If you’re still managing your HOA using off-the-shelf software, like standard Office suites, there are much better options out there! HOA software has become an established niche, full of features which are designed specifically to support HOA managers. The right piece of HOA accounting software on your side can greatly ease your own administrative burdens, as well as making life easier for your residents as well.
The best options in HOA software are modular – that is, they allow you to pick and choose the software features you want while leaving out anything you don’t need. This allows you to better control the cost of the product, as well as ensuring your software interface isn’t cluttered up with buttons and menus you’ll never use.
However, some features are must-haves. These are the ones you should look for.
Four Must-Have Features in HOA Accounting Software
- Mobile Access
If your HOA software doesn’t have an option for accessing it on the go, you’re already losing a lot of opportunities to make the most of it. Any good HOA management suite is going to be easily utilized via smartphone apps. This gives you greater ability to respond to challenges as soon as they happen while reducing the need for you to be in the office constantly.
- Accounts Payable / Receivable
You can make your life so much better by investing in accounting software that includes full accounts payable/receivable modules along with payment systems. Your bookkeeping overhead will be drastically reduced, and in the meantime, residents will have a lot more options for quickly and easily paying their bills. This is truly a win-win for everyone.
- Work Order Input and Tracking
Another way HOA software could save time is by incorporating a work order module. Residents can input their own work orders (cutting down on phone calls) while being able to track their progress. You can do, and you can also track the effectiveness of the contractors you hire – making it easier to spot workers who under-perform.
- Per-Lot Financial Data
HOAs are about the property value, and per-lot tracking makes it simple to keep tabs on the value inherent in your own HOA. This is also invaluable when it comes time to list a property on the market!
Asyst6 Simplifies HOA Management
Our industry-leading module-based software makes your life easier! Contact us today to learn more.Posted by Angie Jimenez Posted on 26 Dec