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Does My HOA Need A Full Accounting System?

Kim Brown
Publication date:
December 28, 2022
Article Summary: 

Does My HOA Need a Full Accounting System?

In short, yes, an HOA should have some form of accounting system to ensure financial stability and make informed decisions about spending and budgets. While a full accounting system may not be necessary, an HOA should use some form of accounting software to automate repetitive administrative tasks, reduce human errors, and maintain accurate financial records. The accounting system should manage expenses, invoices, and revenue to provide a clear understanding of the HOA's financial standing. This information is necessary for tax purposes, audits, and to ensure that the HOA is acting in the best interest of all members.


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Source Citation: 
Kim Brown
Does My HOA Need A Full Accounting System?
December 28, 2022
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