Your community will have three accounting team members (A/R Representative, A/P Representative, Accountant) working diligently on your behalf to provide your homeowner association with timely and accurate financial statements, homeowner account resolution and promptly paid vendors. They will:
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Collect homeowner assessments and miscellaneous income
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Process and pay vendor invoices weekly
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Prepare monthly financial statements and reports
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Coordinate the preparation of association reserve studies
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Coordinate tax returns and audits
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Prepare state corporation commission filings
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Assess late charges and fines based on association policy
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Coordinate the implementation of any special assessments
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Collect delinquent homeowner assessments (notices, lien filings, judgments)
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Establish and maintain association bank accounts
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Coordinate budget analysis and preparation