Beech Management's accounting department handles the many financial responsibilities of managing a property. Within this department are the functions of Accounts Receivable, Accounts Payable, Payroll and preparation of monthly financial statements. We have a system of checks and balances in place that provides an excellent trail for auditing purposes for all financial transactions.

BMC's financial reporting capabilities include general ledger listings, trial balances, balance sheet and a variety of operating statements including comparisons with the current year to last year, actual to budgeted, and current month to year to date. We can also provide cash flow statements and monthly analyses of variances.

We format our statements to your specifications and can make suggestions in grouping sections of the operating statement so you can clearly see categories of expenses. For example, you might want a grouping of payroll costs including payroll taxes and employee benefits as well as wages subtotaled to give you a complete picture of these costs. There are several options and we would consult with you on what you want us to provide. A company of our size can provide this level of customization, whereas, a larger company might not be as flexible

A variety of reports are available within the receivable and payable function. Included are receivable reports showing monthly charges, security deposit balances, amounts due and prepaid balances including rents, fees, security and other deposits, etc. Internal reports are generated for cash receipts and disbursements listing all transactions resulting in cash flowing in and out. On the payable side are reports of all expenses incurred during the month including name of vendor, amount of expense, and payment terms. Cash disbursement reports during the month show who was paid and a reference to the invoice paid from. Other reports can be run as needed. Examples of these reports would be, a payment history for individual residents, year to date payments made to particular vendors, and cash flow activity.
Another of BMC's services is preparing pro-forma statements using our spreadsheet and forecasting skills. If you want to see the effects of a monthly fee increase, versus a one time assessment, we can annualize that for you based on anticipated expenses and interest rates. These pro formas are invaluable planning tools for budget adjustments from year to year.