Alton Management Corporation

AMCorp provides accounting services in our centralized accounting department for an additional monthly fee. This system enables closer control of the project’s accounts payables, accounts receivables, rent rolls, and check writing.

Bank reconciliations, disbursements, and monthly financial reports are automated. Checks are issued by computer, as are the 1098 and the 1099 forms. Alton uses CAMS II software for most of their client locations.

The central office’s accounting department prepares the following:

Reconciliation of all bank statements
Reconciliation of rent rolls, subsidy billings, and income reports
Monthly report for establishing net income
Posting to the general ledger
Payroll computer input and billing
Comparisons to budget

The site manager is responsible for rent collection and banking.

Centralized accounting is recommended for its efficiency and improved fiscal controls. Another benefit of this is that it also allows the on-site management to focus on the physical needs of the complex and resident relations.