Accounting & Financial Reporting

 Our accounting and financial services include, but are not limited to

• Accounts Payable / Receivable
• Assessment Collection
• Enforcement of Delinquent Collection Policies
• Monthly Financial Statements
- Balance Sheet
- Profit/ Loss Statement with Budget Variance
- Detailed General Ledger
- Budget Variance Report
- Month-to-date Check Register
- Cash Disbursement Report
- Aged Receivable Report
• End-of-the-Year Financial Statements
• Budget Preparation
• Assist auditors during the year
• Annual Tax preparations
• Loan preparation
Assessment Collection
We use a bank lockbox system with highest security standards.  Payments are mailed directly to the lockbox and deposited to the Association's checking account the same day.  Late payment letters are automatically generated each month to ensure prompt collection of all HOA dues.
Annual Budget Preparation
Each year, Elite Property Management provides a detailed and thorough draft budget 90-60 days before the end of the fiscal year, which greatly reduces the amount of time the Board and the Treasurer spend on budget preparation.  Each month, as part of the monthly financial report, the Board can see a year-to-date snapshot of how the actual spending tracks against the budget.