Community Association Expenses

Predicting and Accounting for Community Association Expenses

Taking charge of a community association budget requires a great deal of planning and preparation and detailed, accurate record keeping. While some community associations employ a property management accountant to handle their financial affairs, others share the responsibilities between their board members and volunteers. In either case, predicting and accounting for annual expenses is a […]

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How to Stop Using Quickbooks and Manage Your HOA More Efficiently

Are you considering alternatives to Quickbooks? If you are a board member managing an HOA, there are certainly more tools at your disposal that you should contemplate. Sure, Quickbooks is great for bookkeeping and invoicing, but it is not the most efficient software for comprehensive HOA management. We don’t have to tell you that community […]

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Basic Requirements of HOA Accounting and Reporting

As a Homeowners Association Board Member, you have many responsibilities and duties regarding your residential community, and one of the most important among them is accountancy. Though your HOA is not profit-driven, the association still handles revenue and incurs expenses like any other business organization. It is, therefore, essential that you feel informed about the […]

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Reduce Your Accounts Payable Workload by Half in 2022

Accounts payable (AP) is the bane of every property manager’s existence. Every month, you have to process an assortment of mailed and emailed invoices from contractors and vendors, enter them into your software system, reconcile if necessary (which it always seems to be), pay them on time (or not)… and that’s just for one community! […]

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How to Leverage HOA Technology to Reduce Operating Costs

A considerable part of a Property Manager’s job revolves around controlling expenses. Property maintenance, community visits, and homeowner communications all necessitate additional workforce and relevant costs. Each purchase and labor expense must be analyzed to ensure that the expenditures are not greater than the profit. Fortunately, we live in a time where technology is at […]

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Calculating ROI for Property Management Software

Asking yourself if property management software is worth the cost? We have a hunch that once you realize how much you’ll reap in savings, you’ll be ready to make the investment. An ROI calculation can help you get an idea of how much you’ll save. ROI stands for return on investment, and it reveals whether […]

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What Do I Need to Prepare for a Year-End Audit?

Let’s wrap up 2021 with this free one-hour webinar dedicated to preparing for your community association’s year-end audit. Our VP of Financial Services Division, Vishnu Sharma, provides an overview of the community association industry, financial reporting requirements, and more! Here’s what you can expect to learn from this webinar: Community association industry overview Financial reporting […]

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Getting the Most Out of TOPS [ONE]

Many property managers are trying to find ways to increase their efficiency and save time. The best way they can do this is by implementing TOPS [ONE] into their business. Adopting the right property management software will simplify your daily operations from managing finances to engaging with homeowners and working with vendors. Let’s look at […]

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5 Easy Steps to Move to TOPS [ONE]

Property management companies are busy! TOPS [ONE] alleviates time spent on most tasks. For example, a TOPS client saves 250 hours per month in community visits. Site visits that used to take two hours, now only take 45 minutes with the all-in-one property management solution. We get it…when it comes to change management, it can […]

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How The Right Technology Helps Increase Your Team’s Overall Efficiency

The average annual percentage of labor productivity dropped between 2007 and 2019, coincidentally at the same time when the modern-day versions of smartphones rolled out. Did technology cause a massive drop in productivity? Technology can be a blessing or a curse to businesses. Still, it’s no secret that applying the right technology is an asset […]

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