The accounting and tax needs of associations are unique, like almost everything else about this industry. This category can also be broken down into several sub categories, which are shown below.
1) Monthly accounting services. Most associations of any size retain someone to perform monthly accounting services for the associations. many times that is part of a full management contract provided by a specialty association management company. Other times it may be an accounting or bookkeeping firm or individual.
2) Accounting software. Some associations may use "off-the-shelf" software products like Quickbooks to address their accounting processes. Others may use one of the many specialty accounting software products that have been developed for this industry. Some of the specialty software products are designed to handle the accounting function and nothing more. Others include significant management modules that are relatively unique to this industry.
3) CPA year end audit, review, or compilation services. Over the years several thousand CPA firms nationwide have developed specialty practices to serve the community association industry.
4) Tax services are most commonly performed by CPA firms who preform related financial statement services identified above. However, association taxation is unique and requires experienced tax practitioners.
Through our own long involvement in the community association industry HOA Financial Group knows of many CPA firms how specialize within this industry. We will be providing a directory of CPA firms who serve this unique industry. A listing in the directory is not an endorsement by the HOA Financial Group but is simply an aggregation of information. We will also be providing a directory of management companies and software products normally found in the industry. COMING SOON.