Features & tools
How to link the condominium bank account to the software
Article 1129 of the Italian Civil Code requires the manager to route the condominium's funds through a specific bank account in the condominium's name, separate from the manager's own assets and from those of the other condominiums managed. Linking this account to the software at go live is what makes every instalment collection and supplier payment traceable to the correct account from the first entry, and it prepares periodic bank reconciliation. This guide explains how to set the dedicated IBAN, how to record the opening balance so it matches the statement, how to organize payment resources, and how to set up reconciliation so bank transactions and accounting stay aligned over time.
Setting the account dedicated to the condominium
The first step is to associate with the condominium file the IBAN of the account held in its name. This is not a formality: Article 1129 of the Italian Civil Code requires a dedicated, separate account for each condominium managed, and it grants owners the right to view and obtain copies of the periodic account reporting. A cumulative account gathering the funds of several condominiums is not allowed.
In the software the IBAN becomes a payment resource of its own, to which collections and payments are posted. If the condominium also uses cash or tools such as payment slips and direct debits, it is best to represent them as distinct resources, so every transaction knows which availability it enters or leaves.
Recording the account opening balance
Once the IBAN is linked, enter the account's opening balance at the chosen go live date, which must match the bank statement at that date to the cent. This balance is the starting point from which the software counts all later transactions. Entering a balance different from the real one makes any future reconciliation impossible.
The bank balance must be kept distinct from open items: unpaid invoices and uncollected instalments are not subtracted from the balance but recorded as payables to suppliers and receivables from owners. This way liquidity stays verifiable against the bank and the overall equity picture balances correctly.
Setting up bank reconciliation
Reconciliation is the periodic comparison between bank account transactions and accounting entries: it verifies that every collection and payment appears both in the bank and in the accounts, and it identifies differences such as fees, credits not yet recorded or payments in transit. Setting it up from go live prevents discrepancies from piling up and becoming hard to reconstruct at year end.
In practice, each period you import or enter the statement and match bank transactions to the corresponding entries. Unmatched transactions signal something to clarify: a collection to attribute to an owner, an expense not yet recorded, a bank fee to enter. Regular reconciliation keeps the cash always aligned with reality.
Operational benefits and transparency toward the meeting
An account linked and reconciled regularly produces concrete benefits: the balance shown by the software is always reliable, arrears surface immediately because the missing collection does not match, and reporting to the meeting rests on figures verified against the bank. This reduces disputes at statement approval and strengthens owners' trust in the management.
With AmministraPro you can link the condominium account IBAN, set its opening balance, manage multiple payment resources and reconcile bank transactions with the accounts: account management and reconciliation features are described on the features page (/funzioni), while plans for practices of different sizes are listed on the pricing page (/prezzi).
Frequently asked questions
Is a dedicated bank account mandatory for each condominium?
Yes. Article 1129 of the Italian Civil Code requires the manager to route the sums received and paid through a specific bank account in the condominium's name, separate from the manager's own assets and from those of the other condominiums managed. A cumulative account is not allowed. In the software this means linking a dedicated IBAN to each condominium file, so every transaction is tracked on the correct account from the first entry.
Must the opening balance match the bank statement?
Yes, to the cent. The account's opening balance is the starting point from which the software counts all later transactions and must match the bank statement at the chosen go live date. Entering a different value makes future reconciliation impossible. Unpaid invoices and uncollected instalments are not subtracted from the balance: they are recorded separately as payables to suppliers and receivables from owners.
What is bank reconciliation and why is it needed?
It is the periodic comparison between bank account transactions and accounting entries. It verifies that every collection and payment appears both in the bank and in the accounts and identifies differences such as fees, credits not yet recorded or payments in transit. Doing it regularly prevents discrepancies from piling up and becoming hard to reconstruct at year end, and it keeps the software balance always reliable.
How do I handle cash, payment slips and direct debits?
It is best to represent each instrument as a distinct payment resource in the software: the bank account with its IBAN, any physical cash and tools such as payment slips or direct debits. This way every transaction knows which availability it enters or leaves and reconciliation stays orderly. Keeping everything in a single undifferentiated container would make it hard to see how much liquidity is really on the account versus other channels.
What does an unmatched bank transaction indicate?
It indicates something to clarify. An unmatched collection may be an instalment to attribute to an owner; an unmatched outflow may be an expense not yet recorded or a bank fee to enter. Unreconciled transactions are therefore a list of checks to close: handling them promptly keeps the accounts aligned with the bank and surfaces any arrears or missing entries in good time.
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