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re: QuickBooks Users
Posted on 2/13/17 at 12:07 pm to liuyaming
Posted on 2/13/17 at 12:07 pm to liuyaming
Why are you managing your HOA accounting? That is something that almost every management company does? If they are not good enough at it themselves, no BS fire them now and find someone that does. Its really not that difficult, furthermore a board member really should not be managing the money IMO. You are setting yourself up for a TON of flack from owners and any mistakes can easily land you in legal trouble. If you were an accountant or book keeper that's one thing because you do that as your job, but you must not be in order to ask these questions.
Given that, yeah I'd go with QBO. I access it from my wife's Mac Book, my surface, my work comps, etc. I even use the app's on my Ipad occasionally.
FWIW I've been on multiple HOA boards. If your HOA can't afford to pay a management company to do the book keeping, you need to raise the dues. You are offering a free service that should be paid for by the owners. All I'm saying, is I've seen it over and over when owners try to save money by doing things themselves the first small thing that goes wrong makes a huge PITA for the board and said owner.
Given that, yeah I'd go with QBO. I access it from my wife's Mac Book, my surface, my work comps, etc. I even use the app's on my Ipad occasionally.
FWIW I've been on multiple HOA boards. If your HOA can't afford to pay a management company to do the book keeping, you need to raise the dues. You are offering a free service that should be paid for by the owners. All I'm saying, is I've seen it over and over when owners try to save money by doing things themselves the first small thing that goes wrong makes a huge PITA for the board and said owner.
This post was edited on 2/13/17 at 12:12 pm
Posted on 2/14/17 at 12:45 pm to baldona
quote:
Why are you managing your HOA accounting? That is something that almost every management company does? If they are not good enough at it themselves, no BS fire them now and find someone that does. Its really not that difficult, furthermore a board member really should not be managing the money IMO. You are setting yourself up for a TON of flack from owners and any mistakes can easily land you in legal trouble. If you were an accountant or book keeper that's one thing because you do that as your job, but you must not be in order to ask these questions.
Lets just say we "fired" the management company and I was appointed treasurer. This is a new HOA and there wasn't a clear line between the developer and the management co. Some owners organized a mutiny and we have about $15k of outstanding dues. They wanted to run it themselves before paying, so I agreed (to stop all the flack) to jump on as treasurer-Not a member of the board, but an officer. Being a small HOA (43 owners), I dont see that it will be a problem after i get the quick books up and running.
Thanks for the input, though. I will go the online route. Also, I hate hoa's.
This post was edited on 2/14/17 at 12:47 pm
Posted on 2/14/17 at 12:49 pm to baldona
quote:
FWIW I've been on multiple HOA boards. If your HOA can't afford to pay a management company to do the book keeping, you need to raise the dues. You are offering a free service that should be paid for by the owners. All I'm saying, is I've seen it over and over when owners try to save money by doing things themselves the first small thing that goes wrong makes a huge PITA for the board and said owner.
to this, we have it set up where all checks require two signatures (one board member and myself), but I do see the issues you mentioned. I hope this doesnt last long, because its been a major PITA.
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