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 Postings and Processes of COA Management

Use

You post costs and revenues of a condominium owners’ association (COA) in COA management on settlement units of the company code where they should be recorded.

You post all transactions that affect the COA as a whole in the COA company code.

Prerequisites

Master Data:

Features

  • You can make complex postings using the one-time postings function.

  • You can settle costs and revenue of the condominium owners’ association (COA) to its members ( COA settlement ).

  • You can perform periodic posting for assessments, and manage assessment collection.

  • You can create an annual budget , and based on that you can perform an assessment adjustment.

  • You can perform special posting procedures for the condominium owners’ association (such as, special assessments , reserves).

  • You can manage financial transactions with the tenant using a COA bank account, which differs from the bank account of the condominium owner.

  • You can calculate special assessments .

  • If you own condominiums that are part of a COA yourself, or if you manage them for others, then you can perform service charge settlement for tenants of rented condominiums (tenant settlement) in the COA company code.

  • You can enter into management contracts , for example, with owners of condominiums, and post management fees.