Neville’s management team provides accounting services to individual, corporate and institutional portfolios; with institutional accounting requirements by far the most stringent.
Problem: In 2008 Neville took over management of three Class A office buildings from another firm. The institutional owner and the asset manager stressed that the financial reporting issues had not been successfully handled in the past and that we could not drop the ball. With each building having three operating accounts and three escrow accounts, (eighteen accounts in total – income, operating expenses, security deposit, capital/TI reserve, insurance and taxes), the need to both consolidate and separately account for all operations, and dozens of monthly back office transfers and journal entries; a mere bookkeeper would have been up the river without a paddle.
Solution: Neville’s Treasurer, Michelle Lincoln, took personal control of the account for the first several months, assuring the balance sheet launched correctly, the wire transfers were accurate and secure, and the asset manager was getting the level of care he expected. To this day, Michelle and her team handle complex and creative aspects of this account, and many others, to assure every penny ties out every month.
While the accounting is often taken for granted, the moment there is an error a management firm’s reputation is badly discredited. Check around – Neville’s reputation speaks for itself.