Financials Handover Checklist for Strata Managers

Mandatory checks before running reports and closing the bank account

• All bank receipts (TXN) processed
• All unpresented payments or receipts resolved
• Bank Reconciliation fully up to date
• Cash at Bank matches Balance Sheet
• Term deposit account matches the Balance Sheet
• Trust account matches the Balance Sheet
• All invoices entered in your software paid
• Supplier ledger printed showing all unpaid invoices before removing them
• All unpaid supplier invoices downloaded and removed from the system

Financials Handover Reports to include

• Full set of financials for Current Financial Year (Group or Separate schedule), consisting of:
  Balance Sheet
  Income & Expenditure Report (with approved budget)
  Detailed Expenses
  Detailed Revenue
  General Ledger
  Levy Position/ Lot Position Report
• Full set of financials for Past Financial Year (if AGM required after handover)
• Detailed arrears list (not Aged Arrears Report)
• Strata roll
• Owners’ detailed list
• Previous Sub-meter reports
• Last AGM minutes
• Supplier ledger listing all unpaid invoices
• Unpaid supplier invoices (original copies, in a separate folder)
• All paid supplier invoices extracted (original copies)
• GST Summary and Audit Trail reports (if GST registered)
• Term deposit bank statements (previous and current year, if applicable)
• Tax reports & General accounts from 1 July (for tax return preparation)

Close the bank account only after confirming the bank balances agree with the current financial year reports being handed over.

Note: This checklist is not the full operational handover checklist. It covers only the financial reports required for the on‑boarding agent to commence financial onboarding

Downloadable PDF