Extended Producers Responsibility means the responsibility of a producer (includes Brand-owners/Importers) for the environmentally sound management of the product until the end of its life.
Under EPR in accordance with PWM Rules 2016 (amendment 2018) PIBOM’s (Producers, Importers and Brand Owners, Manufacturers) are given a significant responsibility for the recycling or disposal of post-consumer waste.
What is PRO?
The waste generators such as brand owners/producers are required to collect back the end of life waste generated through their business. This responsibility is met through waste collection agencies who are recognized as a Producer Responsibility Organization (PRO) .
Post-Consumer Waste Management System (Extended Producers Responsibility) – Pictorial Flow Chart
This means employing the right property management accounting practices that follow state and federal guidelines while letting you create a structure of success that can build up over time.What follows are a few tips to help you with your property management bookkeeping, so you can avoid issues and take advantage of what is available.Be Meticulous with Financial RecordsThe better you maintain your records, the easier it will be to track what you are doing and provide solid protection in case you are audited.
In addition, you’ll be able to see trends and answer common questions about your property investment.
This means that you may be able to spot potential issues in the early stages and make plans to counter its effects.
In addition, keeping good financial records helps with the following;Maintenance IssuesMarket PerformanceLocal Market CompetitivenessThe more documents you can keep for every transaction, the better off you will be.
This is where going digital can really help if you have the proper backups in place.Create Trust Accounts You want the funds allocated to running your business being used in the proper way.
So, you’ll need to start by creating trust accounts to help you organize and ensure that your money is being spent the right way.