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Finance & Accounting Services

Ensuring Faster Processing of Invoices Seamlessly

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As the real estate industry continues to evolve and shift, property owners, real estate agencies, and REITs are trying to establish high-performing finance and accounting operations.

Notwithstanding the operating costs and competitive pressures, property managers, lease administrators, and finance teams are still required to manage their costs prudently while aligning their strategic activities with overall business objectives. However, given the scale of their operations and the associated complexities, finance teams are left constrained for time to focus on value-added activities, as they are under continually pressured to optimize noncore/transactional finance functions to contain cost and improve cash flow.

Outsourcing finance and accounting noncore functions can significantly improve cost efficiency and provide better control and visibility across these functions while boosting quality and service levels.

We help you reduce overhead and turnaround time, increase efficiency and in turn boost profitability.

Talk to us today!

Springbord Can Help Improve Bottom Line

Partner with us to run robust financial functions, as we cover your noncore finance and accounting processes while you concentrate on strategic and core business initiatives. By combining technology, people, processes, and in-depth real estate business knowledge, we deliver you efficient and custom accounting solutions. With our services backed by a robust governance system, you can ensure efficient, timely, transparent, and accurate flow of information across stakeholders.

Overview

We streamline invoicing, boost payable cycle efficiency, and reconcile and manage accounts payable in a timely fashion to ensure you avoid paying any interest or late fees. Using integrated property management software Yardi, we collect all relevant and accurate data to set up a new vendor account. Our weekly reports provide complete visibility, increasing transparency across the process.

Accounts Payable

  • Invoice processing in Payscan / Avid exchange
  • Weekly AP Reporting
  • Vendor Account Set Up and Onboarding in Yardi

Accounts Receivable

  • Credit Memo Processing
  • Weekly Aging Reporting
  • Recipt Processing
  • Other data and Information Management

General Ledger

  • Journal Entries on Accrual Basis
  • Prepayment Adjustments / Application
  • Reclassification of Entries
  • Adjusting Entries for Reversal or One Time Credit

Bank Reconciliation

  • Comparison of Bank Statements with Internal Transaction Entries
  • Analysis of Entries and Identification of Discrepancies / Errors
  • Income and Expense Reconciliation with Yardi Entries

Reporting and Analysis

  • Budget Variance
  • Recent Roll and Lease Expiration Notification
  • Income Statement
  • Ledger Analysis Report
  • Reclass entries and Lender Updates
  • Comparative Sales
  • AR and AP Aging

Why Outsource to Springbord?

A strong team of certified and experienced accountants and professionals, technology-driven data management processes, continuous process improvement, and flexible pricing models help us deliver incremental value to every engagement. By outsourcing your finance and accounting services to us, you can realize the following benefits.

  • Increased accounting effectiveness through well-managed and streamlined processes.
  • Consistent performance delivery through continuous improvements that help reduce cost and identify opportunities to enhance service efficiency.
  • Improved transparency and control with well-defined, monitored, and measured service levels and comprehensive management reporting.
  • Better scalability and agility with the ease of ramping resources up or down to handle seasonal surge in operational activities.
  • Reduced financial and noncompliance risk with streamlined support functions, accurate and updated general ledger, and timely and comprehensive reporting.
  • Bandwidth to focus on core and strategic initiatives; with us managing all your transactional accounting activities, you can better manage and enhance your core services to drive profitable business outcomes.

Find out how we can help you reduce overhead and turnaround times and ultimately generate more profit. Talk to us today!