How to Simplify HOA Finances | AR Management Company
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How to Simplify HOA Finances

How to Simplify HOA Finances
  • March 8, 2022
  • Blog

3 Ways Neighborhood Connections Simplifies HOA Finances

When it comes to HOA finances, board members have a lot of responsibilities. One of the most important tasks is its fiduciary role in ensuring the HOA is operating within its budget and that all financial information is properly accounted for. This can be difficult if your board uses multiple sources to manage its finances.

An easy solution boards can implement to simplify their HOA finances is to utilize an HOA management platform like Neighborhood Connections. AR Management’s leading platform seamlessly integrates with your accounting software and provides a secure and accessible location for all your financial documents. It also allows you to monitor the financial health of the community with easy access to financial records such as budgets, balance sheets, bank reconciliations, vendor invoices, and owner account history and delinquencies. This can be a huge time-saver for board members—especially the treasurer—who are already stretched thin.

Read on to learn how Neighborhood Connections benefits your HOA accounting and financial needs.

Automates Financial Information

Neighborhood Connections offers boards the ability to automate financial documents online into a secure and encrypted environment. This can include:

  • Budgets
  • Balance sheets
  • Income statements
  • Accounts payable reports
  • Cash disbursement ledgers
  • Work orders

Collaborate with Users

The platform is designed to promote transparent collaboration among board members, property managers, and homeowners. You can easily share unique permissions with others to view or edit financial documents, making it easy for everyone to stay informed.

Organizes Documents

Having all your HOA’s accounting information in one place will help you stay organized and ensure that all financial tasks are handled efficiently. Neighborhood Connections gives boards the ability to organize documents in a way that makes sense. You can create and organize folders so that you’ll never lose important documents again. This is extremely important for data retention when it comes time for audits, annual meetings, and where past HOA financial records are needed.

Contact AR Management to Schedule a Consultation

If you’re looking for an HOA management platform that is easy to use and provides all the features you need, consider Neighborhood Connections. Our platform has been designed specifically for HOAs, making it the perfect solution for your organization. Contact us today to learn more about how we can help simplify your HOA finances!

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