HOA Accounting & Reporting
HOA Accounting Incorporated is your go-to source for convenient, on-line HOA accounting and reporting services. We use one of the industry’s leading software to ensure your needs are met, no matter what they are. As an added bonus, we do it all at an affordable flat price.
HOA Management Services
We understand that you want an accounting and property management service that integrates with the needs of your community. This is one of the reasons that we are the preferred choice of accounting services for HOAs. We not only specialize in meeting your HOA accounting needs, our state-of-the-art system has the abilities to do so much more. This is why we partner with the Board of Directors, as it allows them to manage their community using our user friendly system’s unique functions. In addition, this helps the Board manage their community in a secured environment. When we set up an association, there is on-site training on how to use our user friendly technology at no additional charge.
We provide the following services:
- Monthly reconciled financial reports.
- We handle all A/P and A/R activity including collections.
- Board electronic approval on all checks issued.
- We prepare and submit Annual Budget for Board approval.
- We manage 24 hour system access.
- We handle tax reporting requirements at no additional cost
- Community web portal at no additional charge.
- Multiple secured payment options.
- All late fees collected belong to the association.
Full system functionality at no additional cost including:
- Architectural review.
- Work order management.
- Violation notification.
- Community calendar.
Partnering with Boards
We partner with the Boards to allow them access to our system so they may manage their association at a fraction of the cost of other full service management companies. Unlike our competitors, we provide accounting plus system services at no additional cost. If your Board is willing to do a little bit of the work, then we can help you save a lot of money.
All financial packets are completed by the 15th of each month. Once financial packets are completed, they are posted and will be available to only the BOD for review. Our system will automatically email the BOD members once the financials have been posted.
We assist with the setting up of new HOA’s and will be happy to train a new board on their needs at no additional charge. Although we do not attend regular board meetings, we will assist the board with their agenda and meeting minutes.
We provide full service with the help of the board at more than half the cost.
HOA Management Transparency
Just look around our site and you will see that we are second to none in transparency.
We truly believe that our transparency assists our clients to reduce their costs while increasing value to their association and their homeowners.
HOA Tax Service
Does an HOA pay taxes? It is dependant on the income source of the HOA. Most HOAs’ should pay zero income taxes. Please note that you still have to file your taxes on time. Most associations are simple tax filings and should be able to be completed at a minimal cost. Do not fall for those that say it is very complex and charge hundreds of dollars.
In addition, you will need to send out your 1099 forms. Do not pay someone to send these to companies that are incorporated as they are not required in accordance with the tax code. I have seen too many associations get charged to send out a 1099 to a company that is incorporated just so they can charge their client.
Call us today for a free no obligation quote at 865-361-0039.
For Homeowners
Each homeowner will be provided with a user ID and password to access the customer portal—a secured environment that allows customers to monitor their balances at any time, day or night. All data is live real time data. If a homeowner accesses their account, they will be able to view all communications sent to them or sent to our organization within seconds of the posting, whether it’s an email, letter, violation, work order, or payment. Customers can update their contact information, as well as request email notifications anytime there is activity on their account.
We provide an HOA web portal for every client (at no additional cost). The Board of Directors has the ability to post additional documents such as the bylaws, minutes, newsletters, etc. (we will assist with this).