Accounts Payable and Billing process for Condo and Homeowner Associations

• All your bills will be scanned and will be available to you electronically for easy access.
• We will make sure all your bills are paid with your written approval and will be correctly coded to your books.
• Every month end, you will be provided with an aging payables report so you can review all your outstanding bills and plan accordingly.
• We will keep track of all payments for contract labor and will request the necessary information from all subcontractors for the year end process.
• We will be processing all the 1099s and 1096s and submitting them to the IRS.

Payroll Processing for Condo and Homeowner Associations

• Processing of payroll for employees as often as you need (weekly, biweekly, or monthly)
• Will take care of all garnishments, federal taxes, and other miscellaneous deductions for the association employees
• We will process federal tax deposits either weekly or monthly, whichever applies
• Will process quarterly payroll taxes which includes preparation of 941s, RT-6 and 940s

Monthly Billing and Accounts Receivable for Condo and Homeowner Associations

The association cannot operate without the prompt maintenance payment of its residents.  We therefore, provide the following services:

• Monthly or quarterly statements are provided to all residents to notify them of their account balance and due date.
• We will provide with two ways the residents can submit their monthly payment to the association.  One will be thru regular mail, and another one will be autopay (direct debit) from the resident’s bank account.
• We will process the deposits and provide the association with copies of checks received from residents for information purposes.

Homeowner and Condo Association Financial Reporting

The association will be constantly communicating with our team for any questions that might arise.  We will provide reporting on a monthly and annual basis.

• Balance Sheet by Operating and Reserve fund
• Operating Income and Expenses to Budget
• Aged Receivables
• Aged Payables
• Check Register Report
• Bank Statement Reconciliations
• General Ledger

Year End Processing for Condo and HOA Associations

• Quarterly tax deposits to the IRS to go against the estimated income tax <br>to be paid at year end.

• Preparation of 1120H for the IRS.
• Preparation of W2s and W3 for employees
• Preparation of 1099s and 1096 for subcontractors

Budgets and Forecast Preparation for Condo and Homeowner Associations

We will review your annual activities and will prepare budgets for the following year discussing with the board of directors planned expenses or any other events that might have an impact on the association financials.