Financial reports are prepared monthly and include, but are not limited to the following:
Accounts Payable: Record invoices and prepare checks from appropriate account item.
Accounts Receivable: Bill, collect and deposit maintenance assessments and other charges.
Budgets : Prepare preliminary budgets for the Board of Directors’ review and coordinate with Association’s CPA the budget meeting as per Governing Documents.
Delinquent Accounts: Provide monthly delinquent report to Board of Directors.
Demand Letters: Mail demand letters to owners past due on their accounts as per Governing Documents or at Board of Directors’ decision. Then forward information to Association’s legal counsel.
Financial Statements: Prepare monthly/quarterly financial statements including Balance Sheet, Income/Expense Statement, General Ledger Detail, Trial Balance, Accounts Receivable Report, Aged Report, Bank Reconciliation and Bank Statements.
Income Taxes: Epic Management Solutions will provide to and coordinate with the Association’s CPA in the filing of the Association’s State and Federal income taxes.
Liens: Provide to the Association’s Attorney documentation to ensure proper filing of liens, monitor on a monthly basis accounts held by legal counsel. All delinquent accounts are flagged in order to ensure that the legal process is uninterrupted.
Lockbox Processing payment Facility
Payment options: check, ACH/direct debit, credit card, e-check, Electronic on-site deposit
Reserve Transfers: Make monthly transfer into Reserve Account.
Special Assessments: Coordinate, bill, collect, monitor and account properly any Special Assessments that the Association may have throughout the year.
Year- End Financial Statements: Facilitate to the Association’s independent CPA documents a personnel to complete the required type of financial statement.
Services
