FISHERS, IN – Self-managed homeowners associations often rely on property management companies, outside accounting firms, or volunteer treasurers to handle their books. HOA Start, a provider of HOA management software, has launched a bookkeeping service designed to replace these options and close a financial blind spot many boards face. The service integrates with the company’s existing HOA management software, which already handles online payments, member communication, document storage, online voting, and community websites.
The new service moves HOA Start from a pure software platform into a combined software-and-services company. It handles monthly bookkeeping directly for associations of any size, managing the full monthly financial cycle: reconciling bank accounts, tracking accounts receivable (including processing fees for online dues), managing vendor accounts payable, accounting for reserve balances, and compiling balance sheets and profit-and-loss statements. This monthly approach gives treasurers a current financial picture and reduces the time spent reconstructing records after board turnover, a common issue when financial history leaves with departing volunteers.
According to HOA Start, the service typically costs about a third to half of what associations pay property managers or outside firms for comparable bookkeeping. This makes professional financial management realistic for smaller and cost-sensitive boards that have historically gone without. “HOA Start Bookkeeping has been an absolute pleasure to work with. The service is affordable, highly professional, and incredibly reliable,” said Tyra Watts of LaPlace HOA.
Financial transparency is increasingly a legal obligation. Florida Statutes 718 and 720 require condo and homeowners associations above set thresholds to keep financial records accessible to residents, and board members carry a fiduciary duty to manage association funds responsibly. Accurate, current bookkeeping underpins both, yet remains out of reach for many self-managed boards relying on manual processes.
“We started the year as a software company. We’re becoming a software-and-services company, and eventually a software, services, and solutions company,” said Clayton Thompson, CEO of HOA Start. “HOA boards are looking to hand off the work that pulls volunteers away from their communities. Bookkeeping is one of the clearest examples of that.” The company has indicated that additional financial services, including reserve planning support, are on its roadmap.
