Financial Services

Plaza provides its clients full service accounting using trained in-house accounting and bookkeeping staff using "state-of-the-art" IBM RISC 6000 UNIX Operating System and Multifacet Windows based property management software. Since 1970 the Plaza Team has become acutely aware of the financial needs of each association and provides timely, accurate and informative financial statements. Providing an accurate financial picture at all times is vital.

Accounts Receivable

• Monthly billing of common charges.
• Daily deposits into a segregated secured Association account.
• Accounts updated daily.
• Assess late payment charges as per Association policy.
• Generate delinquent notices and personal contact with all delinquent owners.
• Coordinate with the Association's attorney on all collection proceedings.
• Collect all funds due the Association such as parking income, garbage reimbursements, etc.

Accounts Payable

• Pay all bills following verification of work performed to specifications, supplies received in the condition and quantity ordered to the satisfaction of the Association.
• All checks signed by executives of Plaza who are fully bonded as per State of Connecticut Statutes.
• Every transaction recorded on the Financial Ledger and reconciled with the Association's account. All reconciliation is performed by Plaza's in-house Accounting Team.
• Issue payroll for Association employees through Plaza's mainframe.

Reporting and Retention

• Maintains daily journal of all income and expenses.
• General ledgers prepared according to standard practice and generally accepted accounting principles.
• Records all payroll information and prepares all documents and government filings.
• Deliver to the President and Treasurer of the Association monthly summaries of all receipts, disbursements, accounts receivable and accounts payable on the 15th of each month.
• Prepare Annual Budget for Association approval.
• Retain all records and documents as are legally required.