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FINANCIAL MANAGEMENT

STAFF ACCOUNTING RESPONSIBILITIES

ACCOUNTING

  • Prepare Monthly Financial Statements
  • Prepare Monthly Bank Reconciliation’s
  • Prepare Annual Income Tax Returns
  • Prepare Annual Budgets
  • Maintain Bank Signature Cards
  • Maintain 18 Months of Property Financial Records
  • Prepare Association Records for Annual Audits
  • Prepare Special Reports and Analyses for Clients
  • Liaison with Attorneys for Collection Activities
  • Respond to Client Accounting Concerns

MANAGEMENT SUPPORT SERVICES

FINANCIAL REPORTS

  • Aging Report – Delinquencies or Credit Balances Only
  • Income Report – By Account Number or Transaction Date
  • Reconciliation Report – All Current Month Transactions
  • Adjustment Report – Current Charges or Credits Only
  • Homeowner Address Change Listing
  • Aging Report – All Accounts
  • Bank Reconciliation’s
  • Balance Sheet – Assets & Liabilities & Equity
  • Summary Statement of Receipts and Disbursement
  • Detailed Statement of Receipts and Disbursements
  • General Ledger
  • Check Register
  • Journal Entries
  • Chart of Accounts
  • Reserve Journal Entries and Cash Transactions

ACCOUNTS RECEIVABLE RESPONSIBILITIES

  • Prepare Individual Homeowner Billings
  • Deposit Homeowner Checks
  • Deposit Developer Checks
  • Maintain Individual Account Histories/Ledgers
  • Prepare Duplicate Manual Statement, if requested
  • Process Address Changes
  • Process Special Assessment Fees to Individual Accounts for Violation Fees
  • Process Miscellaneous Income (gate card, key fees, clubhouse rental fees)

ACCOUNTS PAYABLE RESPONSIBILITES

  • Pay all Association Invoices after approval by Property Manager
  • Maintain Payables Files, Organized by Month, for each Property
  • Maintain Property Daily Bank Balances
  • Maintain Property Checking Accounts
  • Research Past Due Balances on Invoices from Vendors

DATA PROCESSING RESPONSIBILITIES

  • Prepare Property Assessment Statements
  • Place Messages on Statement as Directed by Manager
  • Prepare Individual Descriptions of Assessed Fees
  • Prepare special Programs and Reports for Properties

Bill, thanks for all of your assistance in the past few months with listening to our concerns and helping us to make this transition a seamless one with positive benefits for the Community.

Ellen K. Bradley, PresidentTERRELL TRACE HOA