Systems - Spectrum Commercial Real Estate Solutions
Inc.'s automated accounting systems provide:
accounting packages to meet the client's needs
accurate and complete accounting reports monthly
- Cash or
accrual reports (monthly)
- ACH fund transfers
escrow accounts with monthly bank reconciliations
funds transfer to insure interest earnings for escrow accounts
gross sales reports (retail only)
- Spectrum Commercial Real Estate Solutions Inc. uses a team approach
in the management of its internal affairs and the management
of its fee accounts.
Spectrum Commercial Real Estate Solutions Inc. has a fully-automated accounting
system which is driven primarily by Skyline and Caliber Software.
Each office is connected through a network which
allows the various offices to transmit data back and forth. Custom
programs have been designed to allow the integration of Microsoft
Word and Microsoft Excel into the Skyline
or Caliber system. As a result, we have the capability of generating
reports specific to the client's needs. We currently produce custom
reports for many of our clients.
and Disbursements - A separate escrow account is maintained
for each client. Typically, a savings escrow and checking escrow
are established at the onset of each assignment. All collections
are directed into a savings escrow; then funds are transferred
as necessary into the checking escrow to pay ongoing bills. Each
monthly statement is reviewed and audited by the property manager
in charge, and cash is tied back to the client's individual bank
are approved in a three-step process. When the on-site manager
determines a expenditure is necessary, the expenditure is reviewed
with the property manager in charge of the account and a purchase
order is issued. Then, the invoice for the work is reviewed and
approved by the on-site manager prior to its being sent to the
central office for processing. The property manager in charge
reviews the invoice and compares it to the original purchase order,
then approves it for payment. One of the company's principals
then signs the check.
and authority are separated at the staff level.
Rent Schedules and Collections - A Current Rent Roll is produced in each monthly financial report.
reports are currently generated three times per month. A copy is delivered by the property manager to the on-site manager who is primarily responsible for collections. Rents are due on
the first day of the month; considered delinquent on the 5th (unless otherwise dictated in the governing documents).
Service Payments - Internal procedures have been established
to insure the timely payment of debt service, real estate taxes,
insurance premiums and monthly utility payments. All regular reoccurring
payments are programmed into the operating budget which is used
to flag approximate payment amounts. In addition, an automated
suspense file is created for each property which requires the
manager to take specific action in order to remove the suspense
item from the file. Suspense items would include property tax
payments, one time insurance premium payments, lease expiration
Spectrum Commercial Real Estate Solutions Inc. has developed a Standard
Operating and Procedures Manual which is used by the manager in
charge and the on-site staff as a general guideline of operations.
The manual is modified from time to time, to accommodate unique
circumstances at each project. The manual sets forth procedures
for collections, purchasing and disbursements, tenant relations
and administrative procedures.