SX Business Services
SX Business Employee Spotlight: Debora Bridges, Accounts Payable Administrator
February 14, 2023
She was born in Savannah, Georgia and moved to Easton at 4 years old. According to her uncles she grew up a Yankee. She met her husband in high school, but they didn’t begin dating until they were 20 and now have been married for 32 years! They raised a beautiful family with 4 daughters in Foxboro, MA. They currently have three grandchildren.
Deb played soccer at North Adams State (now called Massachusetts College of Liberal Arts) where she received her business degree. She passed along her athleticism to her offspring. All four of her daughters played college sports: Cory competed in Gymnastics @ RIC, Kayla played Soccer and Lacrosse at Fitchburg State, Emma was on the Swim Team at UMBC, Annika was on the Diving Team at UMBC.
For fun, she likes to hike, kayak and ski. There are 11 years between her eldest and youngest children. The vacations that made all ages happy were trips to the beach, Disney, and skiing.
Her past jobs have always been in finance. She previously worked for a financial planner, an events company and an apartment management company. The similarities between her previous jobs and her responsibilities at SX made for an easy transition.
What has been your experience so far at SX Business?
On my very first day here at SX people made me feel welcome. SX is a very friendly environment, people work well together, everyone is approachable and willing to help where needed.
Choosing the best real estate accounting software for your business involves considering several factors to ensure it meets your specific needs. Here is a step-by-step guide to help you make the right choice:
In real estate, the accounts payable (AP) department functions similarly to AP departments in other industries but with some distinct differences due to the nature of real estate transactions and operations. Here are a few ways in which an accounts payable department in real estate might differ: Volume and Complexity of Invoices: Real estate companies often deal with a high volume of invoices from various vendors, including contractors, suppliers, utility companies, property management firms, and more. These invoices can vary significantly in terms of complexity, such as invoices for property maintenance, repairs, renovations, leasing expenses, property taxes, and utility bills. As such, the AP department in real estate needs to efficiently process a diverse range of invoices while ensuring accuracy and compliance. Property-specific Expenses: Real estate companies typically manage multiple properties, each with its own set of expenses. The AP department must track and manage property-specific expenses, such as maintenance and repair costs, property taxes, insurance premiums, and utilities. This requires robust accounting systems and processes to allocate expenses accurately to the appropriate properties and projects. Vendor Relationships: Building and maintaining strong relationships with vendors are crucial in real estate. The AP department may work closely with vendors to negotiate payment terms, resolve billing discrepancies, and ensure timely payments. Additionally, real estate companies often rely on long-term relationships with contractors, suppliers, and service providers, so the AP department plays a key role in fostering these relationships to ensure smooth operations. Compliance and Regulations: Real estate transactions and operations are subject to various regulatory requirements and compliance standards, which can vary by jurisdiction. The AP department must stay updated on relevant regulations related to taxation, leasing, property management, and other aspects of real estate finance. Compliance with regulations such as lease accounting standards (e.g., ASC 842) and tax laws is essential to avoid penalties and ensure accurate financial reporting. Budgeting and Forecasting: Real estate companies typically have extensive budgets and financial forecasts that the AP department contributes to by providing data on expenses and payables. This may involve analyzing historical spending patterns, projecting future expenses, and collaborating with other departments, such as finance and asset management, to develop accurate budgets and forecasts. Overall, while the core functions of an accounts payable department remain consistent across industries, the unique characteristics of the real estate sector necessitate specific skills, processes, and expertise to effectively manage payables and support the financial health of the organization. If you have any questions about how SX Business Services can assist you with your outsourced accounts payable needs, please reach out today!
Nicole Bui, Senior Treasury & Accounts Receivable Analyst
Sign Up For Our Industry Newsletter
(781) 352-2329
661 Pleasant St Norwood MA
02062
Latest news
Choosing the best real estate accounting software for your business involves considering several factors to ensure it meets your specific needs. Here is a step-by-step guide to help you make the right choice:
In real estate, the accounts payable (AP) department functions similarly to AP departments in other industries but with some distinct differences due to the nature of real estate transactions and operations. Here are a few ways in which an accounts payable department in real estate might differ: Volume and Complexity of Invoices: Real estate companies often deal with a high volume of invoices from various vendors, including contractors, suppliers, utility companies, property management firms, and more. These invoices can vary significantly in terms of complexity, such as invoices for property maintenance, repairs, renovations, leasing expenses, property taxes, and utility bills. As such, the AP department in real estate needs to efficiently process a diverse range of invoices while ensuring accuracy and compliance. Property-specific Expenses: Real estate companies typically manage multiple properties, each with its own set of expenses. The AP department must track and manage property-specific expenses, such as maintenance and repair costs, property taxes, insurance premiums, and utilities. This requires robust accounting systems and processes to allocate expenses accurately to the appropriate properties and projects. Vendor Relationships: Building and maintaining strong relationships with vendors are crucial in real estate. The AP department may work closely with vendors to negotiate payment terms, resolve billing discrepancies, and ensure timely payments. Additionally, real estate companies often rely on long-term relationships with contractors, suppliers, and service providers, so the AP department plays a key role in fostering these relationships to ensure smooth operations. Compliance and Regulations: Real estate transactions and operations are subject to various regulatory requirements and compliance standards, which can vary by jurisdiction. The AP department must stay updated on relevant regulations related to taxation, leasing, property management, and other aspects of real estate finance. Compliance with regulations such as lease accounting standards (e.g., ASC 842) and tax laws is essential to avoid penalties and ensure accurate financial reporting. Budgeting and Forecasting: Real estate companies typically have extensive budgets and financial forecasts that the AP department contributes to by providing data on expenses and payables. This may involve analyzing historical spending patterns, projecting future expenses, and collaborating with other departments, such as finance and asset management, to develop accurate budgets and forecasts. Overall, while the core functions of an accounts payable department remain consistent across industries, the unique characteristics of the real estate sector necessitate specific skills, processes, and expertise to effectively manage payables and support the financial health of the organization. If you have any questions about how SX Business Services can assist you with your outsourced accounts payable needs, please reach out today!