Accounting, Financial Services and Reporting

ACCOUNTING, FINANCIAL SERVICES AND REPORTING

Accurate and reliable accounting and reporting is vital to successfully maintaining your commercial property.

Not all accounting is created equal. Commercial real estate accounting, financial services and reporting requires extensive training and experience specific to the real estate industry.

Bob Gottsch of PMRE Management’s executive team is a seasoned CPA with over 20 years of experience in real estate related accounting. He has successfully tailored our financial reporting to rival the level of reporting utilized by public companies and the best national real estate firms in the country.

Southern California Commercial Real Estate Accounting and Financial Services Southern California Commercial Real Estate Accounting and Finance Southern California Commercial Property Management Accounting and Finance Services

Our Approach To Accounting And
Financial Reporting

We are able to produce timely, useful and accurate reports based on our clients needs. The PMRE Management team and accounting staff prepare a detailed zero-based budget for each project.

Our standard reporting package includes: a Balance Sheet, Income and Expense Statements, Cash Flow Operating Statements, 12 month and Rolling 12 Month Operating Statements, and Budget Comparison Reports. Our accounting group is flexible and is willing to provide additional reporting such as reporting requested or required by 3rd party lenders, brokers, etc.

Our primary accounting services include:

Accounts Receivable

We authorize billings and collect rents through our system functions

Accounts Payable

We authorize expenditures and approve invoicing before payments are made

2-Step Budget Process

We prepare detailed budgets through our 2-step process

Accounts Receivable

Our accounts receivable system functions include:

1. ABSTRACT LEASE

We summarize each lease with key information to easily review, input, and update.

2. INPUT INFORMATION

Information from the abstract is uploaded into the accounting system.

3. COLLECT MONEY

All monies are sent directly to a lockbox or collected in the office by an independent clerk.

4. COLLECT COPIES

Copies of all deposits and checks are collected and reviewed by our accountants.

5. HANDLE CASH

Cash receipts are posted.

6. GENERATE REPORTS

We run weekly receivable reports.

7. REVIEW ACTIVITY

We thoroughly review all billings and collections for each tenant.

Accounts Payable

Our accounts payable system functions include:

1. AUTHORIZE & APPROVE

All costs within budget are authorized and approved.

2. SEEK APPROVAL

Unbudgeted costs over a specified amount require additional approval.

3. CODE INVOICES

We code approved invoices with the appropriate account number and sent out for payment.

4. APPROVE & INPUT

Codes and invoices are approved and invoices are input for payment.

5. HANDLE CHECKS

Checks are approved and mailed.

6. OBTAIN SIGNATURES

Checks over a specified amount will require two signatures.

7. RUN CHECKS

Checks are run on Friday of each week.

2 Step Budget Process

Stage one of the budget process involves coordinating and gathering information from:

PROPERTY OWNER

Provides overall objectives of the project and specific instructions.

LEASING REPRESENTATIVE

Provides lease-up schedules, including projected rates and input as to capital improvements, amenities, etc.

PROPERTY MANAGEMENT TEAM

Provides projected tenant finish costs and major refurbishment costs.

MAINTENANCE STAFF

Provides input concerning repair and maintenance costs, general supply costs, contract costs, etc.

ADMINISTRATIVE ASSISTANTS

Provides input concerning office and administrative expenses.

ACCOUNTING

Provides rent rolls, operating recoveries, non-recoverable expenses, debt service, depreciation / amortization, etc.

CONTRACTORS & VENDORS

Provides input to changing costs of services and supplies.


Stage two of the budget process involves:

1

PREPARE BUDGET

The Property Manager prepares the budget and completes an analysis of the budget.

2

PRESENT BUDGET

The budget is presented to the Asset Manager and Controller for approval and revisions.

3

FINAL APPROVAL

The budget is presented to the Property Owner for review, revisions, and final approval.

4

UPLOAD

Budgets are prepared using an Excel spreadsheet model. Once approved the budget is uploaded to our accounting software.

Ready to increase the ROI on your commercial property?