{"id":7271,"date":"2026-08-14T08:25:33","date_gmt":"2026-08-14T08:25:33","guid":{"rendered":"https:\/\/parte.be\/be-part-of-parte\/accounting-finances\/"},"modified":"2026-08-14T09:12:07","modified_gmt":"2026-08-14T09:12:07","slug":"accounting-finances","status":"publish","type":"page","link":"https:\/\/parte.be\/en\/be-part-of-parte\/accounting-finances\/","title":{"rendered":"Accounting & finances"},"content":{"rendered":"\n
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Good financial management is essential for every Owners Association. Concepts such as reserve fund<\/strong>, working capital<\/strong>, annual accounts<\/strong>, settlement<\/strong> and common costs<\/strong> therefore recur regularly. Here you can read how the accounting of an Owners Association works and what the various contributions from co-owners are for.<\/p>\n\n

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\n\n \n 1 <\/span>\n\n
\n \n Reserve fund <\/span>\n\n
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\n \n The reserve fund is a financial reserve for future major works on the building. Examples include roof renovation, facade work, or the renewal of an elevator. By saving regularly, unexpectedly high contributions are avoided. <\/span>\n <\/div>\n
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\n\n \n 2 <\/span>\n\n
\n \n Working capital <\/span>\n\n
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\n \n The working capital is used for the payment of the daily costs of the Owners Association. Examples include electricity, cleaning, maintenance, and minor repairs. Owners pay periodic advances for this. <\/span>\n <\/div>\n
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\n\n \n 3 <\/span>\n\n
\n \n Budget <\/span>\n\n
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\n \n The budget provides an overview of the expected income and expenses for the coming financial year. Based on this, the provisions for the co-owners are determined. The General Meeting approves the budget. <\/span>\n <\/div>\n
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\n\n \n 4 <\/span>\n\n
\n \n Annual accounts <\/span>\n\n
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\n \n The annual accounts provide an overview of all income and expenses from the past financial year. This gives owners insight into the financial situation of the Owners Association. The annual accounts are submitted to the General Meeting for approval. <\/span>\n <\/div>\n
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\n\n \n 5 <\/span>\n\n
\n \n Accounting <\/span>\n\n
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\n \n The accounting includes all financial transactions of the Owners Association. It ensures a transparent overview of income, expenses, and available resources. The Property Manager manages the accounting according to legal regulations. <\/span>\n <\/div>\n
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\n\n \n 6 <\/span>\n\n
\n \n Settlement <\/span>\n\n
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\n \n The settlement compares the paid advances with the actual costs. This makes it clear whether an owner must pay extra or receive a refund. The settlement is usually prepared annually. <\/span>\n <\/div>\n
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\n\n \n 7 <\/span>\n\n
\n \n Individual settlement <\/span>\n\n
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\n \n The individual settlement shows which costs are specifically charged to one owner. It is based on the cost allocation keys of the co-ownership. This gives each owner a clear overview of their personal contribution. <\/span>\n <\/div>\n
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\n\n \n 8 <\/span>\n\n
\n \n Common costs <\/span>\n\n
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\n \n Common costs are expenses for the management and maintenance of the common areas. Examples include cleaning, electricity, insurance, and maintenance contracts. These costs are divided according to the deed of co-ownership. <\/span>\n <\/div>\n
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\n\n \n 9 <\/span>\n\n
\n \n Provision <\/span>\n\n
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\n \n A provision is an advance that co-owners pay for the expected costs of the Owners Association. This ensures the association has sufficient resources to pay invoices on time. The final settlement follows at the end of the accounting period. <\/span>\n <\/div>\n
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Property Manager Glossary<\/a><\/div>\n\n\n\n
Extending Your Home<\/a><\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Good financial management is essential for every Owners Association. Concepts such as reserve fund, working capital, annual accounts, settlement, and common costs therefore recur regularly. 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