Category Archives: Accounting

How to Choose the Right CPA for Condominiums and Homeowners Associations

How to Choose the Right CPA for Condominiums and Homeowners Associations

How do you choose the right CPA for your COA or HOA?  Every condo association is made up of different independent departments that work hand in hand to ensure the smooth running of the HOA. Most of these departments rely on proper condo financial foundations, strategies, and budgets to carry out their different responsibilities to […]

Ways To Increase HOA Cash Flow Without Raising The Fees

Ways To Increase HOA Cashflow Without Raising The Fees

Want to improve your COA’s cash flow? The size, growth, and projects in a Condo mostly depend on its community. Projects are mapped out, planned, budgeted, and determined to be important to a condo when community members are involved. This is because they are the ones to pay the fees and the special assessments when […]

HOA Budget Preparation: 8 Steps to Prepare Your COA Budget

HOA Budget Preparation 8 Steps to Prepare Your COA Budget Cover

Budget Preparation Budget preparation is an essential part of every association’s finances, no matter the time frame – quarterly or annually. For homeowners associations, a well-drafted budget must be prepared as a new financial year approaches, but not all associations know how to draft an HOA budget. An HOA budget is essential to the financial […]

HOA Control Procedures: 7 Types of Internal Control Procedures

HOA Control Procedures 7 Types of Internal Control Procedures

Control procedures for HOAs and COAs are critiical.  Businesses are built to grow and expand. Entrepreneurs put their money into businesses to see that it scales and expands to yield profits. It makes no sense that any business-minded person would put his money into a business lacking growth and does not have any plans to […]

HOA Balance Sheets: 4 Important Things to Know

HOA Balance Sheets: 4 Important Things to Know

Every business uses a balance sheet. HOA balance sheets are crucial to understanding the distribution of finances. Money coming in, money used for equity, and money going out need to be tracked at all times. The tracking of finances through financial sheets is important because condo associations depend on the availability of finances for maintenance […]

4 Tips to Save Time on Your Accounts Payable Processes

4 Tips to Save Time on Your Accounts Payable Processes

For most modern businesses out there, account payable is one of the top-stake tasks there is. After all, every business should be able to pay what it owes – you should not get this wrong. It is no secret that managing invoices accurately is a vital key to maintaining good relationships with your suppliers. A […]

3 Reasons Accounting Professionals Should Run Your COA Books

3 Reasons Accounting Professionals Should Run Your COA Books

Do you live in a home or condo that is part of a community association? Many people do. Have you ever considered who is running the books? The association’s finances can greatly affect everyone who lives in the community, so why would anyone ever leave the books to a novice? Why Hire a Professional When […]