HOA Accounting Software: From Paperwork to Pixels

You walk past your dining room table, which has somehow become a substitute desk-slash-filing-cabinet-for-the-HOA. Instead of dinner guests, it hosts teetering towers of bills, forms, receipts, and checks. Your stomach gives an anxious twist, and you think, Did the Pattersons’ check for their garbage can fine ever turn up? I haven’t lost it, but… I don’t know where it is. For the tenth time, you dig through a manila envelope crammed with homeowner rolls, receipts, and vendor invoices. Still no sign of that check.

If any of this feels familiar, first, your neighbors owe you (and your dining room table) generous thanks for all the ways you serve your HOA. But, second, wouldn’t it be nice if you could get rid of all those papers and reclaim your dining room? Wouldn’t it be amazing to simplify your HOA responsibilities? We can’t guarantee you’ll get the thanks your sacrifice deserves, but we can tell you that it’s possible to simplify all your paperwork and take back your table. HOA accounting software will be a game-changer and sanity-saver for you and your association–and making the change won’t be as complicated as you think.   

Accounting Software for Homeowners Associations Doesn’t Have to Be Difficult

Letting software do your work is likely a whole lot easier than whatever “system” you inherited from your predecessors. Here are a few ways accounting software for homeowners associations can simplify your life:

• Take the pile of papers off your dining room table and store it digitally and securely. Next time you need to find a form, bill, or receipt, you can easily look it up online.
• Are residents pestering HOA leaders with requests for online payment options? Now you can finally say yes, because accounting software makes it easy to charge fees and dues digitally. 
• Tired of that duct-taped ledger and clunky QuickBooks? Accounting software for homeowners associations is specifically designed to meet associations’ accounting needs.

And here’s the best news: You can switch to HOA accounting software without a PhD or accounting degree. PayHOA’s onboarding provides generous support and training, and we can even help import your data. We’ll walk you through the transition, step by step, and we’ll train your HOA team on the software so everyone feels confident using it and no one misses a step.

Manual HOA Management Is Risky

Transitioning to accounting software isn’t just about simplifying your life and reducing your workload; it’s also about security. Manual HOA management carries significant risks. Some papers on your table contain sensitive financial and personal information that the HOA is responsible for protecting. As you may have experienced, it’s far too easy to lose track of paper forms and paper checks. Manual management also leaves you vulnerable to charges of insufficient visibility and transparency with the HOA’s information, finances, and decisions. Accounting software for homeowners associations makes it easy for you to:

• Store forms securely.
• Post meeting agendas and minutes publicly.
• Invite owners’ input through voting and surveys.
• Share regular, accurate budget reports so neighbors always know where their money is going.
• Post policies and proposals for the entire community to review.
• Automate your billing, and accept digital payments so you never lose another check.
• Track income and expenses easily.

The truth is, your residents expect their HOA leadership to do all those tasks, and HOA-specific software makes it easy for you to fulfill their expectations. Visibility and transparency protect and preserve the trust your neighbors have placed in you, while also giving you the peace of mind that comes from knowing you’re honoring that trust.

QuickBooks and Excel Aren’t Designed for HOAs

Maybe you’re thinking, But we already use software. We use QuickBooks and Excel, and they are… well, they’re not perfect, but they’re getting the job done. Sort of. I know they’re inefficient, but the idea of transferring our data and learning new software feels overwhelming. Transitioning to new software can feel intimidating, but it’s not nearly as difficult as it sounds. And in the end, HOA-specific software is much easier to work with than cumbersome applications that weren’t designed to support the kind of work you do. Here are a few facts to consider:

QuickBooks was designed for businesses, not HOAs. 

QuickBooks handles “customers,” not “residents,” which requires you to do all kinds of workarounds when properties change hands. 

QuickBooks wasn’t intended to send mass invoices. 

When you use accounting software for homeowners associations, you can easily bill every resident at the same time. Residents log into their owner portal, view their bill, and pay. They can even set up auto-pay so they never miss a payment.

QuickBooks can’t communicate with your residents. 

With HOA-specific software like PayHOA, you get more than just accounting support. You can also send and receive messages and post announcements, keeping an open line of communication with your community. 

Excel doesn’t automate.

Excel requires you to add information manually, enter mathematical formulas to ensure you get the results you need, and then manually check for errors. Accounting software can automate many of these tedious tasks, saving time and reducing the risk of human errors.

Excel can’t link to your bank accounts. 

Excel tracks numbers and lists, and that’s nice, but your HOA’s job is much bigger than numbers and lists. Not only does PayHOA’s software organize and update your information automatically, it also syncs your ledgers and bank accounts. This means your financial information is always correctly updated in real-time, and you’re not toggling back and forth between applications, trying to keep all the information straight. 

Outsourcing to Property Management Companies Is Expensive

Maybe you’re thinking, What if we look into hiring a property management company? Wouldn’t that be easier? 

Honestly? Probably not. Property management companies are notoriously difficult to deal with and may create bigger headaches than the ones you’re currently managing. Property management companies aren’t always secure or responsible, and they add a large, unnecessary line-item expense that gets passed on to your residents. 

Accounting software for homeowners associations provides a great happy medium for HOAs who want to remain independent, but also need more support and less on their plates. You can enjoy the freedoms of self-management while simplifying some of your more complex and time-consuming tasks.HOA Accounting Software Is Affordable, Accessible, and Built for You

You’re working hard for your neighbors because you care. Accounting software for homeowners associations can help you work smarter, not harder. It can free you up to use your creativity and determination in more fun ways–like planning neighborhood get-togethers or dreaming about future neighborhood improvements. And you can feel confident you’re doing right by your neighbors because PayHOA’s highly-rated software is affordable, accessible, and designed to meet your HOA’s needs. 

Affordable

If your HOA has been paying a la carte for an inefficient system, paying monthly fees for QuickBooks and other software, plus paying separate fees for accounting and legal support, HOA accounting software can save you money. Stop paying for multiple softwares that still don’t meet all your needs–switch to an HOA-specific software that does everything you need, all in one place. 

Accessible

Accounting software takes the papers off your table and stores them securely online, where they’re always organized and accessible to appropriate parties. Each time you log into your central dashboard, you’ll access real numbers and real-time community data, so you always know where your budget stands. And all of your important information will be readily accessible to your leadership and community. 

Built for You

Accounting software for homeowners associations is designed to meet the tasks and problems you encounter daily. Software makes it simple to:

• Bill everyone at the same time while also providing multiple payment options.
• Automate late fees and penalties.
• Communicate with your entire community from a single hub.
• Sync your bank account and ledger automatically so you always know where you stand.
• Produce regular reports to help you budget realistically and avoid shortfalls.
• Pay vendors on time.

Ready to reclaim that table? 

You love serving your community, and you’d probably love to serve dinner in your dining room again. If you’re ready to spend less time with your neighbors’ paperwork, and more time with your neighbors themselves, accounting software for homeowners associations can make that happen. Contact PayHOA to find out how easy the transition can be.