Financial Management

We take the stress out of financial management, giving your strata scheme confidence, clarity, and long-term financial health

At Professionals Strata Team, we recognise that financial management is the backbone of effective strata administration. A well-run strata scheme depends on sound budgeting, clear reporting, responsible levy management, and strong financial governance. We work closely with Owners Corporations to ensure every dollar is tracked, every decision is informed, and every financial obligation is met on time, with no hidden surprises.

Accurate Budget Planning: Every successful financial year begins with a well-prepared budget. We help the Owners Corporation develop an annual administrative and capital works budget that reflects the true cost of managing the property. This includes careful forecasting of ongoing maintenance, insurance, utilities, strata management fees, and long-term capital works — with a focus on financial sustainability, not just short-term savings.

Levy Issuance and Management: We manage the full levy cycle — from issuing levy notices to tracking incoming payments and following up on arrears. Our systems allow for accurate scheduling, fair apportioning of contributions, and clear communication with owners. If levies are unpaid, we apply a respectful but firm approach to debt recovery, always in line with the law and with committee oversight.

Transparent Reporting: We provide regular, easy-to-understand financial reports that clearly show income, expenditure, account balances, and levy arrears. Whether monthly, quarterly, or annually, our reports are designed to give committees full visibility and control over the scheme’s financial performance.

Invoice Processing & Accounts Payable: Our team ensures all supplier invoices are correctly matched, approved, and paid on time. We monitor and verify each invoice against prior approvals or service agreements and ensure there are no duplicate or unauthorised payments. This reduces risk, prevents budget blowouts, and keeps your contractors and service providers satisfied and accountable.

Reserve Fund Monitoring: Long-term financial planning is essential to avoid large special levies or financial strain when major works are needed. We track the capital works fund balance, align it with your 10-year plan, and alert the committee when contributions may need adjustment to stay ahead of future obligations. Our guidance supports a stable and predictable funding pathway for your property’s future.

Audit Support & Compliance:

We assist in preparing your financial records for audit in accordance with NSW strata legislation. Our books and records are always maintained to an audit-ready standard. If an Owners Corporation chooses to undergo an annual audit (or is required to), we coordinate the process with your appointed auditor and respond promptly to any queries they may have.

GST, BAS, and Tax Lodgement Assistance: For schemes registered for GST or required to lodge Business Activity Statements (BAS), we ensure accurate record-keeping and can assist your tax agent or accountant in preparing these submissions. We also provide documentation for tax returns or capital gains tax reporting, where applicable, ensuring your strata entity stays compliant.

Trust Account Security & Compliance: We manage your funds through separate trust accounts in strict accordance with NSW Fair Trading regulations. All monies are held securely and are never co-mingled. Our software provides clear audit trails, restricted user permissions, and transaction histories, offering peace of mind and accountability to every scheme we manage.

Financial Advice & Committee Support: We offer clear, objective advice to committees when making financial decisions — from approving quotes to managing unexpected costs or planning for a special levy. Our goal is not just to keep the books balanced, but to empower committees to make decisions that benefit the whole community.

With Professionals Strata Team, you gain more than just a bookkeeper — you gain a strategic financial partner. Our disciplined, honest, and transparent approach to financial management supports the long-term prosperity of your strata scheme and ensures every owner knows their investment is in capable hands.