Scalzo Property Management, Inc.’s dedicated accounting staff and services provide the analytical tools needed to maintain a financially stable property. The integration of billings and receivables is managed daily. All approved Vendors email invoices to a centralized location based on the property’s requirements. Customized reports are populated with real-time data, creating high-level financials, which allows Board Members to make timely business decisions.
-Budget to Actual: Month to Date & Year to Date
-Commercial Rent Roll
-Accounts Receivable Aging-Accounts Payable Paid
-General Ledger Detail: Month to Date
-Bank Reconciliations with copies of all Bank Statements
Property budgets are created in conjunction with Owners and are presented annually. Income is based on lease rental increases. Expenses are based on current year’s activity projected and potential improvements. The Annual Budget is then imported for monthly comparison to the actual expenses. If the property requires accrued accounting opposed to cash, our staff generates schedules that are included in the monthly financials for balancing and tracking purposes. Once approved, letters are generated and mailed to Tenants.
Online Invoice Approval
Vendors can email invoices for immediate upload which pend approval based on Accounts Payable and signers. Checks are distributed daily. Disbursement of all accounts payable remain within budget guidelines.
Scalzo Property Management’s Controller coordinates with each Property’s CPA to prepare tax returns and audited financials, if required. Scalzo Property Management’s Accountants prepare annual 1099’s. Common Area Maintenance (CAM) reconciliations are also prepared and presented to Owners.
Dedicated staff manage the day to day collection and deposit of all rent, and other fees, if applicable. Delinquencies are reviewed with Managers and Owners. Follow-up with Tenants is via mail and email with statements, letters, and coordination with legal counsel.