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Accounts Recievable

  • Maintain and update homeowner master list (adds/deletes/changes)
  • Complete Association questionnaires/certifications and closing letters
  • Create and mail invoices
  • Receive, record and deposit funds
  • Delinquency follow-up
  • Create and send monthly or quarterly statements for accounts with outstanding balances
  • Apply late fees and interest charges
  • Send “file/lien/collection” requests to Association’s Attorney
  • Court Appearances
  • Establish Budget & Chart of Accounts for Association
  • Input all revenue & expenses in accounting system and report monthly
  • Produce monthly financial reports, including:
    • Income Statement (Budget vs. Actual YTD)
    • Balance Sheet
    • Check Register
    • Homeowner Delinquency Report
  • Reconcile bank statements monthly
  • Prepare tax return information for outside accountant (CPA)

Accounts Payable:

  • Receive, review, and ensure timely payments of vendor invoices
  • Attach check stub with invoices, statements or receipts
  • Online invoice approval available for Board Members with Community Website
  • Encrypted digital signature for checks

Budgeting:

  • Develop Proposed Budget based on previous year
  • Produce working budget documents for board of directors
  • Produce consolidated budget for board review and approval
  • Provide budget increase/decrease recommendations

Reserve Analysis:

  • Assist engineering firm or Reserve Specialist to conduct reserve study

Management Company Expenditures:

  • Provide monthly detail of all Management Company expenses
  • Provide detailed monthly invoice for services