QuickBooks Vs. HOA Software
QuickBooks or traditional HOA software?
That is a question communities face when it comes time to pick the best solution for your community accounting. It’s true QuickBooks will work for any HOA and allow you to handle your accounting in one system. However, this may not be the best option. There are plenty of options out there right now for HOA accounting solutions, including TOPS [ONE]. While QuickBooks may be a big name, it will be limited on features it can provide your community and will not work as well for your community as TOPS. If you’re still using QuickBooks for your HOA accounting, here are some things you should think about.
Do More with Personalized Accounting
The biggest drawback of QuickBooks is that it isn’t specifically designed for HOA and community accounting.
QuickBooks offers more of a one size fits all accounting software. It is designed to work for any industry and offer basic accounting for businesses. While this may get the job done, it doesn’t allow a community manager to dig deep into their financials and bookkeeping. TOPS however can do more than just basic accounting for community managers. TOPS offers an accounting software designed specifically for communities so you are able to do more compared to QuickBooks. It isn’t just normal accounts payable and receivables. You can handle collections, payments, vendor bookkeeping, and so much more with TOPS. With software designed specifically for HOAs, any feature you could want is right at your fingertips.
Perhaps the biggest advantage TOPS has regarding financials is the ability to collect money. QuickBooks handles general accounting so it can keep you on track with your collections and expenses. However, with TOPS your residents can directly submit their payments on an automated system. This gets you money faster and keeps your records accurate, QuickBooks doesn’t have this feature. It not only saves time; it leads to more accurate reporting. This makes managing your community an easier task.
Go Beyond Accounting
With TOPS, you can do more for your community than just manage accounting.
TOPS offers an entire software solution to meet any needs of your day-to-day tasks of managing a community. Like QuickBooks, you can manage your accounting, but you can manage the non-financial aspects of your community also. TOPS has a community messaging system that allows you to send mass emails, voice broadcasting, or text messages to your community. This can be used during disasters like hurricanes, floods, and more to help keep residents informed. TOPS advanced portals helps both your board and residents. Residents can submit work orders directly from the portal, allowing you and your staff to act fast. These features give you a major advantage as a community manager and helps save time working from one system.
Make the Change
If you’re still on QuickBooks you should consider making the change to TOPS.
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