Are you using Quickbooks for HOA Accounting?
HOA Accounting Software vs Quickbooks
If you’re like many volunteers for homeowners associations, you probably use traditional accounting software—like QuickBooks or Zoho—to manage your community’s finances.
The basic out-of-the-box software solutions like Quickbooks can still serve your needs, but you are missing out on the customized features offered by HOA software.
Managing your Community Association goes well beyond invoicing. Quickbooks and other run-of-the-mill accounting software lack the capabilities that make running your HOA easier. That’s where HOA software can bridge the gap between accounting, communications, violations, work orders, and everything else that goes into your HOA operations.
Quickbooks vs Smartwebs
Quickbooks is a one size fits all accounting software designed to work for any individual in any industry. That being said, the biggest con of using QuickBooks is that it was not designed specifically for HOAs. Community association accounting software was designed to incorporate industry specifics to make HOA bookkeeping easier.
Smartwebs HOA accounting software was developed and designed exclusively for community associations, using the most up-to-date cloud technology and security. Powerful workflows, easy automation, and improved reporting will keep your HOA running smoothly.
Customer-based accounting vs unit-based accounting
Customers, individuals, and businesses use Quickbooks to pay for or send invoices for products or services provided by others.
QuickBooks fails to realize what makes HOAs unique – units.
In QuickBooks, you must create a new customer every time an occupant moves into a unit.. Over time, each purchase will generate one new account with the same address – this makes it difficult to compile documentation by unit, only by the customer.
Community Association Management software helps you organize records of individuals and units
Smartwebs keeps records on both units and individuals, making it easier than ever to establish a documented history of owners, maintenance, architecturals, payment activity, and more at the touch of a button.
HOA accounting software was designed to make community association management simpler. With built-in tags and custom fields, you can segment units and owners.
Do more than just HOA accounting
With Smartwebs, you can manage every aspect of your HOA, not just accounting.
Smartwebs is an all-in-one software solution to help you manage your day-to-day community association tasks, such as work orders, architecturals, violations, and more. Using the community messaging feature, you can notify your community members of emergencies, such as storms and flooding, power outages, etc.
Quickbooks doesn’t capture communications between the biller and the payer.
If you want to engage with your homeowners outside of billing, you’ll have to resort to other tools disconnected from your accounting software.
Quickbooks is not your HOA informational hub.
Smartwebs bridges the gap and unifies communication between the HOA board and homeowners. Through resident portals, homeowners can respond and engage in real time.
- Send mass emails, texts, and voicemails from within the platform.
- Send direct mail like paper invoices or print newsletters, at the click of a button with zero-touch mailing.
- Issue violations
- Receive maintenance and architectural requests.
Static software vs Dynamic
QuickBooks regularly updates its products to work within an ever-evolving tech environment. They fit within a scheme of other tools, each playing its own part in the business operation.
QuickBooks is a potentially powerful tool for managing financials for any business. However, HOA management is not on its list of services because of the specific requirements of these organizations.
Smartwebs is constantly improving to better serve HOAs.
As we expand our products and capabilities, we make them available to all of our users.
We know what it takes to run an HOA, it’s in our DNA. That’s why we’ve included features to help streamline the process for you. Such as readymade templates for maintenance requests, violations, and architectural requests.