HOA Accounting and Management Articles and Advice
The coronavirus outbreak has led to temporary business closures and a reduction of workdays. As a result, more homeowners are unable to pay their HOA dues. This is when HOA remote management during coronavirus becomes all the more important. In this article: Benefits of HOA Remote Management During Coronavirus The Importance of HOA Dues…
The coronavirus outbreak has forced many businesses to redefine the way they hold meetings. Homeowners associations are not exempt from this. Because board members make decisions during board meetings, most HOAs are concerned about halting operations amid the outbreak. But through HOA remote meetings, your HOA can continue to run without hindrance. In this…
Managing and overseeing the finances of your HOA should be one of the board’s main priorities. That said, many HOA board members may not have experience with HOA financial reports. If you still have questions about financial reports of your association, here’s what you need to know. HOA Financial Reports and The Board’s Responsibility…
Break out your year end accounting checklist, time to close out the year end accounts. Check every box of your fiscal year end closing procedures. Cross out each line of your accounting closing checklist. It’s a lot of work, but we hope this year end closing checklist helps you with your accounting year end procedures.…
Hiring a professional HOA management company is an important decision. There are many factors to consider such as monthly costs and the board’s available time. Some self managed associations can run efficiently through their board members while others need a manager to take over daily operations. Which option is the best for your community? If…
Many board members misunderstand their role when it comes to homeowners association accounting. This becomes a big problem when a financial issue you must handle arises. It’s important to become well-versed in all accounting aspects to better perform your duties in an HOA. In this article: Understanding Homeowners Association Accounting Breaking Down Monthly HOA…
