We work with internal Property Managers to help produce budgets that are as accurate as possible. To do this we use comparisons of previous year’s budgets versus actual costs, we look at the current year’s actual expenditure versus budget on items such as cleaning & gardening maintenance contracts, window cleaning, lift maintenance, fire & health & safety, utilities, buildings insurances. Management fees and general ad-hoc maintenance.

We also consider contribution to reserves and budgeting for scheduled upcoming major works projects and ensure that we are preparing budgets in line with the lease.

We prepare year-end service charge accounts and work with external accountants/auditors to complete accounts that are signed and ready for issue to residents and directors. We can either access internal systems to generate the necessary reports to allow us to produce the accounts, or we can receive the reports from an internal point of contact. An Audit trail, trial balance, debtors & creditors report and a bank statement is usually all we need. From there we analyse and allocate costs, prepare accruals & prepayments, communicate with the property manager to resolve queries and finally submit the accounts to an external professional fir queries and signature.

We can also prepare letters that are sent out with the accounts to explain surplus or deficit, and advise on the correct treatment of any surplus balance.

We are able to review payment terms and if necessary, and suggest changes to the current process. Communicate with debtors, residents or directors via email, letter or telephone – we will make sure that invoices are paid within the given timeframes and if not, charges and interest are added in the correct way, in line with the lease.

 If invoices remain unpaid, we will pass them over to an external debt collection agency. Either agencies that you already work with, or ones of our own recommendation.

Often RMC accounts remain dormant due to no trading activity, so the job is an easy, but very important one. If accounts are not completed and filed at companies house within the correct timeframes, penalties can be issued.

There are occasions where there is activity during the year, administrative expenses, income, interest on bank balances etc. We make sure that all activity is accounted for and presented correctly before filing at companies house.

Do you need us to certify and sign the accounts too? No problem, our charatered accounts are able to prepare and sign off the accounts ready for issue to directors & leaseholders.

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