Homeowner/Condominium Association Services
As the board member of a self-managed HOA, you have a fiduciary responsibility in the overall governance of the community association, and you maintain complete control over all association decisions. From managing all finances, to scheduling maintenance repairs and hiring contractors to work on projects deemed necessary for the community, you volunteer their time because it is important that the neighborhood continues to thrive and flourish.
Reynolds Financial Services understands that financial stability leads to successful Associations. That is why we offer comprehensive and efficient financial assistance by providing accounting, tax and audit services for homeowner’s associations, cooperatives, and condominium associations.
Partnering with the Board of Directors, we offer the following financial management services:
- Monthly and annual financial reports including Balance Sheet, Profit & Loss Statement and Bank Statement Reconciliation
- Consulting and preparation of Annual Budget
- Monthly Actual vs. Projected Budget Report demonstrating the performance of the HOA • Maintain Operating and Reserve Accounts
- Monthly/annual billings sent to homeowners, including annual assessments, late fees, special assessments, and collection fees
- Assessment tracking and aging reports
- Accounts Receivable - Prompt and accurate recording of assessment payments to the HOA • Accounts Payable - Prompt processing and payment of invoices submitted by outside vendors
- Assessing accounting procedures
- Evaluation of internal controls
- Planning for capital expenditures
- Special assessment analysis
- Prepare annual Federal and State tax returns
- Prepare annual Form 1099s to vendors
- Complete Financial Audit
- Agreed-Upon Procedures
- Reviews and Compilations
It is our goal to provide each member of the board with the confidence to make sound decisions for the Association that will control the community’s longevity, reputation, and solvency.
Contact Reynolds Financial Services today at 770-789-1018 to discuss our services for HOA and Condo associations.
Accounting for HOAs
We’re committed to providing sound financial advice and thoughtful planning for every homeowners association we serve. Find out how we can create a package of HOA accounting and tax services to meet your association’s size, mission, and budget. Call our Lawrenceville, GA CPA firm now at 770-789-1018 or request an initial consultation online.