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Strata operations: Easy Accounting for Self-Managed Stratas

Wendy Wall
VISOA - Vancouver Island Strata Owners Association

The vast majority of stratas in BC are small and self-managed (nearly 80% have fewer than 25 units) and may think that they need an accountant to do the books. Bookkeeping and the preparation of financial statements for strata corporations doesn’t need to be complicated. To comply with the Strata Property Act, all that is usually needed is an accurate and complete record of revenues received and payments made each month, as well as a budget and a financial statement that comply with the Strata Property Regulation. In this presentation, you'll see a demonstration of STRATACCOUNT, an easy-to-use spreadsheet program designed for self-managed stratas with little or no experience with bookkeeping.

The Vancouver Island Strata Owners Association is an independent, non-profit society that provides education, support, and advocacy for BC strata owners and strata corporations. Formed in 1973, it is the longest-running organization of its kind in Canada. Membership is open to any resident of BC, strata corporations (such as condominiums, town homes, bare land, and commercial stratas), and businesses that provide goods and services to stratas. Learn more at: www.visoa.bc.ca

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