Financial Reports – Are They Worthless?

July 27, 2022

Table of Contents

By the Accounting Team, Summerfield Management

In order for a financial report to be valuable, it needs to be thorough, accurate, and relevant.

A sharp haircut and a new business suit can boost your confidence, but an accurate report that lets you know your building is achieving your goals — that’ll allow you not to worry and focus that energy on better things.

Who doesn’t want to feel on top of their game?

Summerfield’s comprehensive standard financial report includes:

Summary Letter
Budget Comparison Report
YTD Monthly Profit and Loss Report for the current year
12-Month Statement for the prior year
Cash Flow Statement
Comparative Balance Sheet
Rent Roll
Security Deposit Activity Report
Accounts Receivable Aging
Bank Statement and Reconciliations
General Ledger
Payment Register
Cash Disbursements & Invoices

A comprehensive report might not be very entertaining to read, but it’s worth your time if it can provide you with the information you need to evaluate if your Management company is meeting your operations goals.

Do you need a custom report?

For the right client, we’ve been known to provide one. Let us know what you have in mind.

Book a call here to discuss.

Robert Parmar

Southeast Region

rparmar@smfield.com

770-920-3055

Trevor Manning

Northwest Region

tmanning@smfield.com

503-867-5214

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Summerfield specializes in the management of apartment properties that are approximately 125 units or larger, and is licensed to manage in Washington, Oregon, Idaho, Florida, Georgia, & South Carolina.

If you would like to discuss additional specifics of our management program, please reach out to our Managing Director, Robert Parmar at rparmar@smfield.com or call 770-628-5943.