HOA & Condo Association Accounting and Bookkeeping
Independent accounting for self-managed associations and management companies: accurate, transparent financials your board and owners can trust.
Financial clarity for your community
Homeowners and condominium associations manage shared money on behalf of every owner. That comes with a responsibility to keep accurate records, protect reserve funds, and report clearly to the board and the membership.
We handle the bookkeeping and accounting for your association, while the board and your community manager continue to run the community. You get consistent monthly reports, careful separation of operating and reserve funds, and records that are ready for your annual financial report, review, or audit.
HOA & condo accounting services
Monthly board financial reports
Balance sheet, income statement, and budget-vs-actual comparison delivered every month.
Operating & reserve reconciliations
Each operating and reserve account reconciled to bank statements monthly.
Reserve fund accounting
Separate accounting for reserve balances and activity, so the board has a clear view of its reserves.
Budget support
Historical figures and budget-vs-actual reports the board can use when it prepares and adopts its annual budget.
Assessment receivables
Owner ledgers, recording of assessments received, and delinquency reports for the board.
Accounts payable recording
Vendor invoices and payments recorded and reconciled, with supporting documentation for the board.
Year-end & audit support
A complete year-end package for your CPA, reviewer, or auditor.
HOA & condo tax returns
Preparation of association income tax returns, including Form 1120-H.
For self-managed boards and management companies
Whether your board manages the community directly or works with a property management company, we fit into your process. We can serve as your association’s independent accountant or support a management company’s portfolio with dependable back-office bookkeeping. We provide accounting and bookkeeping only; we do not provide community association management services.
- Self-managed HOAs and condominium associations
- Community association management companies
- Townhome, villa, and 55+ communities
- Commercial and mixed-use associations
Why associations choose CFA
Frequently asked questions
Do HOAs and condo associations have to file tax returns?
Yes. Associations generally must file a federal income tax return each year, even if they have little or no taxable income. Many file Form 1120-H; others file Form 1120. We help determine which fits your association and prepare it.
What is the difference between operating and reserve funds?
The operating fund covers day-to-day expenses like landscaping, utilities, and management. Reserve funds are set aside for major repairs and replacements such as roofs, paving, and painting. We track and report them separately.
Can you work with our existing management company?
Yes. We can provide accounting directly to the board or work alongside your management company to handle the bookkeeping and financial reporting. We don’t replace your management company; our role is limited to accounting.
Do you provide HOA management services?
No. Coastal Financial Assistance provides bookkeeping, accounting, and tax services to associations. We do not provide community association management services such as running board meetings, enforcing rules, supervising vendors, or coordinating maintenance.
Can you help prepare for our annual financial report or audit?
Yes. We keep the books organized throughout the year and prepare a year-end package with reconciliations and supporting schedules for your CPA or auditor.
Get your books in order. Start with a free consultation.
Tell us about your business or association. We will review where things stand and recommend a clear next step, in English or Spanish.