Accounting and Reporting
Selective Property Managements has one of the most robust and transparent accounting and reporting processes in the industry. We place great emphasis on our accounting capabilities and the importance of a solid accounting system.
Administration and Financial Management
We keep a complete log of all tenant, vendor, insurance, accounting and legal records.
We connect with our property owners on a regular basis and meet whenever necessary.
Perform all required accounting services, including accounts receivable, accounts payable, Security Deposit accounts, interest payments and others as needed. We create individualized financial reports tailored to the needs of our clients each month that include, but are not limited to, the following reports:
- Income Statement
- Accounts Receivable
- Balance Sheets
- Payable Summaries
- Check Register
- General Ledger
Propose options and analyze cash management requirements.
Provide regular financial and management analysis reports.
Suggest annual operating and capital budgets.
Year End Reporting
Selective Property Management CPAs ensure your compliance with all state and federal regulations and make sure that all required year-end tax filings are properly prepared.
Assist any accountant or auditor in performing the annual audit and federal income tax preparation.
Ensure that all operating, reserve and other accounts are properly set up, maintained, and reconciled. Selective Property Management works with your Association’s existing accounts to ensure complete financial transparency.
Collect monthly fees, assessments and other charges and maintain aggressive follow-up action on all unpaid fees or assessments. Oversee an automatic withdrawal program when available.
Keep accurate records of homeowner occupancy and receipts.
Approve time sheets, distribute payroll and prepare necessary tax reports.
Prepare annual operating budget for review and approval.
Approve and pay all invoices and provide copies of transactions upon request.