If you’re going to do it, you might as well do it right the first time. Being able to provide timely and accurate information is critical to good accounting and NAI Elliott Director of Financial Services Duane Nishida and Assistant Controller Beth Twardoch share how our accounting department keeps information accurate while also delivering it quickly to key decision makers.
NAI Elliott accountants regularly provide balance sheets, a snapshot that reflects what’s going on at that property at that time, to owners. They must be ready to pull this information quickly so that when a landlord requests financial information urgently everything is not only correct but also up to date.
Being prepared to deliver information at the drop of a hat helped our accounting department during the pandemic. A lot of owners were understandably concerned about the amount of money in their accounts, which tenants were paying rent and what bills were coming due. Our accountants were able to work with our real estate management teams to provide weekly reports to commercial real estate owners during that time that helped them make decisions based on the data in those reports.
Thorough accounting for commercial buildings goes beyond just providing reports. It’s also analyzing the data and making sure the balance sheet accounts tie or an amortization schedule ties to a mortgage statement.
Our accountants are truly our secret weapon and their diligence and commitment keep our clients informed to make whatever decisions they need to about their commercial properties.