UNCOMMON SERVICE BY DESIGN

Uncommon Service by Design
Ph: 925.901.0225
Fx: 925.901.0553

Accounting Services

The accounting department and procedures for Willis Management Group, Inc. have been designed and are routinely reviewed by an MBA with 13+ years experience in residential and commercial association accounting and management.

Financial Statements – All monthly financial reports conform to Generally Accepted Accounting Principles (GAAP) and are available for review on-line through secure passwords provided to those authorized to receive the data; typically, the Board of Directors. Statements are generally completed by the 15th of each month and include a balance sheet, budget comparison (income statement), cost centers, check register, full year general ledger, accounts receivable data (30, 60, 90, 120+ and accounts in collections), bank reconciliation and bank statements. Furthermore, the Managing Agent assigned to an account reviews and comments upon the balance sheet, bank accounts, investments, accounts receivable and budget comparison (income statement), and also provides the Board with recommendations or actions.

CPA and MBA Approved – CPA’s for our clients have verified and approved that the financial statements meet and/or exceed state regulations and client expectations. Furthermore, a team member with a MBA and 15+ years experience in residential and commercial association accounting reviews our operations and staff, our client balances and general ledger entries as well as other financial related matters on behalf of our clients at no additional charge.

Auditing and Consulting – Willis Management Group, Inc. retains financial consultants with MBA’s to review and randomly and routinely audit internal client financial operations looking out for the best interest of its clients.

Accounts Payable (AP) – Invoices are paid two (2) times a month during the 2nd and 4th week of of the month. Where applicable and approved by the Board of Directors, bills are through auto debit. Invoices are scanned into the Willis Management Group, Inc. proprietary bookkeeping system and Board members can view, approve and digitally sign checks. ‘Rush’ checks are typically not required, but if necessary, they are processed at no additional cost.

Accounts Receivable (AR) ‘Assessment Payments’ – All assessment payments are digitally tracked and processed daily either via a lockbox service or internally. Check images or other payments can be quickly and easily reviewed by our bookkeeping staff.

Operating and Reserve Accounts – Both accounts are insured by the FDIC or United States Treasure. Willis Management Group, Inc. also reviews the investment strategy of our clients helping maximize return on investments and availability of funds.

Assessment Payments and Processing – Assessments can be paid by check, bill-pay, ACH, certified check, cashiers, credit card or check.

Review and Taxes – Willis Management Group, Inc. knows exactly what is required by CPA’s to perform annual reviews and complete the taxes. We provide the necessary details for CPA’s to complete their work as quickly and efficiently as possible.

Reserve Study – A reserve study is not worth much unless the Association’s management company works closely with the reserve study expert and thoroughly understands the operations of its clients, accurately tracks income and expenses, utilizes cost centers and has a general understanding of the reserve components.

Accounting Only Services Provided – Accounting only services are provided to self-managed associations to include web portal features.