Financial Management

Checking

• Maintain separate custodial account in the name of the Association.
• Prepare monthly bank reconciliation.

Savings

• Maintain separate savings accounts for reserve funds.
• Invest surplus funds in certificate of deposits or other money market accounts to maximize returns on invested funds at the direction of the Board of Directors.

Financial Record Maintenance

• Maintain detailed and accurate Charts of Accounts.
• Accounts Payable
• Accounts Receivable
• General ledger accounting.
• Prepare monthly or quarterly financial statements on an accrual basis for optimum accounting accuracy.
• Financial Statements include:
  • Balance Sheet
  • Accounts Receivable Aging
  • Accounts Payable Aging
  • Budget vs. Actual
  • Transaction Detail by Account
  • Check Detail Register

Association Fee Collection

• Monthly or quarterly collection of the Association fee via the "ACH"system which electronically transfers a co-owner's association fee directly into the Association's account on predetermined and advised dates.
• The "ACH" system is a software program that electronically transfers Association fees to the Association's bank account giving the co-owner the convenience of easy payments, while at the same time the
  Association has planned deposits on a timely basis.

Accounts Payable

• Payment of approved bills in a timely manner.
• Audit trail for ease of audit.

Accounts Receivable

• Customer Balance Summary
• Delinquency Report
  • Process and Collect Late Fees
  • Coordinate and Assist Attorney in Filing Liens to Collect Delinquent dues
• Posting of Association Fee Collections.

Financial Mission Statement

Our commitment is to provide professional and accurate accounting of the associations funds.