Make a Resolution For Better Accounting Practices

Were you glad to see the end of 2003, especially when it relates to managing the accounting functions of your association(s)?

Are you hoping that somehow 2004 will magically bring more accurate and efficient accounting with less headaches?

Even though you have an excellent automation software tool in TOPS 2000™, you might have been thinking to yourself some of the following ideas, concerns, or questions:

• Why are my outside CPA bills so high?
• Why am I spending an inordinate amount of time on accounting issues?
• Am I using TOPS to its fullest potential?
• I’m not certain I have entirely accurate financials, but don’t know how to resolve the same old issues.
• When talking with my accountant, I have a hard time understanding the accounting jargon used and get frustrated. They just doesn’t understand my industry.
• I wish I had someone else handling my accounting, so I can do the property management functions that I enjoy.
• I wonder if my community(ies) are configured the best way possible in TOPS?
• Is there a more efficient way to produce month end financial reports?
• Why does my outside CPA keep recommending to use an ”off the shelf” accounting software?
• Should I operate on a cash basis, accrual basis, or a variation thereof? By the way, what does cash or accrual basis mean anyway?

Having these thoughts might be an indicator there is a more effective way to produce the financial information for your community(ies). You owe it to yourself to start 2004 off on the right foot and make a:

NEW YEAR’S RESOLUTION

Get the help you deserve, reduce stress, provide better service to your clients, save time, and get back to the non-accounting related issues of the community(ies) you serve! You can get this type of help by choosing two, out of the three, options below:

1. Business as usual! (Although this is the easiest in the short run, this is not one of the three options recommended.)
2. Sign up for TOPS support! Ensure you are signed up for software support from TOPS. The support TOPS provides for the software is excellent. The nominal monthly support fees can save you undue headaches, time, stress, and wasted money. By paying support fees you will automatically receive the most updated version of the software, as well as the ability to call someone knowledgeable about the software to get your software issues resolved.
3. Engage a TOPS’ third party consultant! Get someone intimately verse in TOPS and who knows accounting for the industry. Typically, these consultants are less expensive than your CPA, can resolve your accounting issues in less time, ensure the software is setup correctly for future success, and provide training, if needed.
   
   A recent user of such services stated,

   “I wish you could see me doing back flips, now I can start enjoying the holidays! Thank you for assisting me in getting all of my communities’ financials in order…2004 is going to be a much better year!”

   Margie – Field Master Community Management

In summary, hoping and wishing the accounting will somehow get better by continuing what has been done in the past will not yield the results you deserve. Make a New Year’s resolution to get the accounting under control by being more efficient and accurate. Better yet, ACT on your New Year’s resolution!

I Wish You A Prosperous 2004!

Ricky Hux, President of Best Fit Solutions, is a Trainer and Dealer for TOPS products. He has a degree in Accounting from Texas A&M, received his CMCA designation, and has senior level accounting experience in Fortune 500 companies. Visit his website at www.bestfitsolutions.net or call him at 281-870-0404 to learn of outsourced accounting services as well as other services his company offers to the industry.