Posted on 4/22/2019 11:50 AM By Ken Suarez
● A compilation requires an auditor to present financial statements based on the information submitted by the HOA, with no need for verification.
● In a review, an auditor conducts data analysis and makes inquiries to determine whether the information contained in the HOA financial statements is correct. The HOA provides assurance that the documents do not require any changes.
Posted on 3/18/2019 12:55 PM By SuperUser Account
A general ledger allows you to record all of your HOA financial transactions and keep a record of your balances in all your accounts. Rowcal property managers can help you update your HOA general ledger.
Posted on 3/4/2019 12:52 PM By SuperUser Account
Bank reconciliation errors can throw your accounting off and complicate your accounting process. RowCal online accounting software can help you keep your HOA’s accounting straight.
Posted on 1/7/2019 10:42 AM By Ken Suarez
Selecting the right pricing structure with vendors can be difficult because the structure should align with your organization’s operating procedures, budgetary goals and what products and services the vendor provides.
Posted on 11/19/2018 4:00 AM By Ken Suarez
Budgeting for an HOA includes disclosures to association members, time restrictions, assessment limitations, and more — all necessary to remain compliant with local Minneapolis and Minnesota state Civil Codes. Below, we outline each step of the budgeting process to create a workable and legal budget for your organization.
Posted on 10/8/2018 1:53 PM By Ken Suarez
Across Minnesota and the country, HOAs are experiencing financial problems that are ending in a wide range of consequences. The growing number of homeowners associations does not have sufficient funds or reserves to maintain the housing developments adequately that they are responsible for.
Posted on 9/24/2018 1:41 PM By SuperUser Account
A property maintenance program will help you stay on top of all the repairs and maintenance you need to make on your property. RowCal can help with your property management.
Posted on 7/9/2018 4:00 AM By Ken Suarez
To build trust within your HOA, demonstrating financial transparency is vital. Association members deserve to know where their hard-earned money is going, and management should be able to provide them with that information. At RowCal, we know you need accurate and timely financial data to run your HOA effectively.
Posted on 3/5/2018 7:24 AM By Ken Suarez
The Homeowners Association (HOA) board has a fiduciary responsibility to owners to properly maintain financial records for the association. This means you must account for all expenditures, and detailed records must be kept. It is important to demonstrate transparency with these records and financials to members of the association. RowCal can assist with managing your HOA’s finances through web-based property management while keeping the entire process transparent to stakeholders.