HOA Accounting Software

Started by JoeB23 • 9 replies • 618 views

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JoeB23 (Florida)
Posts: 13

Posted:

I am on the Procurement Committee for an HOA with more than 1,900 homes. We are looking to replace our existing Financial Software that will track HOA payments, resident information, Account Receivables and Payables, and of course generate required financial reports. We would also like to use the software to communicate with residents via email and text. Any suggestions for a robust system that is currently used by your HOA will be appreciated.

BTW, the existing system is not conducive to HOAs. It was used by the former controller who brought it with him when he was hired and he adapted it to the HOA but it is very difficult to navigate and use.

SheliaH (Indiana)
Posts: 6,964

Posted:

The posting rules for this site don't all naming actual companies. You may have to Google His financial software and see what comes up. Look for vendors in your area and then start sending requests for proposals and go from there.

You could also consider hiring a bookkeeping company that will do this for you or even a property management company that will do all that and mire. Just be sure you do your due diligence by checking references and having your association attorney review the contract before it's signed.

And since we're talking financial information, it wouldn't hurt to ask how individual financial information will be protected from identity theft. Ditto on safeguards against misappropriation of funds.

If it is not right do not do it; if it is not true do not say it. Marcus Aurelius

GeorgeS21 (Florida)
Posts: 3,808

Posted:

It would seem with 1900 properties that you need a management company, but perhaps have been getting by with just an accountant?

A management company should have their own system, their own software and personnel trained to manage it.

A bit more information, please?

MarkW18
Posts: 1,290

Posted:

Quote:

Posted By SheliaH on 03/07/2020 2:02 PM
The posting rules for this site don't all naming actual companies. You may have to Google His financial software and see what comes up. Look for vendors in your area and then start sending requests for proposals and go from there.

You could also consider hiring a bookkeeping company that will do this for you or even a property management company that will do all that and mire. Just be sure you do your due diligence by checking references and having your association attorney review the contract before it's signed.

And since we're talking financial information, it wouldn't hurt to ask how individual financial information will be protected from identity theft. Ditto on safeguards against misappropriation of funds.

We allow people to say they use Quickbooks all the time. We also allow Microsoft and Word and Excel and Access to be mentioned as well.

MarkW18
Posts: 1,290

Posted:

Joe

I am assuming that with 1900 homes you have your own employees running the association, and need to update to a software package that is HOA specific.

JoeB23 (Florida)
Posts: 13

Posted:

MarkW18 Thank you for your reply. I will email you since you are the only one who understood my question.

For the rest of the replies, nothing was mentioned in my post about a management company. I did not ask about a management company so I don't know why any of you mentioned it.

Please respond to the question asked. If a posting wants your opinion on another matter, they would ask for it.

GeorgeS21 (Florida)
Posts: 3,808

Posted:

Joe,

Several mentioned it, because it is a reasonable question, given your circumstances.

Many of us answer questions from posters, and many of us find a need for more information.

Btw, if I want to ask a poster a question, I will do so.

I hope you are more pleasant in your interactions in your community.

GenoS (Florida)
Posts: 4,276

Posted:

Quote:

Posted By JoeB23 on 03/20/2020 3:46 PM
MarkW18 Thank you for your reply. I will email you since you are the only one who understood my question.

For the rest of the replies, nothing was mentioned in my post about a management company. I did not ask about a management company so I don't know why any of you mentioned it.

Please respond to the question asked. If a posting wants your opinion on another matter, they would ask for it.

Aye, aye, sir!

GeorgeS21 (Florida)
Posts: 3,808

Posted:

Sigh.

Perhaps it’s the current pandemic, but we do get some interesting posters.

GenoS (Florida)
Posts: 4,276

Posted:

I think more than a few people are more than a little wound up over the virus outbreak.

My county had 0 cases on Wednesday. Thursday morning the count went to 1. Thursday night it went to 2. Today it rose to 3. Meanwhile a relative of 2 of our homeowners flew into Orlando yesterday from New York, a hotspot for the virus. She was swimming in the pool today and a few of us were sitting on the clubhouse deck and watched her enter the pool without showering first (which is a Rule here even without any virus emergency). And a 3rd TSA agent in Orlando tested positive this morning.

Just have to take deep breaths and try not to get freaked out.

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