Much like a business, a functioning community incurs costs and earns revenue. As such, it’s important to set up HOA accounting standards to maintain accurate financial reporting. Now, accounting can be quite stressful for community managers to navigate. With so much money going in and out, sometimes on a daily basis, it can be a challenge to stay on top of it all. Furthermore, HOAs must file taxes, which is nearly impossible when you don’t have your community’s expenses organized from the very start. To help you out, here are the HOA accounting standards you must consider. Read the article…………………………..
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