Online Payment System

Started by ConchoP • 16 replies • 484 views

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ConchoP (Texas)
Posts: 208

Posted:

I'm the treasurer for an HOA that has about 408 homeowners with a project total to be 750. Currently, we use Quickbooks Desktop and send out E-Invoices for homeowners to pay from. They have to fill out an Email Agreement before getting the E-Invoice. I would like to try to stop taking checks because of the time it takes to record. Only a few 100 homeowners are paying by credit card.

I would like to set up a payment system online that will integrate with Quickbooks Desktop. From what I can tell Shopify should work.

What does everyone else do?

MelissaP1 (Alabama)
Posts: 13,836

Posted:

I don't believe you can legally stop accepting checks. It's an legal option to pay one's bills. So maybe offering more options for payment but not accepting checks may not be one of them.

Former HOA President

ConchoP (Texas)
Posts: 208

Posted:

good point, I would still like to know what others do.

ConchoP (Texas)
Posts: 208

Posted:

but restaurants do it all the time. what makes that different?

MelissaP1 (Alabama)
Posts: 13,836

Posted:

If push comes to shove, checks have to be accepted. It's that most chinese do not trust checks. So they don't accept them. Marriage license don't take checks either but it's due to the nature of their business. A HOA this isn't the nature of their business.

Former HOA President

ConchoP (Texas)
Posts: 208

Posted:

Of course, if someone sent a check it would be accepted. Quickbooks allows for people to pay by check. I
we will just have to push to use that feature and let homeowners know that if they pay via check it will be processed as an e-check manually.

SheliaH (Indiana)
Posts: 6,964

Posted:

Our property manager collects our assessments. We have a coupon system, but I suspect we'll over half of the homeowners pay electronically. Some have automatic debits of their bank account, some (like me) pay through our bank's online bill pay and others pay through the property manager's online bill pay, although there's a convenience charge.

Why not talk to your community's bank about online bill pay and the type of systems that could be available to you. Get some numbers on how much it'll cost compared to what you're doing now. That can help you encourage people to pay online. However, you will still need to make check payments an option, as some of your older homeowners may not have internet access or trust online bill pay. If you can encourage the majority to pay online, it shouldn't be a problem for you to handle a few paper checks

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

JohnC77 (California)
Posts: 562

Posted:

For a HOA that will build out to 750 units, using Quickbooks is a JOKE!

ConchoP (Texas)
Posts: 208

Posted:

I'm not having issues with Quickbooks, we purchased the 2019 Pro..like anything it has its limitations but overall I"m happy.

I think I"m going to talk to the other board members to see how they feel about letting people know if they pay by check by mail it will be entered into QB manually so it can be processed as an E-Check and their check will be shredded. This way they can still send a check by mail if they want.

GeorgeS21 (Florida)
Posts: 3,808

Posted:

750 properties without professional property management is an unreasonable solution.

I strongly recommend your HOA immediately hire a well credentialed property manager.

JohnC46 (South Carolina)
Posts: 14,265

Posted:

Quote:

Posted By GeorgeS21 on 01/30/2021 8:17 PM
750 properties without professional property management is an unreasonable solution.

I strongly recommend your HOA immediately hire a well credentialed property manager.

I agree.

CathyA3 (Ohio)
Posts: 6,299

Posted:

I also agree about having a competent property management company in a community this large.

Our PM company handles the money, and assessments were sent to a bank lock box. Homeowners have the option of:

* sending paper checks with coupons (no fee)
* authorizing ACH transactions (no fee, the PM "pulled" the money from our accounts each month)
* using our own banks' bill pay systems (no fee, our banks' "pushed" the money to the association's bank
* doing e-checks (small fee for this) or
* paying by credit card (larger fee).

As an owner, I prefer using my bank's bill pay system. I control the transaction, it's always done on time and correctly, and my monthly statement is proof of payment.

[ Can't comment on Shopify since I own shares of the company. :-) ]

ChrisE8
Posts: 454

Posted:

Clickpay is what most HOAs use, from what I can tell.

JohnC77 (California)
Posts: 562

Posted:

Quote:

Posted By ChrisE8 on 01/31/2021 7:40 AM
Clickpay is what most HOAs use, from what I can tell.

Does it integrate with Quickbooks?

ChrisE8
Posts: 454

Posted:

I don’t know if Clickpay integrates with Quickbooks but it’s likely a relatively advanced platform.

JohnC77 (California)
Posts: 562

Posted:

I am curious, is this a regular HOA, or a mobile home or RV HOA? I question because of the large number of credit card payments.

I am curious also if you are still under developer control being you still have 350 units to complete.

While you may think you may not need professional management, you should strongly consider professional HOA software and bank with a a company that specializes in HOA banking. The software will be specific or can be customized for the codes with your state.

If you were to send out coupon books prior to the beginning of a fiscal year, you could actually not ever worry about having to input check manually again, outside of maybe one or two monthly.

You could have units setup on ACH and the balance send payments through a lockbox setup specifically for your account.The software has a web portal for owners to view association information. You can handle maintenance and violation issues through the software, handle 1099's for vendors.

If the board runs the HOA, you might consider a management company that uses such software just for financials, as they have the banking relationships to run that part smoothly. If you need maintenance and violation tracking, you can do that ala carte.

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