• A Property Developer Module in TallyPrime is designed to meet the specific needs of real estate businesses involved in property development, sales, and project management. This module helps track project costs, manage customer bookings, handle installment payments, and comply with statutory regulations like GST and RERA.

Below is a comprehensive guide to setting up and managing a Property Developer Module in TallyPrime.

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Key Features of a Property Developer Module

1. Project and Cost Management

• Cost Centers and Categories:
  • Track costs for individual projects and phases.
• Work Breakdown Structure (WBS):
  • Allocate costs under specific heads such as land acquisition, construction, approvals, etc.
• Job Costing:
  • Track expenses and revenue for each project.

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2. Customer Booking and Sales

• Unit Booking:
  • Record bookings for flats, plots, or units.
• Installment Management:
  • Track customer payments and overdue installments.
• Sales Agreement:
  • Generate agreements with details of unit size, price, and payment schedule.
• Cancellation Handling:
  • Manage refunds or penalties for cancellations.

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3. Vendor and Subcontractor Management

• Purchase Management:
  • Record purchases for raw materials, services, and approvals.
• Subcontractor Payments:
  • Track payments to subcontractors and reconcile completed work.

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4. Revenue and Payment Tracking

• Customer Ledger Management:
  • Maintain individual ledgers for each customer.
• Progressive Billing:
  • Generate invoices based on milestones (e.g., slab completion, possession).
• Retention Amount:
  • Track retention amounts and their release upon project completion.

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5. Statutory Compliance

• GST:
  • Manage GST on property sales and services.
• TDS:
  • Deduct TDS on payments to subcontractors or vendors.
• RERA Compliance:
  • Maintain records required under RERA, such as project-wise cost and revenue tracking.

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6. Reporting and Analysis

• Project-Wise Reports:
  • View costs, revenues, and profitability for each project.
• Payment Schedules:
  • Monitor customer payment schedules and overdue amounts.
• Cash Flow Reports:
• Track cash inflows and outflows for each project.