Accounting & Reporting

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.

Portal

Owners have the ability to create their own personal portals to make electronic payments, review their personal account with the Association, review Association financial reports, make maintenance requests, etc.

Financial Reporting

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

Capital Planning

Propose options and analyze cash management requirements.

Monthly Reporting

Provide regular financial and management analysis reports.

Budget Planning

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.

Audit

Assist any accountant or auditor in performing the annual audit and federal income tax preparation.

Bank Accounts

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.

Collections

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.

Resident Ledgers

Keep accurate records of homeowner occupancy and receipts.

Payroll

Approve time sheets, distribute payroll and prepare necessary tax reports.

Budget

Prepare annual operating budget for review and approval.

Invoices

Approve and pay all invoices and provide copies of transactions upon request.