Under Construction

REAL ESTATE

CONSTRUCTION ACCOUNTING

Cost clarity and control

PROJECT KICKOFF

  • REVIEW

    • Documents and agreements

  • CLARIFY

    • Legal structure

    • Organizational structure

    • Points of contact

    • Controls and delegation of authority

    • AP approval policies

    • Loan/Equity draw cycle

    • Contractor payment cycle

  • ACCOUNTING SYSTEM SET-UP

    • Accounting entities

    • AP approval workflow

    • Job cost structure

    • Investors

COMPLIANCE

  • AUDITS

    • Draft financial statements with footnotes

    • Audit coordination

  • INCOME TAX COORDINATION

  • 1099 | 1096 PREPARATION

PROJECT FUNDING & DISTRIBUTIONS

  • LENDER DRAW REQUESTS

    • Preparation

    • Submission

    • Coordination

  • INVESTOR FUNDING REQUESTS
    • Calculate funding by investor

    • Preparation

    • Dissemination

  • DISTRIBUTIONS

    • Waterfall calculation

    • Coordinate

      • Approval

      • Payment

ACCCOUNTING & REPORTING

  • RECORDS MAINTENANCE

    • Institutional quality

    • Audit ready

    • GAAP or tax basis

  • ACQUISITION ACCOUNTING

    • Record closing statement

    • Coordinate purchase price allocation, cost segregation, or other valuation requirements

  • AP PROCESSING

    • Contract compliance

    • Insurance compliance

    • Lien release tracking

    • Payment issuance

  • JOB COSTING

    • Sophisticated solutions for complex projects with multiple phases, projects, and cost centers

    • Cost tracking by job and cost code

    • Budget tracking

    • Contract tracking

  • SALES | COST OF SALES

    • Purchaser deposit tracking

    • Record sales closing statement

    • Calculate and record cost of sales

  • CONTRACT COMPLIANCE

    • Contract and change order tracking by contract line item

    • Payment tracking

    • Retention tracking

    • Controls for:

      • Over Payment

      • Insurance compliance

      • lien compliance

  • FEES

    • Calculation

    • Payment coordination

  • INCOME ALLOCATION

    • Waterfall design and calculation

    • Allocation to individual investors

  • REPORTING

    • Management, lender, & investors

    • Standard reporting

      • Balance sheet

      • Income statement

      • Statement of equity

      • Statement of cash flows

      • Job cost reports

      • Contract status report

      • Financial covenant compliance analysis

TREASURY ADMINISTRATION

  • CASH

    • Daily cash balance tracking

    • Reconciliations

      • Cash

      • Loans

      • Escrows, reserves, holdbacks, & deposits

  • WIRE & ELECTRONIC PAYMENT COORDINATION

© 2020 Noble Street Advisors, LLC

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