Residential Properties

Accounts Payable

• Vendor/ Utility Payable
  • Batch Invoices – Creation of Invoice Batches as per the lot received to us
  • Direct Invoices – Posting of Invoices without creating batches
• Recurring Payables – Add – Edit/Post
  • Set up Recurring Payable for regular Contractual/Service Invoices
• Credit memo processing
• Vendor payments via EFT/Check
  • We can post payment transaction to complete the procedure of A/P, as directed by Client
• Vendor – Review – Reconciliation
  • Do Vendor Reconciliations on Weekly/Monthly Basis to check whether all Invoices are paid and everything is matching with vendor accounts
• Reports – All types of Payable Reports (Summary/Detailed)
  • Aging Detail
  • Check Summary
  • Check Detail

Tenant Accounting /Accounts Receivable

• Lease Set up – Add/Edit – Move in/Out Transaction
  • Create new Leases and Edit existing Leases as per given instructions/information
  • In case of Move in, post initial tenant transactions
  • In case of Move out, preparation of FAS & charge tenant for any amount owed
• Posting Rent Roll
• Posting Tenant’s Payment
• Posting NSF Checks
• If we received any check return from bank due to some reason, we can post check return transaction
• Reports – All kinds of Receivable Reports (Summary/Detailed)
• A/R – Reconciliation - Do Tenant Reconciliations on Monthly Basis to check whether all entries has been processed and nothing is outstanding

Property Accounting

• Journal Entries – Create – Edit/Post
  • Posting of Recurring Journals (Management fee, Property Taxes)
  • Posting of Month End Accruals
  • Posting of Banking Fees and any other adjustment entries
• Banking
  • Reconciliation – Operating/Security Deposit Accounts
  • Final Reconciliation Report
  • Inter Bank Transfer
• Drafting of Financial Statements for month end reporting
  • Accounting Reports (B/S, T/B, Budget Comparison with cash flow, GL)
  • Property Reports (Rent Roll, AGPR, Aged Receivable Report, Deposit Summary)
  • Accounts Payable Reports (Payable Aging Detail, Check Detail)
  • Management Reports

Property Accounting (Contd.)

• Loan Management
  • We can manage Mortgage/ Loans as per client requirements which includes: Principle, Interest, Escrow accounts, Payments. These are recurring JE Transactions and can be set up in Yardi. We can just change the amount and then post them in Yardi
• Preparation of Replacement Reserve
  • Prepare Replacement Reserve Disbursement form which are submitted to lender for the reimbursement of capital expenses and major repairs incurred
• Prepare 1099 Forms
  • Complete a Form 1099 for each covered transaction
• Set up Property – Unit Type – GL Account – Bank Account
• Save Recurring Transactions – For Future