Are you tired of spending your free time reconciling your books, but don’t want to spend a small fortune hiring an expensive full-time CFO or controller?  Basic Essentials is the choice for you!

Receivables Management

  • Generation of Assessment Charges
  • Post miscellaneous charges and adjustments to Homeowner Accounts
  • Late Fee and Interest Charges
  • Lock Box Payment Posting
  • Manual Payment Posting
  • eCheck & Credit Card Payment Posting
  • ACH Payment Posting
  • Returned Payment Posting
  • Refund Homeowner Payments/Credit Balances
  • Transfers of Ownership (Resale processing)

Payables Entry

  • Requires the use of Strong Room for Payables Processing
  • Payroll General Ledger Entries for Associations Payroll
  • Once per month Debit Card transaction entry

Monthly Financials

  • Daily Reconciliation of Bank Accounts for Partner Banks*
  • Monthly Financial Reports produced by the 5th business day of each month
  • Standardized Month End Financial Report Package
    • Balance Sheet (Operating and Reserve)
    • Income Statement (Operating and Reserve)
    • Aged Receivables
    • Aged Payables (for accrual accounting only)
    • Cash Disbursement Report
    • Bank Account Reconciliation Report
    • Bank Account Statements (Partner Banks only)

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