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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