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HOA Operations
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min read

What financial reports should HOAs review monthly?

HOAs should review balance sheets, income statements, and budget vs. actual reports monthly. HOALife helps compile these reports for board review.

Key financial reports

HOALife’s financial dashboard offers essential reports for board oversight. Each month, boards should review the balance sheet to assess assets and liabilities, the income statement to track revenue and expenses, and a budget versus actual report to compare spending to plan. These reports help detect issues early and support informed decisions.

Additional insights

  • Accounts receivable: Monitor overdue assessments and collections.
  • Reserve fund status: Ensure long-term projects are funded.
  • Expense trends: Identify irregularities or seasonal changes.

How HOALife helps

The platform consolidates financial data and generates standardized reports, saving treasurers time and reducing errors. Board members can access these reports via the dashboard anytime.

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