• Financial Services

  • Maintaining complete, accurate, and timely association financials is a cornerstone of our firm. We produce all the necessary financial information your association will need to make sound management decisions.

    Assessment Statements/Coupons

    • Association can choose to mail periodic statements or annual coupon books.


    Accounts Receivable

    • Association funds are in a separate account under the Association’s name.
    • Receivables can be processed via several payment methods:
      • mail via check sent directly to a bank lock box system
      • electronically via electronic bill pay
      • electronically via scheduled Auto Draft Payment
      • online via Electronic Check
      • online via Credit Card Payment
      • in person at one of our offices via our in-house check scanning system
      • Assessment payments are deposited into an operating account at Alliance Association Financial Services.
      • Checks are encoded with the Association’s information at the time the check is processed
      • Receivables are downloaded daily directly to the association’s financial records from the bank.
      • Assessments are posted to individual accounts, reflecting late charges, fines, and legal fees.
      • Collections on delinquent accounts are worked in conjunction with the Association Attorney, per the Association Collection Policy.

    Accounts Payable

    • Expenses are monitored for cash flow relative to the Operating Budget.
    • Disbursements are prepared for the Association with invoice attached.
    • Disbursements are coded to the specific line item of the operating budget.
    • Payments are issued once approved by Manager and/or appointed Board Member(s).
    • Payments are either printed on checks with required signatures or sent electronically via ACH.
    • Board has electronic access to images of all invoices and payments.


    Report Packet

    Your Manager will provide all Board Members a report packet, either electronic or printed, including any or all of the following:

    • Agenda
    • Previous Meeting Minutes
    • Manager’s Report
    • Delinquency Dashboard
    • Work Order Status Report
    • Violations Status Report
    • Budget to Actual Expense Report
    • Special Project Report, if applicable
    • Accounts Receivable Report
    • Check Register
    • Accounts Payable Report
    • Prior Month’s Bank Statement
    • Bank Account Reconciliation
    • Profit/Loss Statement
    • Balance Sheet Report
    • Detailed General Ledger Report
    • Statement of Cash Flows


    Budget Preparation

    • Prepare operating budget.
    • Prepare reserve funding budget.
    • Mail budget packet to homeowners.
    • Schedule Budget Meeting.
    • Obtain budget approval from Board.
    • Enter budget into accounting system.
    • Modify assessments.
    • Order coupons as necessary.


    Annual Audit

    • Assist with annual audits, compilations, or reviews performed by an outside auditing firm selected by the Board of Directors.
    • Provide information to the Association’s auditing firm for proper and punctual filing of annual reports.


    Tax Reporting

    • Furnish information for payment of all federal, state, local and other taxes or fees that are required in the operation of the Association and as may be prepared by the Association’s tax preparation firm.