Call for Assistance: 02033 259 341
Spondoo Accounting
Call for Assistance: 02033 259 341
Spondoo Accounting

Understanding the Scope of Our Right to Manage Accounting & Bookkeeping Service

November 10, 2023

Overview of Our Right to Manage Accounting & Bookkeeping Service:

Our Right to Manage Accounting & Bookkeeping Service is designed to ensure compliance and efficient financial management for members of the RTM (Right to Manage). Below, we provide a comprehensive overview of the services included in this offering:

Compliance Focus1. Preparation of Annual Budget

This would involve us calculating the annual service charge each year and preparing a budget by consolidation these figures and incorporating any feedback or comments from you or the appointed representative. Should you require a meeting with all owners or direct communication with them, kindly inform us, allowing for necessary adjustments to the quotation.

2. Preparation of Annual Service Charge Demand

Aligned with the approved budgets, we prepare the annual service charge demand amount, providing a central point of contact for collection and distribution to members.

3. Preparation of Annual Service Charge Account

Compliant with regulations, we prepare the service charge financial statements for the benefit of RTM members, ensuring transparency and compliance.

4. Prepare Annual Dormant Accounts

In accordance with regulations, we handle the preparation and filing of Annual Accounts to Companies House.

5. Preparation and Filing of Confirmation Statements

In strict adherence to regulations, we undertake the preparation and filing of Confirmation Statements with Companies House.

Bookkeeping & Service Charge Collection:
This comprehensive service extends to:

  1. Transaction Posting: Periodic posting of bookkeeping transactions to a selected accounting system (Zoho Books, Sage, QuickBooks, Xero) on a quarterly, monthly, weekly, or daily basis.
  2. Service Charge Demands: Building on the posted transactions, we proactively pursue tenants/owners under the RTM for timely payment of service charges.
  3. Purchase Ledger Management: Setting up payment approvals for RTM members, streamlining the process for approving payments to vendors.

Our Right to Manage Accounting & Bookkeeping Service is designed to not only meet compliance standards but to exceed them, providing a comprehensive and tailored financial management solution for property owners.

Additional Resources:

For more information on Right to Management (RTM) and specialist accountants, consider visiting Spondoo’s RTM Specialist Accountants page.

Don’t just count the days; make the days count with our Right to Manage Accounting & Bookkeeping Service. Your financial freedom awaits—let’s chart the course together! 📚💰✨

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Information provided on the site is merely guidance that may change in line with UK law and regulations. Users must not consider this to be financial advice or their sole resource when making any financial decision. Spondoo is a trading name for Accounting SQL Limited, authorised & license accounting firm under the Institute of Financial Accountants.
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