PROJECT SCOPE
Counting Inc. has successfully delivered a comprehensive Odoo-based solution tailored specifically for the real estate sector, addressing the unique requirements of property management, sales, and financial compliance. This custom development involved creating bespoke modules and features to streamline real estate operations, automate financial entries, and enhance compliance with IFRS standards. The project scope included developing a property management module, CRM enhancements, document automation, financial automation, and advanced accounting features.
KEY FEATURES
CUSTOM PROPERTIES APP
We designed a specialized module for managing properties that enables our clients to handle the following aspects effectively:
- Property Specifications: Captures detailed information about properties, including size, layout plans, and specifications.
- Sales Pricing: Supports multiple sales price options, allowing real estate clients to manage flexible pricing structures across different units and projects.
- Off-Plan Sales: Developed features for managing off-plan sales and associating these with invoicing systems for financial tracking.
This module centralizes property data, providing a single repository for property specifications, pricing, and availability status, essential for real estate operations and sales.
CRM FOR REAL ESTATE
Our custom CRM solution integrates available property units directly with client records, allowing real estate agents and sales teams to quickly access property details when interacting with potential buyers. Key features include:
- Customer and Property Integration: Links customer information with available properties, streamlining the process of matching clients with suitable units.
- Agency Commissions: Added fields for real estate agencies to track commission structures on each sale, helping our clients manage agent and agency partnerships.
This integration improves the efficiency of the sales process, enabling personalized service and tracking each interaction from initial interest to sale closure.
DOCUMENTAT AUTOMATION
We automated the creation of key transactional documents, minimizing manual effort and ensuring consistency across sales transactions:
- Expression of Interest (EOI): Automatically generates EOIs for potential buyers, capturing essential details of buyer interest in specific properties.
- Sales Purchase Agreement (SPA): Automates the generation of SPAs with relevant client, property, and pricing information, reducing time and errors in the contract creation process.
- Sales Offer: Provides automated creation of sales offers for buyers, presenting them with clear and standardized information regarding the transaction terms.
By streamlining the document generation process, our solution enhances operational efficiency and provides clients with a professional and cohesive document suite.
INVOICING & STATEMENT OF ACCOUNTS
The invoicing and statement of accounts system has been customized to suit real estate requirements:
-Linking Off-Plans to Invoices: Our system automatically links off-plan units to invoices, enabling better tracking of revenue and project status.
- Customized Statement of Accounts: Generated statements provide detailed account summaries for each client, encompassing sales, payments, and outstanding balances tailored to real estate transaction structures.
These features provide real estate clients with clear financial documentation and improve visibility into project financials, supporting both customer service and financial oversight.
AUTOMATED ACCOUNTING
We developed robust automation for various financial entries, ensuring the system seamlessly records necessary accounting transactions, including:
- Sales Entries: Automates sales journal entries for each transaction, ensuring accurate and timely revenue recording.
- Commission Entries: Automatically records commissions due to agents or agencies, simplifying payroll and commission management.
This automation reduces the risk of human error in financial recording and ensures that transactions are posted in real-time, enhancing the reliability of financial data.
IFRS COMPLIANT REPORTING
For our real estate clients, we developed customized financial reporting features to align with International Financial Reporting Standards (IFRS), including:
- Balance Sheet Grouping: Custom grouping structures in the balance sheet have been implemented to reflect real estate-specific assets and liabilities.
- IFRS-Compliant Reports: Tailored financial reports align with IFRS standards, facilitating compliance and supporting transparent financial disclosures.
These customizations ensure that our clients can generate compliant financial statements while gaining better insights into their financial position.