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)