Financial Accounting Services

The primary goal of our Financial Accounting Services is to act as your “financial controller” in your villa. For this reason we do not mix the Property Management with the Financial Accounting. Both are performed by different individuals with different levels of authority with respect to the villa and how funds are spent and accounted for.

Our Financial Accounting Services are provided by trained accounting personnel intimately familiar with generally accepted accounting practices, rules and policies. Your Controller is responsible for the management of expenses and funds for your villa. As such, the Controller will define certain policies and procedures necessary for the financially accountable operation of the villa.

For example, the Controller will put in place a purchase order system in the villa to provide the control mechanism for villa purchases, services or products. The purchase order system will make it extremely difficult, if not impossible, for purchases to be made in the name of the villa that are not actually used for the villa.

These and other accounting policies will be documented, communicated and discussed with you prior to their implementation. Once implemented, however, your Controller will have the authority to manage them to ensure compliance for accurate reporting and controls.

The necessity of consistent and accurate reporting of incomes, expenses, liabilities and assets of a villa are no different than those of a boutique hotel business. To that end, we will prepare and issue periodic reports based on the performance of the villa.

• We will pay local service and product providers from your local operating bank account;
• We will track, account for and report on all customer payments;
• We use Intuit Quicken and can provide export files on a monthly or quarterly basis;
• We will create a suitable Chart of Accounts against which the accounts will be posted and balanced;
• We will help you create a budget and maintain the budget for you;
• We create and maintain a comprehensive Accounts Payable and Accounts Receivable system;
• We provide monthly and quarterly management level reports;
• We will provide the basic tax preparation of all accounts in preparation for your tax accountant;
• We will coordinate our book of accounts for your villa with your Dominican or American accountant;
• We will maintain, balance and report on your local villa operating bank account;
• …more!