Our Accounting/Bookkeeping services use the industry leading Jenark accounting software to provide comprehensive financials that are easy to understand. This information makes it convenient for the board of directors to track utility and maintenance costs to allow for more accurate budget planning as well as make better informed decisions regarding future projects.
We take accounting very seriously. Every withdrawal for your Associations bank account requires an actual invoice or other authorized form of back up as well as Board approval. All checks require two authorized signatures. Reserve Funds can only be withdrawn by approval and signature of the Board of Directors.
ACCOUNTS RECEIVABLE
- Collect and process all Association dues, reimbursements, other payments
- Provide option for online payments or lock box services
- Associations have option for monthly statements or coupon booklets
- Send late notice to all members who have not submitted payment by late date
ACCOUNTS PAYABLE
- Establish bank accounts (Operating/Reserves) in Associations name
- Facilitate change of address for all utilities and vendors
- Receive, review and provide invoices to authorized Board Member or Manager for review and approval before processing
- Process checks timely (at minimum 2 X per month)
- Contribute assigned funds to reserve account monthly
- Expedite reserve fund transfers/expenditures at direction of Board of Directors
- Accurately maintain all bookkeeping records
- Reconcile all bank accounts monthly
- Produce Monthly Financial Reports which include – Balance Sheet, Income Statement/Budget Comparison Report, Cash Disbursement Report, Delinquent & Prepaid Report, Bank Reconciliation and Bank Statements
- Provide Financial Reports to Board of Directors monthly
Financials our produced using modified accrual accounting system