Collect maintenance by bank transfer or Raast wherever you can, because the bank keeps the record for you, but accept cash when residents need it. The safe rule for both is the same: every payment gets a proof and a numbered receipt, cash is deposited into the building account on a fixed day, and the monthly totals are matched against the bank statement and the cash box.
Why does the payment method matter for records?
When a resident says "I already paid" and the treasurer says "I never received it", the real problem is not the money. It is that nothing can settle the matter. A bank transfer settles it in a minute because the reference number is in both statements. A cash payment settles it only if a receipt exists.
So the question is not which method is better in theory. It is which record you will have at the end of the month. If both leave a good record, both are fine.
What are the strengths and weaknesses of each method?
| | Cash | Bank transfer / Raast | |---|---|---| | Proof created by itself | No, needs a receipt | Yes, bank reference and time | | Risk of loss or theft | Higher while cash is held | Lower | | Easy for all residents | Yes, including elderly residents | Needs a phone or app | | Matching with statement | Only after the cash is deposited | Direct | | Dispute risk | Higher without receipts | Lower | | Handling by treasurer | Counting, safe keeping, deposits | Checking the statement |
Neither is perfect. Cash is simple for the person paying, but the treasurer carries the risk. Bank transfer is cleaner, but a screenshot without the flat number is just as confusing as a loose note.
How do you keep proof for bank transfer and Raast payments?
- Use one building account. Open it in the name of the building or the committee, following your by-laws and what the bank requires. Never a personal account.
- Flat number in the reference. Ask residents to write it, for example "B-204 October maintenance". Without it the treasurer has to guess who paid.
- Resident keeps the slip. A screenshot or slip with amount, date and reference number.
- Treasurer matches the statement. At least weekly, tick every credit on the statement against a flat. Anything unmatched goes on a short list and is asked about in the group.
- Issue the receipt. After confirming the credit, issue the committee receipt. The screenshot proves the resident sent it, the receipt proves the committee received it.
This is the same idea as in Proof ke saath hisaab: the number, the proof and the receipt belong together.
How do you keep proof for cash payments?
- Numbered receipt book. Each receipt has a number, date, flat, month, amount and the signature of the person who took the cash. A carbon copy stays with the committee.
- No receipt, no cash. Residents also should insist on a receipt. It protects both sides.
- Two people count. When cash is counted, it is better that two committee members are present and sign the count sheet.
- Deposit on a fixed schedule. Weekly, or when the amount reaches a limit your committee agrees. Cash that stays in a drawer for a month is where most trouble begins.
- Keep the deposit slip. The deposit slip total must match the receipts in that period.
- Photograph the receipts. The same day. A paper copy can be lost, a photo in the shared folder cannot be argued with later.
How do you match both together at month end?
Use a simple check. All figures below are examples.
| Line | Amount (PKR) | |---|---| | Bank transfers received (from statement) | 220,000 | | Cash receipts issued (from receipt book) | 80,000 | | Cash deposited in the bank | 70,000 | | Cash still in the box | 10,000 | | Total collections for the month | 300,000 |
Two checks must pass. First, bank credits equal transfers plus cash deposits. Second, cash receipts equal cash deposited plus cash in the box. If either does not match, find out why before the report goes out. Add these totals to the monthly financial report.
What mistakes do committees make most often?
- Treasurer's personal account. Fast at the start, painful at the first audit.
- Cash spent before deposit. Paying a vendor straight out of collected cash makes the books hard to follow. If you must, write it as an expense with a receipt.
- Half receipts. A signature but no date, or a date but no flat.
- Screenshots in one phone. If the treasurer changes, the proof leaves too. Keep a shared, backed up folder.
- Silence on unmatched credits. An unknown deposit is a question, and the answer should be in writing.
- Differences between owners and tenants. Who pays and in which month can depend on the agreement. See Tenant vs owner maintenance rules.
Can you move residents from cash to bank transfer?
Gradually, yes, and without forcing it. Start by making bank transfer the default in the monthly notice, put the account title and number on every notice, and keep a cash option for those who need it. Many residents change simply because the receipt arrives faster with a transfer. Do not set any penalty or rule for cash payers unless your by-laws allow it and the AGM has agreed.
If there is a serious dispute about a payment, the committee should check the bank record and the receipt first, and take advice from a qualified accountant or lawyer if it cannot be settled.
A checklist for the treasurer
- One building bank account, no personal account
- Numbered, signed receipt for every cash payment
- Flat number in every transfer reference
- Weekly match of the bank statement with flats
- Cash deposited on a fixed schedule with slips kept
- Monthly totals checked in both directions
- Proof stored in a shared, backed up place
Nearlify lets residents upload payment proof with the bill and gives the committee a receipt for each payment, whether the money came by cash, bank or Raast, so the record is in one place. You can try it at https://nearlify.app/signup.