The Property Management Accounting function forms a vital and integral part of our property management service.
The department totals more than 185 staff nationwide including client accounting, service charge management, accounts payable, cashiers and credit control.
We continue to invest significantly to develop the quality of our services, which has been supported by some accounting-only client instructions.
Central to the service quality are our robust internal controls which are continuously reviewed and regularly audited - both internally and externally.
Our internal procedures are documented within the Workman Quality Assurance manual and are accredited to ISO: 9001. Workman has held the AAF01/06 Internal Controls accreditation since 2010. The firm is also subject to regular RICS audit.
This has enabled the property management service to grow to a significant scale:
- Credit Control – over £1.5bn per annum rent collected, with typically 95% recovered within 14 days
- Service Charge Management – over 1,200 reconciled annually within four months of year end
- Cashiers – approximately 1,800 client bank accounts managed and reconciled monthly.
- Accounts Payable – over 140,000 invoices and £250m of expenditure processed annually.
Workman has a breadth of experience across a number of property management accounting systems, including Tramps, Horizon, Yardi and MRI and have developed a range of bespoke reporting solutions across our client base.