Accounting &
Financial Management
We brings a wealth of experience in offering accounting and financial management services to homeowners associations.
HOA Solutions brings extensive experience in providing accounting and financial management services tailored to homeowners associations. No matter the size of your association, we offer exceptional accounting, tax return preparation, and payroll services. Our team handles all aspects of accounting and financial reporting, ensuring adherence to accepted accounting principles. We understand that reliable and accurate financial reporting is essential for Board Members to maintain confidence in the Association’s financial health. In addition, Prime Property Management Group will manage all accounts receivable and accounts payable functions for your community, homeowner association, cooperative, or common interest development.
Accounting and Financial Management Includes:
We record transactions to maintain accurate, up-to-date accounts, manage accounts for tracking income, expenses, and assets, create balance sheets, income, and cash flow statements, and provide regular financial updates to the Board and stakeholders.
We develop a comprehensive annual budget outlining anticipated income and expenses, project future financial needs for major repairs and improvements, and analyze variances between actual performance and the budget to identify areas for improvement.
We manage the collection of homeowner dues, fees, and special assessments, create and send invoices for assessments and other fees, monitor and follow up on overdue payments with reminders and payment plans, and handle various payment methods, including checks, credit cards, and online payments.
We manage and process payments to contractors, suppliers, and service providers, review invoices for accuracy and proper fund allocation, ensure all expenses comply with the approved budget, and reconcile accounts to maintain accurate financial records.
We conduct reserve fund studies to determine future capital needs and establish reserve levels, track and manage fund allocations to reserve accounts, and provide detailed reports on reserve fund status with recommendations for future contributions.
We manage payroll for association employees, ensure timely and accurate payroll tax filings, calculate wages, overtime, and manage benefits programs, and offer convenient direct deposit for employee salaries.
We coordinate with external auditors for annual financial audits to ensure transparency and accuracy, implement and maintain internal controls to prevent fraud and ensure proper accounting, and regularly review financial statements for accuracy, identifying discrepancies or areas for improvement.
Choose one of
Our Packages
- Budget Preparation and Planning
- Assessment and Dues Collection
- Accounts Receivable & Payable
- Cash Flow Management
- Reserve Fund Management
- Bank Reconciliation
- Financial Reporting & Disclosures
- Tax Preparation
- Escrow Assistance
- Collection
- Annual Disclosures
- Includes Basic Package
- Physical Meeting
- Virtual Meetings
- Property Maintenance and Repair
- Property Inspections
- Proposals and Contracts
- Enforcement of Governing Documents
- Election
- Records & Correspondence
- Newsletters and Notifications
- 24/7 Emergency Service
- Includes Basic Package
- Virtual Meetings
- Property Maintenance and Repair
- Proposals and Contracts
- Enforcement of Governing Documents
- Election
- Records & Correspondence
- Newsletters and Notifications
- 24/7 Emergency Service
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Copyright © by HOA Solutions. All rights reserved.
Copyright © by HOA Solutions. All rights reserved.