Accounting

  • Accounts Payable:  Receive invoices, verify, code and produce laser checks for Board signatures and mail same to Vendors.
  • Accounts Receivable:  Bill, collect and deposit all maintenance assessments, including late charges and interest penalties into Association’s operating account through our Lockbox System.  Make further deposits for miscellaneous income such as, clubhouse rentals, resales and rental application fees and lost keys, etc., and credit the proper accounts.
  • Budgets & Budget Meetings:  Formulate and prepare preliminary and final budgets for the Board of Directors’ review and coordinate the Budget Meeting.
  • Credit Card Payments:  APM has the ability to accept credit card payments at no additional cost to the association as an alternative to owner payment processing.
  • Delinquent Lists:  Provide to the Board an up-to-date delinquent list with the completed financial statement and also for the Board of Directors Meetings.  Additional delinquent lists can be secured at any time.
  • Demand Letters:  Send demand letters either at the direction of the Board of Directors or by Board Resolution for past due maintenance assessments or fines.
  • Financial Statements:  Prepare monthly/quarterly financial statements including Balance Sheet, Income/Expense Statement, General Ledger Detail, Trial Balance, Accounts Receivable Report and Aged Report.
  • Income Taxes:  APM will provide to and coordinate with the Association’s CPA in the filing of the Association’s State and Federal income taxes.
  • Late Letters:  Send late letters or reminder notices to delinquent Unit Owners according to the Association’s documents or by Board Resolution.
  • Liens:  Provide to the Association’s Attorney or Collection Agency all proper documentation, back-up and coordination in filing liens on behalf of the Association.  All Owner accounts are flagged in order to ensure that the collection process is complete.
  • Reserve Transfers:  Make automatic transfers from the Operating Account to the designated Reserve Bank Accounts upon the first of each month and properly account for same.
  • Review Audits:  Provide to the Association’s Auditor the complete facilities, record keeping, back-up and personnel to perform an Audit or Review of the Association’s Books according to the Association’s By-Laws.
  • Special Assessments:  Coordinate, bill, collect, monitor and account properly any Special Assessments that the Association may have throughout the year.