Home Owners Associations

BOOKKEEPING: HOA Accounting

Accounts Receivable:

  • Receive monthly fees – a monthly automatic withdrawal is available if required
  • Follow-up of delinquent accounts – including 30 & 90 day notices
  • Prepare and initiate subsequent legal proceedings, as required

Accounts Payable:

  • Cheques for payment of invoices – board signature approval required
  • Government remittance submitted as required
  • Maintain operating and reserve fund bank accounts as well as reserve fund investments
  • Prepare records for annual audit
  • Monthly financial reporting

Administrative:

  • Prepare annual draft operating budget for HOA board approval
  • Prepare and distribute annual assessment notices and approved budget to all homeowners
  • Provide requested documents in accordance with SOCIETIES ACT
  • Prepare and distribute AGM notice; Attend of AGM
  • G.S.T. filings as required

Miscellaneous:

  • Project Management: Time and Disbursements