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ACCOUNTING & BOOKKEEPING

A property management company that provides accounting and bookkeeping services plays a crucial role in the efficient and profitable management of properties. Here's a detailed description of the day-to-day operations of such a company:

Accounts Payable:

Managing and recording all expenses related to property maintenance, repairs, utilities, and other bills. Invoices are reviewed, approved, and paid in a timely manner.

Budget Preparation:

Preparing annual budgets for each property, considering factors like expected income, operating expenses, and capital improvement projects.

Tenant Statements:

Sending monthly or periodic statements to tenants, summarizing rent charges, payments, and any outstanding balances

Bank Reconciliation:

Regularly reconciling bank statements to ensure all financial transactions are accurately recorded. Discrepancies or errors are identified and resolved.

Budget Preparation:

Preparing annual budgets for each property, considering factors like expected income, operating expenses, and capital improvement projects.

Owner Statements:

Providing property owners with detailed financial statements, often on a monthly or quarterly basis. These statements include income and expense summaries.

Record Keeping:

Maintaining meticulous financial records, including ledgers, balance sheets, and income statements, is essential for tracking the financial health of each property.

Financial Analysis:

Conducting regular financial analyses to identify trends and performance indicators. This helps property owners make informed decisions.

Tax Preparation:

Ensuring that all necessary tax documents, such as 1099s for vendors and owners, are prepared accurately and filed in a timely manner

Why Choose Prestigious for Accouting Services:

  • Expertise:

    Our team comprises seasoned financial professionals with a deep understanding of the real estate market in

  • Technology Integration:

    We leverage cutting-edge property management software to enhance accuracy, efficiency, and transparency in financial operations.

  • Customized Solutions:

    Recognizing that every property is unique, we tailor our financial management services to align with your specific goals and preferences.

  • Client-Centric Approach:

    Your success is our priority. We maintain open lines of communication, ensuring you're well-informed and confident in the financial health of your properties.

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