SYI employs state-of-the-art accounting systems to track the financial details of a project in a timely and accurate manner. These tracking systems work in concert with SYI’s custom financial modeling application to better track performance against projections.
SYI’s custom financial modeling application creates proformas for up to a ten-year period and can also prepare projections for Acquisition and Development loan applications. SYI’s financial system is also used to create project budgets that can then be entered directly into the accounting system. This benefit allows our project team to track actual project costs against the initial projections provided by the proforma. SYI provides full bookkeeping services that generate financial information for review by third party independent accountants.
SYI handles the loan draws and submits them to the lender for project financing. General liability insurance for the project is quoted and secured. All payments of a project’s contractors and vendors are made and recorded. Lot sales are processed and system reports can be provided to show project-to-date lot sales by section. Records for Municipal Utility District’s receivables are maintained by SYI, including the preparation of bond sale submittals. The 1099 tax forms are prepared and sent in accordance with IRS regulations. Investors can rely on SYI to work closely with their CPAs regarding compilations and tax returns.