In any organisation, regardless of big or small, the concept of a separate entity and accountability must be in place, or appear to be in place, when outsiders ( investors, or regulators) look into your operations. People from outside do not know the details of your operation and they will make a general remarks that…
Your vendors will send their invoice(s) to your MA, so will your banker, sending your monthly bank statement to your MA. Question : What happened when you change your MA? Answer 1 : Your new MA will have to inform all your vendors and banker a change of mailing address. Informing your vendors are much…
Assuming the Management Committee (MC) agreed to change the current Managing Agent (MA). The handing over process are the physical items, pending tasks, follow ups etc. However, most often then not… a lot of information is not documented and transparent, and someone will drop the ball and another will have to attempt to pick it…
Managing agent (MA) as the word described, manages the contractors that provide the product and services to the condominium or commercial buildings, may it be security, landscaping, electrical team, you name it. Accounting functions, incidentally falls on the managing agent where they have to keep it in-house and manage a team of accounts staff, when…
How many vendors are submitting their monthly claims to your accounts payables and how long you are spending your time to record each invoice repeatedly of the same amount but only the invoice number and date of invoice is the change? We had created a vendor login page whereby the appointed contract vendor can login…
To all management committee (MC) , Many a times, when a new Managing Agent (MA) is appointed, the accounts will be managed and input by the accounts department of the MA. If for any reasons the MA is to be replaced, the handover of accounts will be carried out and the new MA will have…
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