The importance of correct and transparent service charge accounting cannot be overstated as part of a comprehensive management service.
We use the market-leading property management and service charge accounting software. Our property managers have easy access to work and maintenance orders, whilst our accounts team can quickly respond to service charge queries from leaseholders.
Barnard Cooks’ block management systems ensure that setting a budget for the year, charging leaseholders and paying invoices is as smooth a process as possible. Contractor invoices are uploaded and logged against the relevant service charge expenditure headings, payments are made via BACS upon authorisation by the property manager, and individual service charge balances are automatically updated when payments are received.
Our block managers and accounts team provide regular financial reports to our clients, providing transparency and an explanation of spending throughout the financial year.
At the end of the financial year reports are produced and we will administer the production of year end accounts and liaise with external auditors. These are approved by the client then distributed to leaseholders.
Bank statements and invoices are all held electronically and may be inspected by clients at any time.
In accordance with the RICS Service Charge Residential Management Code, Barnard Cook operate individual ring-fenced client accounts at Barclays Bank.
We use the market-leading property management and service charge accounting software. Our property managers have easy access to work and maintenance orders, whilst our accounts team can quickly respond to service charge queries from leaseholders.
Barnard Cooks’ block management systems ensure that setting a budget for the year, charging leaseholders and paying invoices is as smooth a process as possible. Contractor invoices are uploaded and logged against the relevant service charge expenditure headings, payments are made via BACS upon authorisation by the property manager, and individual service charge balances are automatically updated when payments are received.
Our block managers and accounts team provide regular financial reports to our clients, providing transparency and an explanation of spending throughout the financial year.
At the end of the financial year reports are produced and we will administer the production of year end accounts and liaise with external auditors. These are approved by the client then distributed to leaseholders.
Bank statements and invoices are all held electronically and may be inspected by clients at any time.
In accordance with the RICS Service Charge Residential Management Code, Barnard Cook operate individual ring-fenced client accounts at Barclays Bank.