Bookkeeping Services

Bookkeeping Services

  • Monthly Reports
    • Detailed Management Report
    • Balance Sheet
    • Income and Expense Statement
    • Budget Performance
    • Collection Report
    • Check Book register
    • Bank Account Reconciliation
  • Collections
  • Bank Accounts
  • Account Signatures
  • Check Writing
  • Deposits
  • Disbursements
  • Emergency Disbursements
  • Assist in Audit/Income Tax Preparation
  • Budget Preparation
  • Reserve Accounts
  • Advancement of Funds

Record Retention

  • Records Retained
  • Owners right to inspect records
  • Copying Cost
  • Membership List/Transfer of Ownership

Record Keeping and Reporting

  • Make maximum use of automation and electronic means to perform Bookkeeping functions to include electronic bill payments, automatic payment of assessments (ACH), online payment capability, etc.
  • Utilize professional commercial Bookkeeping software.
  • Prepare, review and distribute reports to the Board of Directors via email summarizing that period’s income and expenses as itemized in the budget.
  • Maintain the Association’s bookkeeping records in a manner that will assist in preparation of an Annual Audit and appropriate tax returns.
  • Process payment of all of the Association’s bills in HOA Managements Knoxville Office.


  • Assist the Board of Directors in creating the Association’s Annual Operating Budget based on past history and all known projected expenditures.
  • Assist in the calculation of reserve allocation for future needs
  • Prepare an annual letter to all homeowners reflecting the adopted Budget.
  • Advise the Board during the year regarding the Association’s performance pertaining to Budget plans and make recommendations for corrective action.


  • Collect monthly/quarterly/annual assessments and any special assessments from each owner
  • All owner assessments collected through electronic means including automatic bank withdrawal/payment via ACH or online payments through the Association web page by electronic check or credit card
  • Assist Board of Directors in creating policy for late payment penalties, collection procedures, and ultimately determine necessary liens and foreclosures.
  • Perform late assessment policy and if need be, turn over all lien and foreclosure matters to Association’s legal council for final collection