What is Accounting Plus+?
Some self-managed condominium corporations may need more than just an accounting service. That’s why, in addition to our standard accounting service, we offer Accounting Plus+. Choose from an array of optional services which can be selected a la carte at a cost effective hourly rate. Click here to view and compare the complete listing of our optional services!
Basic Accounting Plus+ Package
Our accounting department will accurately record and report the monetary transactions of the corporation. Responsibilities include accounts receivable, accounts payable, financial reporting and maintaining financial controls. We will ensure that your Board will have all the information they need in order to prepare budgets and forecasts and to make other important decisions. Here is a list of the standard accounting services that we provide to all of our clients.
- Utilizing a secure lockbox banking system, we will deposit all receipts into the corporation-specific account (no co-mingling of funds)
- Disburse all accounts payable in a timely manner
- Collect common element fees and other accounts receivable
- Reconcile bank statements monthly
- Prepare full annual financial statements, A/R, A/P, Balance Sheet, etc
- Provision of all financial records for auditor
- Prepare investment reports and reserve fund expenditure reports
- Maintain a ledger for each owner, which details receipts and charges
- Board members have direct access to a dedicated manager via telephone and email
- Send past due notifications to owners
- Assess owner late fees
- Process delinquent owner arrears in accordance with the Condominium Act
- Maintain and archive all accounting records as required by law
- Assist the Board with securing financing for larger projects
- Referral of qualified, insured contractors and service providers to the Board
- Inform the Board of pertinent changes in government regulations and condominium law
- Send out information certificates as required by law
- Assist the corporation to be compliant with and understand the Condominium Act and changes to it
We also offer additional services which can be requested at a reasonable hourly charge. Click here to view and compare the complete listing of our optional services!