30th January 2024

New service charge tool announced

A sneak preview of Trace Solutions' new service charge tool, available in the latest release

We’re proud to announce the release of our latest software, version 6.70.10. It’s jam-packed with new features and improvements, all designed to make your business more efficient.

Simple. Intuitive. Powerful.
The new service charge tool

Within Housing Associations alone, over half a £billion was lost last year through the challenges of managing service charges.

Our products may be famous for handling this issue, but we haven’t rested on our laurels.

The latest release includes a powerful and versatile new Mojo-based tool that will make it even easier for your users to manage their S/C budgets.

Design and functionality has been based on meetings with the heads of leading property investment companies, commercial managing agents, private residential managers and housing associations, as well as surveyors, property managers and leading experts and consultants in the field.

We’re really proud of this new tool, and can’t wait for you to see it.

Macro through to Micro, at your fingertips

The new service charge tool allows you to navigate rapidly through all the service charge information for any building, to monitor live, real time information via intuitive table views and powerful chart visualisations.

The tool clearly identifies any items over budget and helps identify potential mis-postings.

You can jump with ease between a top-level view of a property’s service charge expenditure and the items that make up the figures. With built-in visual cues, it’s easy to see when a budget is running low or if an error has been made.

It all means you ever won’t miss the important stuff again.

Flexible, Customisable

View your figures by year, by period, or both; show budgets, actuals and variances side by side. Group expense codes by schedule, or enable cost classes and codes to view through RICS standards.

Collaboration when needed

The service charge tool is accessible by any team, so you can share notes for expense items and see them across charts and invoice lists, to provide a fully audited history for transparency and accountability.

And the best bit? Users of our products can use the new tool straight away. No set-up is required.

Other items in the new release

We’ve also improved how Unit Occupancy records are handled in the system, to make it even easier to correct gaps or overlaps in a unit’s occupancy history.

You’ll also find performance and usability improvements to the enquiries system, and improvements that make it even easier to record supporting evidence of any data change.

We’ve also extended the notes system. Similar to Property and Unit notes, it’s now possible to hold notes about the Companies/Clients set-up in the system. They can be viewed on the Creditor, Debtor, Head Lease, Property & Tenant Data Trees and are available on the built-in Quick & Property reporters.

And there’s more

You’ll find over 40 improvements in this release. For the full list, existing customers can read or download the release notes here.

There’s also a demo of the new tool for existing clients (required login).

As always, the release is provided free of charge to all our clients. Upgrade is easy, with all your customisations retained throughout the process.

Software release 6.70.10 is available now

If you’d like to know more about Trace property management software, please call us on +44 (0)20 7825 1299, email us, or use the contact form below.

We can provide demonstrations online or in person, at your convenience.

"We're really proud of our new service charge tool, and can't wait for you to try it for yourselves."

Kevin Grice, Director of Software Innovation, Trace Solutions

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