Accounting for Associations

Associations turn to a Certified Public Accountant for the same reasons they turn to attorneys and other professionals: independent professional representation. Through a direct relationship with a Certified Public Accountant, an association can maintain long term stability in the most sensitive of areas.

We offer many services to our association clients:


Bookkeeping

One of the most important responsibilities of a Board of Directors is the sound financial stewardship of the association. Using the services of a Certified Public Accountant to provide bookkeeping services for your association provides the separation of responsibilities which improves internal control and financial stability.

We are not property managers. We account for the money and we answer to the Board of Directors.

Transition problems during management change are avoided.

We provide ongoing continuing education to our staff to keep them up to date with the most current developments in the industry.

Our bookkeeping service are divided into two groups:

  • Bookkeeping provided at client office by client personnel
  • Bookkeeping provided through our firm personnel

Bookkeeping provided at client office by client personnel

We supervise the client bookkeeping personnel which handle the day to day activities for the association. We close the monthly accounting records and prepare the monthly financial reports.


Bookkeeping provided through our firm personnel

Through our in-house staff we provide association services for:

  • Maintenance Assessment Payment Coupon Preparation
  • Collect maintenance fee payments
  • Delinquency follow-up – bilingual collection letters
  • Customer service for homeowner calls
  • Remit collection files to attorney for lien
  • Vendor bill payment
  • Payroll accounting for on-site personnel
  • Monthly Financial statement preparation
  • Annual budget preparation
  • Aid outside auditor

Our internet based information system provides information 24 hours a day to the:

  • Owner

    • Statement of account
  • Property manager

    • Rosters
    • Statement of account for each owner
    • Notes to owner file
    • Financial statements
  • Board of Directors

    • Rosters
    • Statement of account for each owner
    • Notes to owner file
    • Financial statements
  • Attorney

    • Statement of accounts for each unit in collection

Audits, Reviews and Compilations

Our firm specializes in providing audits, reviews and compilations for condominiums and homeowner association pursuant to the Florida statute requirements. Compilations are required for associations who’s revenues range between $150,000 and $300,000, reviews are required for association’s who’s revenues range between $300,000 and $500,000. Audits are required for associations with revenues which exceed $500,000.


Developer Turnover Audits

Preparation of the audit required by Florida Statutes at the time of turnover of control from the developer to the owners (turnover audit) to reviewing the turnover audit provided by the developer on behalf of the association, we have the knowledge and experience to provide superior results for our clients.


Budget Preparation

Through a review of the association’s financial reports, we can prepare proposed budgets which the Board of Directors can present to the community. The budget will include all required provisions and categories by the State of Florida. We can meet with the management, Board of Directors and attend the budget meeting to present the budget to the owners.


Reserve Study Preparation

Through the use of an independent engineer, we develop information to estimate the reserves needed by the association under the requirements established by State of Florida statues 718 and 720. We then use our knowledge of the industry and the association’s financial condition to prepare options for the Board of Directors.

13358 SouthWest 128th Street Miami, Florida 33186
Main Office: 305.253.2000 / Facsimile: 305.253.0832