Homeowner Association Accounting
First Nationwide Accounting Services has extensive experience in providing accounting and bookkeeping services to homeowner associations and property management companies that manage associations. Whether a homeowner association is large or small, we provide first rate accounting, tax return preparation and payroll services to our clients. We offer services throughout the United States.
Homeowner Association Financial Reporting:
Monthly and annual financial reporting is made easy. First Nationwide Accounting Services facilitates the CPA annual review process and reduces the time requirements. Standard reports include – Balance Sheet, Income and Expense Statement, Budget vs Actual Comparison Statment, Actual Income and Expenses spread across 12 months, Aged Delinquencies Report, Check Register, Bank Statement Reconciliations, and General Ledger. These reports are clear, easy to read, and provide all the tools necessary for an association’s board of directors to fulfill its fiduciary responsibilities.
Monthly Billing and Accounts Receivable:
First Nationwide Accounting Services provides clear and timely information to the directors and managing agents of homeowner associations so they can more easily manage the business of their associations. Statements are provided notifying owners of their account balances and the payment status of their assessments. Since associations cannot operate without prompt payment of assessments by the homeowners, delinquent assessments are efficiently addressed so collection efforts can be made. Accounts receivable are reduced through timely monthly homeowner billing statements, convenient direct debit “Auto Draft” service to owners, interfaces with collection agencies, on demand balance inquiries and late letters sent to homeowners with detailed payment history reports.
Auto Draft/Pay – Direct Debit:
We provide members of associations with several ways to pay their monthly assessments. First Nationwide offers a convenient process to electronically debit monthly assessments directly from personal bank accounts. Our sophisticated automatic payment system collects the exact balance due and is automatically cancelled when the property is transferred.
Accounts Payable Services:
We scan all invoices, store them digitally and provide instant access to all invoice history. We have flexible AP process options and use convenient technology to provide property managers and board members a variety of control options, including direct on-line access to our AP system. We also offer an emergency payment service for situations requiring immediate payments. We comply with Federal and State reporting requirements by issuing IRS 1099s, IRS 1096 returns, Employment Development Department DE 542 and Board of Equalization Use Tax Returns.
Call us with any questions.