End Tracker & 9-Stage YECP: Track every building across plain-English stages (Waiting on Bank Rec, Drafting Pack, With Accountant, With Directors / Landlord, Ready to Issue, Published) with overdue indicators and “Waiting On” filters.
  • Separated Accounts & Presenter Fields: Clearly separates Service-Charge Accounts (LTA 1985 s21) from Company / Dormant Accounts (Companies House filings) with optional approving director, approval date, presenter name/firm, and Companies House personal code / ACSP reference fields.
  • Org-Policy Surplus Credits & Leaseholder Preview: Automatically calculate and post year-end surplus credits (or reserve transfers) per your organisation’s policy, and preview the plain-English “Your Year in One Page” resident summary.
  • External Accountant Portal & Companies House iXBRL Filing: Grant time-bound scoped access to your reporting accountant (TECH 03/11 factual findings or ISA 800 audit), run company dormancy checks, and file Dormant Company Accounts (AA02) or Micro-Entity Accounts (FRS 105) in iXBRL.

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Collecting payments online vs free bank transfer

When a leaseholder opens an outstanding service charge demand, the Service Charge Checkout presents two transparent options side by side:
  1. Instant Online Payment via Mollie Pay by Bank (Open Banking):
    • Leaseholders authenticate in their UK banking app via Faster Payments (up to £40,000 per transaction, zero chargeback risk).
    • Under the default Manage Fee policy, a flat 1% platform fee applies on managed portfolios (3% on self-managed blocks), routed via Mollie Connect so 100% of the service charge settles into the building’s designated Section 42 trust balance without a penny of shortfall. (Buildings can alternatively configure an Absorbed fee policy.)
  2. Free Manual Bank Transfer (BACS / Faster Payments — £0.00 Fee):
    • Always displayed alongside online checkout and badged Free (No Fee) with one-click copy buttons for the block’s Account Name, Sort Code, Account Number, and mandatory Payment Reference, plus an I’ve made payment confirmation step.

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Specialist Report Packs & Benchmarking

In Reports & Analysis, directors and property managers can preview and download standard UK block management reports (1038a, 1038b, 006, 018, 021, 077), custom portfolio report presets, and eight compliant report packs in PDF, CSV, or Excel:
  • 6 Standard UK Block Reports: 1038a/1038b (Annual & Period Budget vs Actuals by Schedule), 006 (Aged Debtors & Arrears Status), 018 (Cash Book & Three-Way Bank Rec Pack), 021 (Committed Works Orders & Unpaid Supplier Invoices), and 077 (Reserve Fund & 10-Year Capex Forecast).
  • Monthly Director Board Pack — Cash by fund, budget vs actual, arrears summary, unpaid supplier bills, and upcoming statutory dates (RICS 4th Ed. & TPI Ed. 4 aligned).
  • LPE1 Leasehold Property Enquiries Pack — Pre-filled Law Society Form LPE1 financial pack for flat sales and conveyancing.
  • Double-Entry Trial Balance & Fund Statement — Nominal trial balance across Section 42 Trust accounts (1000–5800), operating schedules, and reserve funds.
  • Aged Debtors & Credit Control Pack — 30/60/90+ day unit arrears ageing, payment plans, and pre-chase compliance status.
  • UK Service Charge Index Benchmark — Compare your building’s expenditure per flat against the TPI 2026 UK Service Charge Index (2019–2026 expenditure history and CPI trajectory across 10 standard cost categories).