Recently, we received an invoice from our property manager. This invoice posted a general assessment due in September 2003. However, the annual assessment is not due until January 2004. We all should be concerned about such an error. To begin with, it violates the matching principle, which is the basis of accounting. You must match what is being billed to when it is collected and spent. This may seem like a lot of mumbo jumbo, but shouldn't our property manager be able to manage our books? He explained to one of your neighbors that there was a glitch in his system. That must have been some glitch to post a due date four months earlier. Basically, the invoice idicated that most of us were in arrears. If you value your credit rating or are trying to sell your home, this could have been a problem. Assuming there was a glitch in his system, I demand that the property manager distribute corrected invoices as soon as possible. At least, this would give our property manager a chance to demonstrate basic accounting skills, or at least knowledge of how to use Quicken.
By Two by Two
By Two by Two
