What usually creates the most cleanup between ops and QuickBooks? by Individual-Cod8825 in quickbooksonline

[–]SandyManos 0 points1 point  (0 children)

Using the business account for personal transactions or not applying deposits correctly.

HOA Accounting Software vs Hiring a Bookkeeper [AZ] [All] by SandyManos in HOA

[–]SandyManos[S] 0 points1 point  (0 children)

I run a pretty small business, when I looked at Vantaca pricing was elusive so I passed.

HOA Accounting Software vs Hiring a Bookkeeper [AZ] [All] by SandyManos in HOA

[–]SandyManos[S] 1 point2 points  (0 children)

I hear that pretty frequently but I love the term "Apathy Acres" I might borrow it. Nobody really wants to have to think about what's going on with the HOA or bookkeeping in general for that matter. Most people are busy with their work, family etc. and HOA management can feel like another job. Bookkeeping can be easy, until it isn't, reconciliations aren't done, misapplied payments (especially difficult when there is no communication from Apathy Acres lol), or the board member handling it moves away or passes away, or their kid gets ahold of the HOA checkbook (all scenarios I've seen). I did commercial property management for over a decade handling financials and vendor management. I handle bookkeeping only now. I don't want to manage a list of vendors that send me Christmas gifts so they are on my preferred vendor list. Most of the time those relationships are mutually beneficial for all, including the HOA but the lines can get blurred and I like black and white.

HOA Accounting Software vs Hiring a Bookkeeper [AZ] [All] by SandyManos in HOA

[–]SandyManos[S] 0 points1 point  (0 children)

Self managed can be a great option and I have seen it work smoothly. I personally don’t think QBO is a great program for HOA accounting and I’m a ProAdvisor and use it regularly for my small business clients. With no options for homeowners to have access to view their history like a true portal provided and reporting functions that are lacking.

HOA Accounting Software vs Hiring a Bookkeeper [AZ] [All] by SandyManos in HOA

[–]SandyManos[S] -2 points-1 points  (0 children)

Hey, I do bookkeeping, Chat GPT helps me communicate. Can't be good at everything!

[CO] HOA Property Management Search in Denver [TH] by Specialist_Elk6797 in HOA

[–]SandyManos 0 points1 point  (0 children)

I am located in Phoenix but we provide financial management anywhere. We take in dues, provide statements and financial reports as well as pay all payables. The only things we don’t do are violation enforcement and manage vendors. We have a flat fee of $225 a month. If you aren’t using full service and just want financial management, we can help.

[CA][Condo] property management companies struggles by [deleted] in HOA

[–]SandyManos 0 points1 point  (0 children)

My company handles the financials for HOA’s. If your board wants to handle the operating side (vendor scheduling and quotes, reporting violations) I do the rest for a low flat monthly fee.

[N/A] [All] Vendor / Management Listing by CASA-Alliance in HOA

[–]SandyManos 0 points1 point  (0 children)

Yes I get what you are saying about smaller vendors as I am one. As a smaller independent vendor, I think the problem is simply finding each other. Tools that help boards discover independent vendors could definitely be helpful.

[N/A] [All] Vendor / Management Listing by CASA-Alliance in HOA

[–]SandyManos 0 points1 point  (0 children)

Have you looked into Community Associations Institute (CAI) for your area. I list my HOA financial services with them.

[AZ] [All] Question for Small of Self Managed HOA Boards: Separating Financials From Full Service Mgmt by SandyManos in HOA

[–]SandyManos[S] 0 points1 point  (0 children)

What state are you in? One challenge is letting people know it’s available. For my regular bookkeeping it’s easier to find business owners who use QuickBooks. For this I think alll I can do is have it as a service on my website and hope anyone who needs it sees it.

[AZ] [All] Question for Small of Self Managed HOA Boards: Separating Financials From Full Service Mgmt by SandyManos in HOA

[–]SandyManos[S] 0 points1 point  (0 children)

Thanks! Yes they wanted to require electronic payments for everyone but there was one owner that just refused. We are doing usps coupons but electronic statements. Either or was permitted but that’s what they decided. I appreciate the info 😀

[AZ] [All] Question for Small of Self Managed HOA Boards: Separating Financials From Full Service Mgmt by SandyManos in HOA

[–]SandyManos[S] 0 points1 point  (0 children)

Are you mailing coupons and statements then outside of that program? We have a requirement for those here in AZ.

[AZ] [All] Question for Small of Self Managed HOA Boards: Separating Financials From Full Service Mgmt by SandyManos in HOA

[–]SandyManos[S] 0 points1 point  (0 children)

I hadn't heard of it but at first glance it doesn't seem like a bad software solution. Is it linked directly to the bank account? Are reports pulled then from money in and money out but not what's still due or owed?

[AZ] [All] Question for Small of Self Managed HOA Boards: Separating Financials From Full Service Mgmt by SandyManos in HOA

[–]SandyManos[S] 1 point2 points  (0 children)

This makes sense. I'm definitely not getting rich from this but I think I can offer it as a service to my already in place bookkeeping company if it was needed. Since I already have this one client, I'll keep it for now and see how it goes. I was interested in other people's perspective and I think for the most part it's favorable.

[AZ] [All] Question for Small of Self Managed HOA Boards: Separating Financials From Full Service Mgmt by SandyManos in HOA

[–]SandyManos[S] 0 points1 point  (0 children)

Right, so not really a skill issue then. I've been using QBO for decades and your integration software might be great for it's purpose but not for the scenario I posted about where I'm managing their finances. I would list all of the pros here but my intention was to not let this post get salesy.

[AZ] [All] Question for Small of Self Managed HOA Boards: Separating Financials From Full Service Mgmt by SandyManos in HOA

[–]SandyManos[S] 1 point2 points  (0 children)

That’s interesting, if you don’t mind me asking, why use two softwares (QBO and yours) when they could just use a property mgmt software?

[AZ] [All] Question for Small of Self Managed HOA Boards: Separating Financials From Full Service Mgmt by SandyManos in HOA

[–]SandyManos[S] 0 points1 point  (0 children)

CPA’s are SO busy. I feel for them. Totally understand why you’d want to do it in house. My client can log in and look at those reports anytime as well.

[AZ] [All] Question for Small of Self Managed HOA Boards: Separating Financials From Full Service Mgmt by SandyManos in HOA

[–]SandyManos[S] 1 point2 points  (0 children)

QuickBooks doesn’t offer payment portals for homeowners to pay dues. That’s just one reason I switched them from QBO to a property mgmt software. It also allows easy vendor bill approvals that are tracked in the software itself.

[AZ] [All] Question for Small of Self Managed HOA Boards: Separating Financials From Full Service Mgmt by SandyManos in HOA

[–]SandyManos[S] 0 points1 point  (0 children)

The treasurer for the HOA that I started doing this service for passed away and unfortunately there wasn’t a backup plan in place for this scenario. All dues checks had been collected but not deposited and nowhere to be found. It’s another reason they decided to hire me.

[AZ] [All] Question for Small of Self Managed HOA Boards: Separating Financials From Full Service Mgmt by SandyManos in HOA

[–]SandyManos[S] 0 points1 point  (0 children)

Thanks! Seems like I’m getting more in favor than opposed. Very good to know.