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The accounting and recordkeeping department of N. W. Management and Realty Services, Inc. functions for one purpose only, to provide our clients with complete financial accountability of the asset entrusted to our care. This is provided through the service described below:
DISBURSEMENT OF FUNDS:
Accounts payable can be handled one of two ways:
Option 1 - A checking account is established and N. W. Management and Realty Services, Inc. disburses funds after a farm manager approves each invoice. Two company officials sign each check issued.
Option 2 - Invoices are approved by a farm manager and forwarded to owner for payment. In turn, N. W. Management and Realty Services, Inc. makes book entries into the accounting system.
Income - Income is deposited directly into the checking account or can be forwarded to owner.
MONTH END REPORTS:
N. W. Management and Realty Services, Inc. supplies a monthly check register and reconciled bank statement along with the original invoices attached to a copy of the corresponding check. In addition, monthly activity and comparison to budget and year to date activity and comparison to budget are provided. These reports are substantiated with month-ending trial balance sheets, and a complete trail of audit showing all ledger entries is available.
PAYROLL:
N. W. Management and Realty Services, Inc. is available to accept legal employer responsibility for properties that require payroll. This means that we take care of setting up appropriate government accounts, fulfilling I-9 and W-4 requirements for new employees, issuance of pay checks, timely deposits of FICA and FUTA taxes, quarterly reports for Washington State Employment Securities and Department of Labor & Industries, auditing the validity of Employment Securities and Labor & Industries claims, and year end reporting requirements for W-2s, W-3, 940 and 943. Group Health Insurance is available for qualified employees.
FINANCIAL MANAGEMENT REPORTS:
Budget and Budget vs. Actual reports can be produced for two types of accounting periods, crop year and fiscal year.
GENERAL MONITORING:
Through office personnel, N. W. Management and Realty Services, Inc. also monitors various farm activities by way of a tickler system. This enables N. W. Management and Realty Services, Inc. to keep track of when real estate taxes are due, payments of leases between tenant and owner or owner and other parties are due, status of tenant and/or owner insurance coverage, etc.
All property activity is reported monthly. A sample of these reports is on the following pages.
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