There Are Undoubtedly Going to Be Times When Temporary Office Closures Are Necessary It could be due to a natural disaster such as a hurricane, tornado or snowstorm, or it may be a human-related issue like COVID-19. But businesses must continue to operate and the accounting function of your HOA is the most important piece […]

Collections and Cash-Flow Can Be Some of the Trickiest Job Functions for Property Managers Collecting assessments that are due to your HOA is crucial for your association’s finances and cash-flow. However, they can also lead to unnecessary conflict if not handled properly. It is the fiduciary duty of the board members to collect dues and assessments […]

If a Disaster Happens, There Are a Lot of Things That an HOA Board and Its Residents Must Consider (Besides HOA Dues) Gathering supplies, making sure your family is safe, and keeping your home protected are just some of the immediate actions’ residents and HOAs need to take when dealing with an emergency. If for […]

James Ernst, CPA, explains what impact the newly-passed Tax Cuts and Jobs Act will have on Common Interest Realty Associations (CIRAs) beginning Jan. 1, 2018: The Tax Cuts and Jobs Act, that was passed by both the House of Representatives and the Senate, and was signed into law by the President, will have an impact […]

In all the current events that have been dominating the news lately, a recent important announcement may have missed your radar. The announcement came from the AICPA indicating that they will be merging with an international accounting organization to form a brand new association. (AICPA quotes in this article come from the video by Tim […]

Guest Post by James A Bradley, MBA, LCAM (FL) If you ever get the good fortune of working at a bank you will quickly learn that banking has more acronyms than the United States Military. Every once in a while these bank acronyms seep out into the mass public and become a part of our […]

The Board of Directors Has Approved the Annual HOA Budget for This Coming Year An HOA budget is what sets the expected revenue and expenses for the year. It also means the assessment levels for each home in the community has been determined so the collective homeowner assessments equal the total HOA budgeted assessment income. […]

There is a big trendy word these days in business practices: “Transparency”. However, in the accounting field, transparency is not something new or trendy, it’s how we do our day-to-day jobs. Accounting is all about the numbers and how we got them. We have to be transparent in our financial reports and entries. Fudging the […]

The best way to ensure accuracy in your accounting procedures is to follow a consistent process. The community association management accounting cycles provided in this article will give you a standard process blueprint that you can follow. As with any process, you should check your community rules and regulations as well as state laws and […]

Well, it’s happened. You’ve gone and waited until the 11th hour to do your community association (CAM) budgets. It’s not quite the night before the board meeting VERY last minute, but it’s certainly getting there. So how can you get through it in a hurry? Jeff Hardy shows us the first step to get going […]