HOA Operations
5
min read
How do I prepare year-end financial reports for our HOA using QuickBooks and our management platform?
To prepare year-end reports, reconcile accounts, close your books in QuickBooks, and compile summaries for dues, expenses, and reserves. HOALife provides data exports for this process.
Year-end reporting
At year-end, ensure all transactions are reconciled in QuickBooks. Close your books for the fiscal year, then generate income statements, balance sheets, and reserve fund summaries. Use HOALife to export dues and fines data so your financial reports reflect all association activities.
Checklist
- Reconcile: Match all bank transactions to QuickBooks.
- Review classifications: Ensure income and expenses are categorized correctly.
- Compile summaries: Create reports on dues, fines, and reserves.
HOALife’s contribution
The platform stores transaction histories and can generate spreadsheets that assist with year-end financial preparation.
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