Hoa Financial Records

Started by JimM7 • 4 replies • 1569 views

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JimM7 (Florida)
Posts: 71

Posted:

I am one of four new board members on a seven member board. The person elected by the board as treasurer has resigned that position because the financial records where brought to her piecemeal on various disks and with no order. She became so frustrated that her personal computer was overloaded with "junk" she said "no more". I have recomended that the association purchase a notebook computer , printer/copier and associated software. I have voluntered to assume the treasurers duties but ONLY if I will be using a computer/sofware package belonging to the association.
Am I out of line ?

JM2 (Oregon)
Posts: 439

Posted:

Hi Jim:

You might be out of line...here is what I would suggest:
1) Get the files in order, onto one disk (probably a CD-ROM).
2) Check out what program(s) was/were used to create the files.
3) If you have those programs, or one that can convert them, then proceed with your own computer.
4) If not, then either request that the HOA purchase the program for limited use on your computer (until you give up the Treasurer position) or the HOA could purchase a notebook and the program. If the HOA purchases a computer, you would need to be sure that it is only used for HOA business.

From a managerial standpoint, it would be helpful if the HOA had all those files accessible. However, another alternative would be to print everything out and create paper files; then scan to .pdf files and save on the disk, and start out from there with whatever program you have. A lot of copiers now have the ability to scan to .pdf files that are read-only images.

Part of "if you are out of line" depends on the finances of your community. If you have a small budget, a notebook plus programs might be unrealistic. If it's a miniscule part of the budget, then it might not be out of line.

Best of luck with your new position...

J. Patrick Moore, CMCA

BradP (Kansas)
Posts: 2,640

Posted:

Jim:

I think it is reasonable to ask the association to purchase or provide a program for your financials. I do have one suggestions for you, we use a web based program called Quickbooks, the advantage is that we can have up to three people log in to look at the financials and when treasurers change there is no transfering of files or disks, etc. Plus, we don't have to worry about a hard drive crash or lost disks. It is something that has worked for us. Before we went web based our HOA bought Quickbooks and let the treasurer install it on her computer.

ThomasW1 (Florida)
Posts: 5

Posted:

check out the program by tops there are the most user freindly I have seen

JimM7 (Florida)
Posts: 71

Posted:

Thank you all for getting back so quick. I will explain further and then would appreciate comments. The finances of the assoc. do not preclude the purchase of the package. The note book and program with a jump drive backup is much easier to transfer and is portable. The comment about business use only on the assoc. hardware is a must.I will check out the suggested software. I was advised by a business programmer that peachtree first acounting would work just fine for our 444 member association. I really do appreciate the comments and wil pass them on to the other board members. Disks are the problem now. To much "junk". I will establish the data base and then I think I can work it ou for the next guy. Thanks again. Jim

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