UpperBee Updates & News – June 2024
4 June 2024 | Gestion immobilière, Innovation, Innovation, logiciel, property management, software | Condo, Manager, Rental, UpperBee
Here are some of the latest improvements and new features of your UpperBee software that have just been put online to allow you to better manage your buildings.
To consult the full list of new features click here.
NEW
A new restricted method accounting method is added to UpperBee
We are excited to announce the addition of a new fund accounting method to UpperBee: The system was originally designed around the deferral method of fund accounting where revenue for restricted contributions is recognized when expenses are incurred.
UpperBee now provides the option for its clients to use the restricted fund method of accounting, where revenue is recognized when the contributions are received, regardless when the funds are used.
Although both accounting methods are accepted and authorized by Auditors, UpperBee has found that the boards of some of our clients in different markets are used to seeing their financial statements presented using the restricted and would prefer to continue in that fashion – Our clients spoke and, as always, we listened.
Why choose the restricted funds method?
- Flexibility: Existing clients can now choose can now choose between two recognized accounting methods.
- Efficiency: The restricted funds method is designed to provide an accurate, segmented view of finances, making budget management, and planning easier.
- Used by auditors: This method is frequently used by accountants to present the financial statements of condominiums and homeowners’ associations.
IMPORTANT : For current users of the deferred contribution method, please note that we are working on a migration tool that will make it easier for you to transition to restricted fund accounting. Note that this new functionality will be deployed in stages.
Initially, only new self-managed clients and new licensed managers will have access to this new functionality. Subsequently, this functionality will be offered to all our customers.
NEW
UpperBee Pay: self-registration of residents for direct debit
Residents can now register directly for bank direct debit using our online form with digital signature. Once signed, the direct debit is there awaiting approval, with all necessary documents at hand¹. Administrators, you receive an alert as soon as a direct debit needs to be approved.
Accounting has never been so simple and secure !
¹ : A minimal fee of $1.49 per signed form will be charged to the property.
Save time and money with an all-digital insurance experience
Thanks to UpperBee, you can save up to $474 and enjoy exclusive benefits tailored to your insurance needs through our partnership with Sonnet Insurance!
Access your UpperBee account in the section “Your offers/Sonnet“, to get your personalized insurance quote from Sonnet in only a few minutes!
IMPROVEMENT
Pay for your amenity reservations, access cards and garage remotes by credit card
UpperBee now allows residents to pay directly through the application by credit card. You and your residents will benefit from:
- Time saving and residents self-service,
- Reduced administrative tasks for properties.
IMPROVEMENT
UpperBee Rental – Export of invoiced rents
As a rental property operator, you can now export invoiced rents, a highly requested feature that simplifies the financial management of your properties.
IMPROVEMENT
Messaging – Create custom recipient groups now
UpperBee messaging just got better! You can now create custom recipient groups for each property. The recipient selection popup is replaced by a practical and intuitive drop-down menu that displays recipients and groups.
IMPROVEMENT
Messaging – Adding documents directly from the library
Adding documents has never been easier! Add files directly from the document library to your messages, as you already do in request. Simplify your communication in just a few clicks.
Benefits and discounts available to employees and residents (co-owners and tenants) of all buildings managed with UpperBee. Managers, your employees also have access.
How to take advantage of your benefit: go to the “Your offers/MovingWaldo” section on your UpperBee customer platform.
» Do not hesitate to contact us if you have any questions.
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