Financial Features

What is Blockman?

Watch Overview

Residential block management software that will enhance your financial efficiency

Blockman is an advanced accounting platform designed to handle the complex financial needs of managing multiple properties. It provides a suite of financial features that simplify residential block management and enhance financial efficiency and transparency.

Book Demo

blockman financial features budget analysis

Above: Visualisation of Blockman’s Budget Analysis Portal

Blockman’s Financial Features

Blockman’s features for enhanced financial efficiency in residential block management include the following:

Comprehensive service charge management

Blockman’s sophisticated service charge management system is game-changing for residential block management. Property managers can generate service charges based on multiple lease schedules.

This flexibility is critical in environments where lease agreements differ significantly and require various apportionment methodologies. The software allows managers to allocate costs fairly and accurately according to the specific terms of each lease. This feature ensures that all charges are equitable and transparent, fostering trust and satisfaction among tenants.

Multi-budget expenditure posting

Managing finances across multiple properties often means juggling numerous budgets simultaneously. Blockman simplifies this process by enabling the posting of expenditures against multiple budgets. This capability is particularly beneficial for property managers overseeing large portfolios, as it allows for precise tracking and allocation of funds across different properties and projects.

Whether dealing with routine maintenance, capital improvements, or emergency repairs, Blockman ensures that money is accounted for accurately, supporting better financial planning and control.

Streamlined payment processing

Blockman’s financial suite includes powerful tools to streamline payment processing, significantly reducing administrative burdens. Receipt files can be easily imported into the system, facilitating quick and accurate processing of Service charge payments or receipts.

Additionally, Blockman supports the export of BACS or Creditor payment files, automating transactions and minimising the risk of human error. This feature not only saves time but also enhances the reliability and efficiency of financial operations, allowing property managers to focus more on strategic tasks rather than mundane administrative duties.

Comprehensive financial reporting

Accurate and detailed reporting is the backbone of effective financial management, and Blockman makes this effortless. The platform offers a wide range of reports, including Trial Balance, Balance sheet, and Income and Expenditure Reports, a true measure of a general ledger-based accounting system.

These reports provide a clear and comprehensive view of the financial health of the property or block, enabling managers to make informed decisions based on up-to-date data. The Actual Vs Budget Accounting feature allows property managers to compare real-time financial performance against budgeted expectations, identifying variances and taking corrective actions promptly.

Portfolio and block-level reporting

As macro and micro-level insights are essential for effective residential block management, Blockman offers both detailed portfolio and block-level reporting. Managers can drill down into the specifics of individual blocks or take a high-level view of the entire portfolio, gaining insights crucial for strategic planning and operational efficiency. This dual-level reporting ensures no detail is overlooked and managers have the necessary information to optimise performance across all properties under their care.

Above: Visualisation of Blockman’s Overdue Units Graphs

Complete financial solution

Having been explicitly created for those involved in residential block management, Blockman offers a complete financial solution. For property managers who demand excellence in financial management, Blockman is an indispensable tool.

Its comprehensive features, from service charge generation and multi-budget expenditure posting to streamlined payment processing and detailed financial reporting, provide everything needed to manage finances precisely and easily.

FAQs

Software Overview

What is Blockman exactly?
Blockman block management software is an advanced accounting and administration platform for property managers overseeing apartment blocks and residential multi-unit developments. Blockman streamlines various aspects of property management, from financial accounting to maintenance, enabling property managers to perform their duties efficiently and effectively.

MyBlockman, an online portal, complements Blockman by providing owners and residents with a user-friendly interface to access important information, communicate with management and stay updated on developments within their community.
What does Blockman include?
Blockman is an industry-specific accounting solution for managing service charges. It provides a comprehensive accounting and administration solution tailored to the complexities of property management.

The software enables users to raise service charge demands across multiple lease schedules, record expenditures against different budgets, receive supplier payments through BACS, import and post receipts, and generate balance sheets, trial balance, and income and expenditure (P&L) reports on a per-block basis.

Blockman is non-modular, so it includes all the features advertised at no extra cost. The only optional add-on is the online portal, MyBlockman, which has a small additional monthly charge.
Who is Blockman for?
Blockman is for property managers and agents who manage one or more multi-unit developments where common area costs are apportioned between the individual unit owners in the form of a service charge.