Financial Administration
Financial administration you can hand to an auditor
Trust accounting, budgeting, arrears management and monthly reporting produced on a fixed cycle.
Overview
One reporting cycle, every month, without exception
Management accounts close within five working days of month end. Every scheme has its own trust account, reconciled to the cent, and the year-end pack is delivered to the auditor with supporting schedules already attached.
- Separate, reconciled trust account per scheme or portfolio.
- Management accounts, budget variance and cash flow issued monthly.
- Arrears escalated on a published timetable with attorney handover defined.
- Year-end pack delivered to the auditor with full supporting schedules.
What we deliver
Scope of service
01
Trust accounting
Segregated accounts, daily reconciliation and controlled payment release.
02
Budgeting
Annual operating and reserve budgets prepared with the trustees or board.
03
Management accounts
Income, expenditure and variance reporting within five days of month end.
04
Arrears control
Age analysis, escalation letters, payment arrangements and legal handover.
05
Creditor management
Invoice verification, approval workflow and scheduled payment runs.
06
Audit preparation
Year-end pack, schedules and auditor liaison through to signature.
How it works
A disciplined, transparent process
- 01
Budget
Operating and reserve budgets built and approved before the year opens.
- 02
Collect
Levies billed, collected and allocated with daily reconciliation.
- 03
Report
Management accounts and variance analysis issued monthly.
- 04
Audit
Year-end pack prepared and the audit taken to signature.
Answers
Frequently asked questions
01Can trustees see the bank account?
Yes. Trustees receive read-only access to the scheme's trust account and the monthly reconciliation.
02Who releases payments?
Payments follow a dual-authorisation workflow inside agreed mandate limits. Anything above the limit needs written trustee approval.
Tighten up the finances
Request a proposal covering trust accounting, budgeting and monthly reporting.