Many boards confuse HOA bookkeeping with accounting. While these two may seem similar, they address very different issues. It is important to understand the role of each practice so that the board can hire the right support and keep the association on track. ...
An HOA audit can reveal hidden problems with an association’s finances. Some states require associations to perform an annual audit, while others do not. Regardless, an audit poses several benefits, from shedding light on poor financial decisions to uncovering...
The HOA financial statements play a key role in the long-term success of a homeowners association. They give board members a detailed look at the association’s current financial health and allow them to make informed decisions. These statements show homeowners...
