HOA Bookkeeping Agreement

This Agreement is governed by the Master Services Agreement.

Please review the entirety of this agreement to understand the terms of your service. These terms are in place to ensure your success when working with our team. 

HOA Bookkeeping Includes

  • Enter payables (such as vendor invoices, homeowner and management company bills) and approve check runs
  • Enter receivables (such as homeowner payments or vendor reimbursements)
  • Reconcile any bank account(s) related to managing your Trust Account funds
  • Assist with reporting questions and errors, including delinquency, inventory reporting, and Board of Directors reporting may need
  • Assist with entering HOA violation charges and monitoring follow up to relay to Property Manager
  • Supply Secretary/Treasurer with financial reports that would be needed for their HOA meetings, etc
  • Homeowner chargebacks
  • Diagnostics and owner accounting errors and corrections
  • Notify of any red flags in database such as negative property balances, uncleared checks or deposits, etc

HOA Bookkeeping
Does NOT Include

  • Complete check runs (including eCheck and Bill Pay “online” payments)
  • Provide advice or prepare advice on budgets or balance sheet accounting within the Property Management Software.
  • Print and mail checks on behalf of the client
  • Support third party apps (Quickbooks, utility company apps/websites, etc.)
  • Complete bank transfers between bank accounts in real life
  • Research and resolve any issues that occurred before your go-live date. This falls under the umbrella of our consulting team and would be invoiced under our consulting rate of $300/hour
  • Communicate directly with third party vendors, homeowners, or board members. 
  • Attend and or participate in board meetings or homeowner meetings which include virtual meetings

Client Responsibilities

  • Designated point of contact that will work directly with your team
  • Clear and complete communication of tasks via Asana. You should include all relevant details when reaching out to your team (vendor name, GL account number, property, remarks, invoice attachments, etc.)
  • Timely response and completion of Asana tasks 
  • Show up to scheduled calls on time or cancel/reschedule at least 20-minutes ahead of time if you are no longer available at the scheduled time
  • Respectful communication with our team (no use of slurs, foul language, aggressive tone of voice, etc.) 
  • Willingness to adjust processes based on best practices suggested by our team

If any company is in violation of this, we reserve the right to terminate services. You will be notified if any of these terms are violated and presented with a warning.

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