Most communities only need strong accounts payable and accounts receivable systems to effectively manage HOA finances. 

Condos/HOAs are encouraged to do a reserve study every 3-5 years so the reserve budget reflects the community’s current financial situation.

Both accounts payable and accounts receivable are important elements of condo and HOA management accounting.

Communication and planning will be critical in order to confidently lead your corporation or association through inflation in 2023.

Automating HOA fee payments requires the association to invest in a payment processing platform. Read this article to learn more.

Having an online payment system could give you back many valuable hours which you could use to take care of other responsibilities.

Managing AP is a lot of work. But it doesn’t have to be so cumbersome. If you feel like you’re drowning in AP paperwork, get rid of the paper!

In order to establish a stronger AP system for your association, accounts payable automation is often the solution.

In order to ensure money is used responsibly, associations create and follow purchasing policies to guide boards, managers, and other staff.

Balance sheets use information from the general ledger to show how much money the association is bringing in and how much is going out.

Did you know that your HOA might be eligible for a grant? Unlike loans, recipients do not have to pay back grant money.

Living in a strata corporation certainly has its benefits, but regular fees must be paid by every strata member.

In most cases, when given the opportunity to pay online, tenants adapt or may even prefer online payment options.

Good or bad, board members need to know what their numbers look like so they can plan for the year ahead and make necessary adjustments.    

A treasurer’s report captures an HOA’s expenses and revenue for a certain time period. Reports may be presented monthly, or less frequently.