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Property Management Accounting: Accounts Payable vs. Accounts Receivable

Author: 
Kim Brown
Publication date:
November 29, 2022
Article Summary: 

Property Management Accounting: Accounts Payable vs. Accounts Receivable

Accounts payable and accounts receivable are two important elements of property management accounting that help the community stay organized and financially stable. Keeping track of AP and AR is important for two reasons: it helps the condo/HOA stay organized and keep their finances in order, and it can help avoid financial problems. If too many bills go unpaid, the community may face late fees, interest charges, or even legal action.

Keywords: 

accounts payable, accounts receivable, condo accounting, HOA accounting, community accounting, financial statements

Source Citation: 
Kim Brown
Property Management Accounting: Accounts Payable vs. Accounts Receivable
November 29, 2022
https://www.condocontrol.com/blog/property-management-accounting-accounts-payable-vs-accounts-receivable/
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