What part of society accounting takes the most committee time?
Before I joined the managing committee, I also thought accounting was mainly about collecting maintenance and paying vendors.
After spending a year in it, I feel that part is actually the easiest.
Most of the time goes into things around it, following up on pending dues, checking whether online payments have been properly recorded, matching bank entries, answering residents’ questions about old or disputed payments, and pulling together reports whenever someone asks for financial details.
Bookkeeping itself is fairly straightforward. The effort is really in reconciliation, tracking, and explaining numbers when needed.
For other societies, is this also where most of the time goes every month? And if yes, has anything actually helped reduce this kind of workload in a meaningful way?