"Accounting, Postings, Verifications and Reporting Done Right"
myHomeSpot.com hires experienced accountants whom have degrees in accounting. They provide each Board with clear and concise monthly financial information which meets the requirements of governing documents and the American Institute of Certified Public Accountants. Further, myHomeSpot.com membership to Community Association Institute and National Board of Competency for Community Association Management helps to guard against manipulation or fraud by separating accounting, collections and accounts payable functions.
In addition to monthly payables, receivables and financial reports, a system of checks and balances is in place. Payment is only made if invoices are verified and signed by the Community Manager and, in certain instances, the District Manager, too.
myHomeSpot.com's Virtual Association Management Software provides real-time board and member portals providing over 100 accounting reports; along with a Board’s A/P approval system, so you can easily approve invoices for payment online. Accounting services include:
- • Provide financial services customized for each community
- • Prepare comprehensive financial reports including balance sheets,
income statements, general ledgers, accounts payable, check
disbursements, and income and expense projections
- • Reconcile all accounts including checking, savings, money market, etc.
- • Prepare and distribute checks
- • Monitor investment funds and rollover dates
- • Manage accounts payable entry and processing
- • Record, code and preserve invoices
- • Conduct billing and collections of association assessments
- • Send delinquency notices and violation letters