Transition to Self-Management
Our community is considering a transition back to self-management. There are many software options available. Much of the software is expensive and many do not include bookkeeping. While we can manually process violations and communication for our small community what we really need is an accounting/bookkeeping program that will track our financials in a cost-effective manner.
I appreciate any input and guidance that can be offered here, as always.
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Me Myself
There are many accounting software programs available that you can research online to determine which best fits your needs, I’ve used quicken books in my previous activities but that will take a little learning curve. I can really not provide any real advice here without knowing the skill sets available to you and the complexity of your finances. This is something best determined by your community. I highly recommend that you simply use an accountant/ CPA familiar with HOA accounting requirements and tax laws and let them use the accounting software that they are familiar with and have access to. Many small communities are very capable of managing their community without a professional community management, but it means that the board or community volunteers have to take on the many tasks association with maintaining records, managing contractors etc.
You will save considerable money in doing so.
Dennis