HOA Accounting

Trusted financial management for Homeowner Associations

Reliable HOA Accounting Services

At Numerus, we do not see ourselves as just your HOA bookkeeper. Our goal is to be a trusted advisor. We understand that many board members do not have accounting experience and do not have prior experience with running an association.

Our goal is to consult with, and advise your board on best practices to ensure the association's short and long term financial goals are being met. And in order for that to happen, your association's financial health needs to be built on a solid foundation.

✅Industry-specific expertise: 100% focused on HOA/condo association accounting compliance (GAAP standards)

✅Transparent financial reporting: Real-time access to dashboards tracking dues, expenses, and every financial detail for the association

✅Proactive advisor: We alert boards to risks like budget shortfalls, underfunded reserves, and offer advice for long term HOA financial planning

✅IRS-compliance: 1099 processing for all vendors and coordination with your local CPA for annual tax retrns

Comprehensive HOA Accounting Services

Daily Financial Operations

Dues Collection & Tracking: Automated reminders, late fees, online payment portals, and delinquent management
Expense Coding and Bill Pay: Vendor payment processing with board approvals and audit trails
Bank reconciliation: Monthly verification of all accounts including checking and HOA reserve accounts (savings, CDs, etc.)

Monthly / Annual Reporting

Customized reports including:
- Balance sheet
- Income Statements
- Delinquency reports
- Vendor payment history
- Copies of bank statements
Annual financial review and budget preparation
Coordination with CPA for tax return preparation and filing

Strategic HOA Financial Planning

Reserve Study Coordination
Budget planning and forecasting
Loan application assistance
Establish a consistent collections policy

HOA Accounting - Access online dashboards and pay HOA fees online or with the mobile app - Numerus HOA Services

How We Work With HOA Boards

Free Financial Health Assessment
We review your current HOA financial statements to identify risks/opportunities.

Customized Technology Platform
Setup board for secure online access to real-time HOA financial data.
Dedicated Account Manager
One point of contact familiar with your community’s unique needs.
Board Meeting Support
Available to present financials and answer homeowner questions.

FAQs: HOA Accounting Services

Q: What’s included in your HOA accounting services?
A: Our core services include dues collection, expense tracking, financial reporting, budget creation, tax/audit support, and strategic advisory. We can also handle administrative tasks like sending out community notices, delinquent payment reminders, meeting notices, etc.

Q: How much does HOA accounting services cost?
A: Pricing will vary by community size and needs. Most associations can save 20-50% vs. hiring a full service HOA management company. Request a quote.

Q: Is our HOA required to file a tax return?
A: Yes. Even though your association is nonprofit, you still have to file a tax return. Most associations have no taxes to pay, but that does not absolve the federal requirements. The association is still required to report its financial activity to the IRS. State requirements will vary from one state to another. We will work with a local CPA firm of your choice to ensure the HOA is meeting its federal and state tax filing requirements.

Q: Can you help us transition from our current management company?
A: Yes! If you are considering switching from your current HOA management company, we can help you transfer all HOA records, bank accounts, etc.

Ready for Stress-Free HOA Financial Management?

Ready to get started? Have questions? We look forward to hearing from you!

📞 Schedule Your Free Consultation: (866) 686-3787

📧 Email Our Team: hello@numerushoa.com

📝Request a Proposal: Click here

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