Accounts Payable / Receivable
- All checks received are posted to each account.
- Deposits are prepared on a daily basis and done remotely through a scanner if the bank provides the service, or sent with a courier if the bank doesn’t.
- All unit owners enrolled in ACH are debited once a month.
- All lockbox reports are downloaded from the bank on a daily basis.
- ACH and Lock Box payments are posted on the next business day.
- For all checks on “Reject Payments” status, the manager will receive an e-mail and must respond within 24 to 48 hours with instructions on how to proceed with payment.
- Reports are generated and sent to the division manager on a monthly basis.
Our Accounts Payable / Receivable services:
- Maintenance payments
- Customized checks printed in-house
- Vendor payments
- Special Assessments
- Miscellaneous income payments
- ATM lock box service
- Estoppel request
Financial reports are prepared monthly and include:
- Balance sheets
- Income statements
- Monthly bank statements
- Accounts receivable listings
- Check disbursement listings
- Monthly bank reconciliation of each account
- Specialized reports
- Insurance schedule
- Prepaid reports
- Assistance in budget planning
- Mailing notices within appropriate timeframes
- Analysis of the previous year’s expenses
- Forecasting future trends
- Assisting Boards and Committees in budget workshops
- Mailing of approved coupons to homeowners