A condominium typically has two bank accounts:
- A current account, used for daily operations
- A savings account, dedicated to the Reserve Fund
💸 Incoming Payments
When the owner pays their regular fees + reserve fund contribution, the entire amount is deposited into the current account.
To ensure proper financial management, you should periodically (at least once a year):
- Transfer the total amount received for the fund
→ From the current account to the reserve fund savings account
💰 Payments Using the Reserve Fund
If the condominium decides to pay a supplier using reserve funds:
- Transfer the required amount from the savings account to the current account
- Make the payment from the current account
📊 Demonstrative Balances (Accounts 551 and 561)
- Account 551 represents the balance of the savings account
- Account 561 represents the balance of the current account
If there are no outstanding debts and the transfers are performed correctly, the balances in the accounting system should match the bank balances.
If this does not happen, it’s likely due to manual posting errors in the accounting records.