CPA Standards by an Accounting Professional
Our Accounting Department is run by an Accounting Professional. This ensures the proper financial processes and practices are done.
Trust Account Management
Financial Institution - “Banking”
Obsidian has partnered with Coast Capital Savings to host all our clients trust accounts. We selected Coast Capital Savings because of their reputation as a strong progressive financial institution.
Coast Capital Savings’ deposits are covered to a limit of $100,000 per insured.
Accounting and Property Management Software
Obsidian uses ShiftSuite for our client’s accounting as well as the management of owner lists and other critical information. ShiftSuite is integrated with our on-line portals and payment processing platforms.
Payments – Accounts Payables
Obsidian offers Electronic Fund Transfer (“EFT”) to your vendors. There is no cost to the vendors to register with sparc block and payments are issued weekly for approved invoices.
Using our online invoice processing software, the strata can review and approve each irregular invoice prior to payment. This gives complete transparency and control over expenditures to the council.
Council turns the collection process to Obsidian. We have created an effective and efficient process to collect outstanding balances from owners and tenants.
Accepted Payment Methods
- Cheque, Money Orders and Bank Drafts
- Pre-Authorized Debit (“PAD”) - our most popular office
- LETUS – Credit Card & Debit Fund Transfer
Financials – Statements, Reconciliations, and Backup
Obsidian will provide the Strata Council with the Strata Corporation’s financials for each month. This includes all the standard reports, reconciliations, general ledger, and any backup (e.g. invoices.
Obsidian has established a professional relationship with Scott Porter of Edward Jones. Our clients may discuss investment options and the strata council has the choice to purchase investments if they choose.