At FirstService Residential Pennsylvania, the continued health and stability of your association’s financial matters is one of our top priorities. For more than two decades, we have expertly handled the finances of hundreds of associations throughout Pennsylvania, so you can be sure your association’s fiscal matters are in expert hands. We manage every fiscal and budgetary transaction professionally and accurately, with the same high levels of quality, service and attention to detail that have made us the property management leader.
FirstService Residential Pennsylvania’s experienced financial and accounting professionals provide tailored services that help your association avoid cash flow surprises, plan capital improvements and prepare for market changes. In addition, our meticulous checks and balances system provides an additional layer of protection.
For added peace of mind, we provide the following assurances and services:
- Comprehensive financial packages are delivered in a timely manner – and always in time for your Board meetings
- All of your association’s financial information is available to authorized users 24/7, from any location, through a secure, password-protected program
- Multiple payment options are available to help reduce delinquencies and improve cash flow
- CPA access is provided as needed, helping to reduce your association’s auditing fees
- Your assigned accountant is available to your Board and Treasurer to answer questions and conduct periodic financial reviews
- As part of FirstService Corporation, a publicly held company (NASDAQ: FSRV; TSX: FSV) we are held to the highest standards of transparency, security and accountability and subject to Sarbanes-Oxley requirements
Timely and accurate reporting of your associations’ financial matters is critical to making sure your Board stays on budget. Our accounting professionals prepare your balance sheet, income and expense statements, manage your accounts payable and receivables, general ledger, deposit and check history. They also prepare a comprehensive monthly financial status report for your Board to keep you updated on your community’s financial status at all times.
It can often be a challenge to make sure that maintenance fees are in line with your association’s economic needs, while taking into account the need to maintain or improve your community’s overall aesthetics. Our team leverages its combined financial, accounting and property management expertise to successfully balance these needs. As part of this process, they prepare draft budgets for Board review, including a 12-month history of expenses incurred and previous expenses for comparison.
Annual Audit & Tax Preparation
Our financial and accounting professionals prepare all documents necessary for annual third-party CPA audits and tax preparation. We also enable Board-hired attorneys and CPAs to access relevant documents through our FirstService Residential Connect software platform, which significantly reduces time and preparation costs for your association.
Our association accounting services include:
- Monthly financial statement package (statements also available online)
- Preparation of balance sheets, income statements, bank reconciliations, support schedules
- Processing of payments via a licensed and insured lockbox facility
- Flexible banking options and fidelity bonds
- Multiple payment options: check, ACH/direct debit, credit card, e-check, etc.
- Electronic scanning of vendor invoices and computerized check preparation
- Board members can review and sign checks online
- Annual budget preparation and processing
- Year-end financial packages provided online for independent auditors
- CPA-supervised dedicated accounting team
- Turnkey collections services
Learn more about how FirstService Residential Pennsylvania’s unique value-added financial and accounting services can benefit your association.
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