TOPS [ONE] includes TOPS Pay, an accounts receivable and payable feature that has proven to be a big time saver for Judy.
The older TOPS version required too many steps to verify when a payment was posted. Judy used to spend half a day on bank reconciliations every month. Now, with TOPS [ONE], the process is seamless, and bank reconciliations take Judy less than an hour.
“The great thing about TOPS Pay is it’s clear when the payments are posted in the system,” Judy said. “Plus, I get a report each day on which payments are made and posted. I’m able to reconcile my bank statements so much faster, because what’s in TOPS Pay exactly matches what hits my bank.”
Judy also appreciates the convenience that TOPS Pay offers homeowners. TOPS Pay plus the built-in owner portal enables residents to pay their dues online through recurring credit card payments or ACH direct debits. Since the launch of TOPS [ONE], about 25% of Fair Oaks Ranch residents now use the owner portal to pay their dues.
This is significant for Fair Oaks Ranch, which for a long time had mostly retired residents who still preferred to pay by check. Now younger, more tech-savvy families have moved into the community, and they are taking advantage of online payments.
The owner portal doesn’t just facilitate payments. It also eases two-way communications among the board, the staff, and homeowners. Residents use the owner portal to make service requests as well as access the document library to view the property’s bylaws, member directory, and the board’s monthly agenda and financials.
Before TOPS [ONE], Judy used the FORHA website to post documents, although a public-facing website wasn’t a good solution for a private community. She also used a third-party HOA system. However, the streamlined processes and time saved Judy experienced with TOPS [ONE] eliminated the need to use those other systems for homeowner communications.
“The document library on the owner portal has really helped us a lot. The owner portal, TOPS Pay, and the document library have cut down the number of phone calls to our office by 50%.”
Judy loves the automated reporting capabilities of TOPS [ONE]. With TOPS IQ, she couldn’t print reports. Instead, she had to pull out the information she needed and then cut and paste everything into a PDF.
The manual task of creating reports was a lot of work and increased the possibility of errors. But with TOPS [ONE], Judy can generate a report in a flash and feel confident that it’s accurate.
“Being able to generate a statement on demand and just email it to the homeowner is a really nice TOPS [ONE] function,” she said.
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