Simplify Your HOA Accounting with HOA My Way
With HOA My Way, your community can experience the precision of professional services while keeping complete control and transparency. Explore the impact that professional-grade accounting software can have on your self-managed HOA.
Why HOA Accounting Matters
Managing your community’s finances can be daunting. Without professional guidance, mistakes and mismanagement are possible. Additionally, HOA bookkeeping can be time-consuming for busy board members.
However, you can confidently manage your HOA’s finances with HOA My Way’s accounting software for homeowners associations. At HOA My Way, we’ve streamlined operations to offer time-saving services and accurate reporting with unmatched transparency.
Key Features of HOA My Way Accounting Software for Homeowners Associations
Automated Financial Tracking
- Manage income, expenses, and reserve funds effortlessly with real-time data.
- Automatic categorization and tracking transactions.
Budgeting Tools
- Create, adjust, and monitor annual budgets.
- Real-time budget performance tracking.
Account Payable & Receivable
- Simplified vendor payments and assessment collection.
- Secure online payments for homeowner convenience.
Customizable Reporting
- Generate detailed financial reports for board meetings or audits.
- Pre-built templates and custom report options.
Compliance
- Ensure compliance with HOA-specific accounting requirements.
- Provide all information and documentation needed.
How It Works
1
Easy Onboarding:
Step-by-step guidance for setting up your HOA’s financial permissions and transferring all accounting data.
2
User-Friendly Interface:
Designed for HOA board members with no accounting expertise.
3
Secure and Cloud-Based:
Data protection with access from anywhere.
Ready to Transform Your HOA’s Finances?
Get peace of mind that won’t break the bank.
FAQs
With HOA My Way full-service accounting, your community has a dedicated accountant who will handle your accounts payable and accounts receivable, reconcile bank accounts, and compile monthly financial reporting. Communities can enjoy peace of mind, knowing that their accounting is being done by HOA-specialized professionals who help when needed.
HOA My Way’s hybrid solution provides self-managed HOAs with the benefit of professional accounting services and the complete freedom of being self-managed. We provide all the management tools a self-managed community could want and all the accounting services they need.
Yes! Our all-inclusive Budget Builder is an easy-to-use tool for creating and managing your HOA’s budget.
Our Budget Builder is a plug-and-play feature that allows you to add the numbers you need, and the template is completed.
You can consistently monitor the HOA’s budget by examining financial reports, like the profit and loss report, to pinpoint discrepancies between budgeted expenses and actual figures.
There are numerous financial reports under each accounting category. Here is a list of the financial reports you can run anytime, anywhere on the HOA My Way Board Portal: Cash Flow Statement General Ledger (G/L) Chart of Accounts Balance Sheet Profit & Loss AP Aging Summary AP Aging Detail AR Aged Delinquency Summary AR Aged Delinquency Detail.
Yes! Our team can tailor report templates to meet your community’s specific needs.
Because HOA My Way is cloud-based, all data is available in real time, and reports can be updated anytime. Board members can run financial reports from the HOA My Way Board Portal when needed.
Our software tracks all homeowner payments and charges, so it’s easy to identify delinquent accounts. Board members can review the accounts receivable delinquency reports to track delinquent accounts.
Yes! The HOA My Way Homeowner Portal and Mobile App lets homeowners make fast and secure payments. The portal accepts ACH and credit card payments.
Yes! Our HOA My Way accounting software tracks homeowner late fees and is available to view on the homeowner’s account on both the Board Portal and the Homeowner Portal.
Yes! Our software can integrate with any HOA bank account, allowing users to view real-time data anytime, anywhere.
The HOA My Way accounting software platform can support any bank account your community has, no matter how many.
We can’t sync external accounting software because HOA My Way was built as an all-inclusive, one-stop-shop to tackle your accounting needs.