Our accounting functions are overseen and undertaken by a Chartered Accountant.
Utilising state of the art accounting software, our financial governance and reporting is second to none. With the peace of mind that a licensed professional is overseeing your body corporates financial affairs and easy access to the financial information for your elected committee members, you can rest easy knowing your financial accounts are in good hands.
Our accounting services cover:
Accounting: At CBCS we utilise an online accounting package for managing the financial affairs of the Body Corporates and properties. The package we use provides “read only” online access to committee members and accurate reporting on outstanding levies.
Reporting: Within our periodic financial reports, we provide information and commentary on the key items of expenditure. We also provide updates as to whether the budget is still appropriate for the year ahead (and beyond, which allows owners to better budget for any potential levy changes).
We also provide commentary on movements across the balance sheet, particularly with regards to maintenance provisions and any outstanding levies.
Invoicing: The invoicing functionality of our system is extremely strong, allowing us to provide itemised invoices on a reoccurring basis. By setting up the invoices on a repeating basis, it means invoices are generated automatically by the system based on key criteria. We can setup repeating invoices to be generated on the cycle required (IE: monthly, quarterly, six monthly or annually).
Receipting: Receipting or acknowledgement of payment for levies is undertaken by providing a copy of the invoices (with the payment applied) or an updated statement showing the payments made.
Statements: We produce statements on request and when required. The statements provide a breakdown of the invoices issued, confirmation of payment and date of payments.
Debt Collection: We understand that at times unit owners may encounter issues with collecting body corporate levies. We maintain a register of owners and their levy payments are Page 6 of 8 reconciled in accordance with the fixed date the body corporate has set for levy collection. We monitor levy payments and take steps to recover levies when required and with the Chair and Committee’s guidance and instructions.
If the normal course of levy collection becomes exhausted, our team are experts in levy recovery from the Tenancy Tribunal and Civil Collection processes.
User Access: We provide our Chairperson’s and Committee members “read-only” access to the accounts with the ability to review detailed transactional information. We will provide training to the Chairperson’s and Committee members should they require our assistance.