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Our client, a property management company based in Calgary, Canada, established in 2016, specializes in the management of 63 condominiums.

They are actively seeking an outsourcing company to handle their accounting services. Their main emphasis and requirement center around efficient management of accounting tasks. They have entrusted us with crucial responsibilities, prioritizing the posting of invoices for accounts payable and the generation of monthly financial reports for each condominium.

Story of the Client

Our client is a Canada based Property Management Company established in 2016, they achieved an impressive occupancy rate across their managed properties.

Specializing in the management of 63 condominiums, they provide a range of comprehensive services like property maintenance, tenant management, financial accounting, lease administration, and responsive customer support.

The client's primary requirement is to entrust us with the responsibility of handling the posting of invoices for accounts payable and generating accurate monthly financial reports for each condominium.

Nitish Kumar story

Their specific requirement entailed delivering a monthly volume of 500 invoices and producing meticulous financial reports that effectively display key performance indicators and provide comprehensive breakdowns of expenses.

The Challenge

Diversity in Accounting

  • Lack of uniformity in recording processes across condos.
  • Quality of work is affected by short employee cycles.
  • Difficulty in understanding diverse accounting processes for over 30 condos.

Accuracy & Completeness of Accounting/ Financials

  • Delayed processing of vendor & utility bills, leading to unnecessary interest & penalties.
  • Difficulty in negotiating competitive rates with vendors despite large business volume.
  • Challenges in executing proper month-end closing procedures, impacting timely financial reporting.


  • Difficulty in tracking and managing uploaded invoices for each condo in Xero.
  • Challenges in identifying removed or misplaced invoices.

Discrepancy in Old Data

  • Issue in Chargeback Invoices: Duplicate invoicing issues arising from chargeback invoices created by both parties.
  • Treatment of Insurance: Inconsistent treatment of insurance across condos, resulting in logically false entries.
  • Financial Backup Data: High volume of data stored in Gdrive for each condo, posing difficulties in proper organization.

The Solution

  • Ensured uniform treatment of accounting across all 63 companies to maintain consistency in financial records.
  • Collaboratively worked on insurance bookkeeping to address major financial and legal concerns for the client.
  • Implemented a new procedure to process utilities invoices directly, ensuring timely payments and meeting deadlines.
  • Introduced a systematic invoice tracking system using dated folders for better organization and monitoring.
  • Conducted a detailed analysis of longstanding doubtful figures, providing actionable insights to the client.
  • Resolved issues with chargeback invoices by providing clear instructions and centralizing the process.
  • Consolidated data sources into a single location in Gdrive, facilitating efficient access to essential documents for both the accounting team and the client.

The Result

  • Consistently providing monthly financials before due dates has earned appreciation from the Boards.
  • The quality of financial reports has improved significantly.
  • Our well-established and centralized accounting procedure ensures accurate information at all levels with just a single click.
  • Timely payments of utilities and vendors have been achieved.
  • After one year of utilizing the Indian accounting team, significant cost savings in accounting have been realized.
  • Efficient bookkeeping has reached its peak after one year of using the Indian accounting team.
  • We have implemented uniform monthly financial processing for all 63 companies.
  • Automatic systems have been created for repetitive manual journals and invoices, resulting in substantial time savings.
  • Longstanding discrepancies in the books have been resolved.
  • There have been no incidents of duplicate chargeback invoicing in the past year.
  • A comprehensive check of books for the last two years has been completed, along with proper invoice verification.
  • Organized backups for all financials of the last two years have been maintained for each condo.
  • The treatment of insurance has been improved as per client requirements, earning appreciation from the client and their auditor.

Enhance Customer Service with Global Accounting Corp

Efficiently managing finance, accounting, and billing processes is a significant challenge for industries worldwide. From intricate bookkeeping to complex accounts payable, tax preparation, and payroll services, handling financial data demands considerable time and effort, impacting businesses of all sizes.

At GAC, our dedicated team of finance and accounting experts delivers comprehensive support, streamlining financial workflows, reducing operational costs, and ensuring compliance with global accounting standards.

Contact GAC today and embark on a journey towards financial excellence and unparalleled business success together.

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