Condo & HOA Accounting Services
Accounting Services for Self-Managed Condominiums and HOAs
Managing the finances of a condominium corporation requires accurate bookkeeping, clear financial reporting, and proper record keeping. We provide specialized accounting services tailored to the needs of self-managed condominium corporations and homeowners associations.
Bookkeeping & Financial Records
Recording all income and expenses
Operating, Reserve, Security Deposits, Investments Bank account reconciliations
Accounts payable and receivable tracking
General ledger maintenance
Monthly Financial Reporting
Balance Sheets
Income Statements (Budget Comparison)
Accounts Receivable Reports
Accounts Payable Reports
Bank Reconciliation Reports
Other financial reports as requested by the Board
Condominium Fee Calculations
Preparation of condominium fee increases based on unit factors
Annual contribution calculations
Budget allocation assistance
Owner contribution schedules
Fee increase worksheets for Board review
Budget Preparation & Planning
Annual operating budgets
Expense forecasting
Reserve fund contribution tracking
Reserve Fund Tracking
Reserve fund contribution monitoring
Capital project expense tracking
Reserve fund reporting
Year-End & Audit Support
Preparation of Accounting Records for the Auditor
Auditor coordination
Supporting documentation
Posting Auditor-Provided Adjusting Entries
Frequently Asked Questions
Can you work with self-managed condominium corporations?
Yes. Our services are specifically designed for self-managed condominium corporations and homeowner associations.
Can you prepare monthly financial statements?
Yes. We prepare monthly financial reports, including balance sheets, income statements, budget comparison reports, and accounts receivable, and accounts payable reports.
How often will we receive financial reports?
We provide ongoing monthly accounting support and prepare monthly financial reports for the Board, including balance sheets, income statements, budget comparison reports, and accounts receivable and accounts payable reports.
Why should our condominium corporation use a monthly accounting service?
Regular monthly accounting helps ensure accurate financial records, timely financial reporting, improved budget monitoring, and a smoother year-end audit process. It also allows the Board to make informed financial decisions throughout the year.
Do you perform audits?
No. We assist with the preparation of accounting records and support your external auditor but do not perform audits.
Why Choose Condo Quick Reports?
✔ Condominium Industry Experience Since 2015
✔ Specialized in Self-Managed Condominium Corporations
✔ Monthly Financial Reporting & Bookkeeping
✔ Reserve Fund & Operating Fund Accounting
✔ Audit Support & Year-End Assistance
✔ Alberta-Based Service
✔ Remote Support Available Throughout Alberta