What you can expect
At Berel Accounting, we provide accounting services for Homeowner Associations (HOAs) and Condo Associations. Our firm understands the unique financial dynamics and responsibilities that HOA boards face. We have developed processes that keep your financials compliant and easy to understand. This allows your board to focus on your community rather than the books.
Our accounting services include monthly billing and collection of dues, ensuring consistent cash flow while keeping homeowners informed and current. We track accounts receivable (A/R) and accounts payable (A/P) to ensure accuracy and transparency. We prepare payments to vendors in accordance with the board’s approval processes. We reconcile bank, credit card, and loan accounts monthly. This ensures your HOA’s financials are relevant and up to date.
Berel Accounting goes beyond routine bookkeeping. We create customized reports like the Balance Sheet, Income Statement, Aged Receivables, and Aged Payables. This gives your board a timely picture of the HOA’s financial health. We assist in annual budget preparation and deliver “budget to actual” reports monthly, or as needed. This makes it easy to monitor spending and plan strategically. We can also manage payroll services, prepare and file annual taxes, and 1099 reporting.
What sets us apart is our commitment to personal service and easy communication. We function as your financial partner, helping to ensure your association runs smoothly and responsibly. Let us bring clarity and professionalism to your HOA’s accounting so your board and homeowners can enjoy peace of mind.
Collect HOA Dues
We bill and collect HOA dues.
Payments to Vendors
We prepare payments to vendors for BOD Approval.
Track A/R & A/P
We track accounts receivable and accounts payable.
Reconciliations
We reconcile bank accounts, credit card accounts & loan accounts monthly.
Generate Reports
We generate reports that you require, such as the Balance Sheet, Income Statement, Aged Receivables, and Aged Payables.
Annual Budget
We prepare an annual budget and provide a “budget to actual” monthly report.
Annual Tax Filings
We prepare your annual tax filings.
Payroll
We can prepare payroll if you need it.
1099 Documents
We prepare 1099 forms as needed.
Choosing the Right HOA Accounting Firm: Key Questions to Ask for Financial Success
Selecting the right HOA accounting firm is crucial for community financial health and resident satisfaction. This guide outlines key questions boards should ask prospective firms, covering their expertise, services, technology, communication, and fee structures. Emphasizing specialized firms like Berel Accounting ensures your HOA partners with a provider capable of navigating the unique complexities of association finances for long-term success.
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