The board approved the study. The funding plan went into the budget. Then the bookkeeper posted one lump transfer a month and moved on. HOA reserve accounting is the practice of recording reserve dues, interest, and spending in a separate fund. Under FASB ASC 972,...
HOA Reserve Fund: How Much Should Your HOA Be Saving? Every community association will eventually face a six-figure repair. The roof ages out, the elevator fails, the parking lot crumbles, the pool needs a full resurface. When that day arrives, the only question that...
HOA Accounting for Boards and Communities HOA accounting is built around two audiences: the board that has to defend the books to homeowners, and the state HOA statutes that dictate how reserves, assessments, and disclosures are handled. Generalist bookkeepers...
Streamline Your HOA Finances with Ease HOA Accounting Services Made Simple: Board Member Guide If you’ve recently joined your HOA board, you’ve probably realized something: managing a community is more than approving landscaping upgrades and organizing holiday...
