CommunityPay Accounting - Professional HOA Fund Accounting

100% Double-Entry

9+ Financial Reports

177 Account Templates

1099 Tax Compliant

                Professional-grade fund accounting, accessible to everyone. Seamless workflows
                and guided controls that help property managers and boards achieve auditor-ready
                results without an accounting degree.
            

Core Accounting Engine

Real fund accounting with complete journal entry control. True debits and credits that auditors expect, not simplified balance updates.

Double-Entry Bookkeeping

Every transaction creates balanced journal entries. Debits always equal credits. Audit-ready from day one.

Chart of Accounts

HOA-specific templates with 177 accounts across three tiers (Basic, Standard, Full). Assets, liabilities, equity, income, expenses. Fully customizable.

Fund Tracking

Operating, reserve, and special funds. Track every dollar in its proper fund. Clear fund-to-fund transfers.

Flash Rapid Entry

Smart journal entry creation with intelligent account suggestions. Search accounts instantly. Enter transactions in seconds.

Period Locking

Lock closed periods to prevent backdating. Audit-grade controls that prevent accidental changes.

Fiscal Year Close

Automated year-end closing entries. Retained earnings rollover. Complete audit trail preserved.

Bills & Accounts Payable

Bill Management

Create bills with multiple line items
Assign expenses to proper GL accounts
Track vendor payment history
Schedule recurring bills automatically
Attach invoices and documentation
AP aging reports (30/60/90+ days)

Approval Workflow

Multi-level approval chains
Dollar-amount thresholds
Board approval for large expenses
Email notifications on pending items
Complete approval audit trail
Reject with reason tracking

Recurring Bills: Set up monthly landscaping, utilities, or management fees once. Bills generate automatically each period. Never miss a vendor payment.

Vendor Payments

Pay vendors directly from CommunityPay. Stripe Connect integration for secure, tracked payments. Batch processing for efficiency.

Direct Vendor Payments

Pay vendors electronically. Track payment status in real-time. Automatic journal entries on payment.

Batch Processing

Group multiple vendor payments. Review and approve as a batch. Process all at once. Save hours weekly.

1099 Tax Compliance

Track vendor payments for 1099 reporting. W-9 collection workflow. Year-end tax reports ready to file.

Bank Reconciliation

Bank Statement → Create Reconciliation → Match Transactions → Clear Items → Complete | | | | | v v v v v Import CSV Set Statement Toggle cleared Verify Lock Period or Manual Balance/Date vs uncleared Balance & Archive

Reconciliation Features

Match bank transactions to journal entries
Toggle items as cleared or outstanding
Running balance calculation
Statement balance verification
Multiple bank account support

Controls & History

Complete reconciliation history
Outstanding check tracking
Deposits in transit identification
Difference investigation tools
Auditor-ready reconciliation reports

Budget Management

Democratic budget workflow with board voting. Monthly breakdown. Variance analysis. Template-based creation for easy year-over-year planning.

Feature	Description
Budget Builder	Create line-item budgets by GL account. Monthly breakdown with 12 columns. Copy from previous year with inflation adjustment.
Board Voting	Submit budgets for board approval. Board members vote approve/reject/abstain. Track voting status and results.
Variance Analysis	Budget vs. Actual reports. Monthly and YTD comparisons. Drill down to transactions behind variances.
Budget Amendments	Create amended budgets mid-year. Track amendment history. Board approval workflow for changes.

Financial Reports

Balance Sheet

Statement of Financial Position. Assets, liabilities, and fund balances. Point-in-time snapshot.

Income Statement

Revenue and expenses for any period. Net income calculation. Comparative periods.

Trial Balance

All accounts with debit/credit balances. Verify books are in balance. Auditor essential.

General Ledger

Complete transaction history by account. Running balances. Full audit trail.

Budget Variance

Budget vs. actual with variance analysis. Monthly trends. Drill-down to transactions.

Cash Flow

Monthly inflows and outflows. Operating vs. reserve activity. Trend analysis.

AP Aging

Outstanding payables by age bucket. 0-30, 31-60, 61-90, 90+ days. Vendor breakdown.

AR Aging

Outstanding receivables by unit. Collection queue. Delinquency tracking.

Financial Dashboard

Executive KPI overview. Cash position, AR/AP totals, collection rates at a glance.

Accounts Receivable

Assessment Billing

Monthly dues invoicing
Special assessment campaigns
Automated late fee posting
Payment plan configuration
Unit ledger tracking
Statement generation by unit

Collection Management

AR aging by unit
Collection queue workflow
Payment application
Credit memos and adjustments
Payment history by unit
Delinquency reporting

Fixed Asset Management

Track community assets from acquisition to disposal. Automated depreciation keeps your books accurate without manual calculations.

Asset Register

Complete inventory of HOA property. Pool equipment, clubhouse furnishings, landscaping equipment, vehicles.

Depreciation Tracking

Automated straight-line depreciation. Monthly journal entries posted automatically. Depreciation schedules included.

Disposal & Gain/Loss

Record asset disposals with proper accounting. Automatic gain/loss calculation. Clean removal from books.

Fund Transfers

Move money between Operating, Reserve, and Special funds with proper accounting. Complete audit trail for board transparency.

Transfer Capabilities

Operating to Reserve transfers
Reserve to Operating (emergency)
Special fund allocations
Board-approved transfer workflow
Automatic balanced journal entries

Compliance & Tracking

Transfer history by fund
Reason documentation required
Approval audit trail
Reserve study alignment
Board meeting reference linking

Compliance & Controls

                Built for fiduciary duty. Every action logged. Every change tracked.
                Period locks prevent tampering. Auditors love it.
            

Audit Trails

Complete history of every transaction. Who, what, when. Never lose accountability.

Period Controls

Lock closed periods. Prevent backdating. Year-end close workflow with controls.

Approval Workflows

Configurable approval chains. Dollar thresholds. Multi-level authorization for large transactions.

1099 Reporting

Track vendor payments for tax compliance. W-9 management. Year-end 1099 generation.

Document Attachment

Attach invoices, receipts, contracts. Source documents linked to transactions.

Role-Based Access

Control who sees what. Board view vs. manager view. Protect sensitive financial data.

Insights & Automation

Machine learning that gets smarter with your data. Fraud detection. Duplicate alerts. Cash flow forecasting. OCR bill scanning. No per-seat analytics fees.

OCR Bill Scanning

Upload invoice images. AI extracts vendor, amount, dates. Auto-fills bill form. Reduces manual entry.

Smart Categorization

ML suggests expense categories based on vendor history. Learns from corrections. Gets smarter over time.

Duplicate Detection

Flags potential duplicate bills before payment. Same vendor, similar amount, close dates. Prevent double-pay.

Anomaly Alerts

Detects unusual spending patterns. Bills 2x vendor average. Weekend invoice dates. Round number amounts.

Cash Flow Forecast

3, 6, or 12-month projections. Based on historical patterns. Cash runway calculation. Plan ahead with confidence.

Vendor Matching

Fuzzy matching finds duplicate vendors. Merge suggestions. Clean up your vendor list.

Manual Monitoring Insights Dashboard

Discover fraud after the fact Real-time anomaly alerts

Spreadsheet cash projections Automated cash runway forecasts

Manual duplicate checking Machine-powered duplicate detection

Multiple reports to review Single executive dashboard

Team Collaboration

Real-Time Discussion

Comments on bills, payments, budgets
@mention team members
Threaded replies
Edit and delete own comments
Full comment history preserved

Notifications

Real-time notification bell
Mentioned in discussion alerts
Approval request notifications
Mark as read
Never miss important updates

Why CommunityPay Accounting

Requirement	CommunityPay Delivers
Real accounting, not balance updates	True double-entry with full journal entry control. Every transaction balanced.
HOA-specific fund accounting	Operating, reserve, and special funds. Proper fund tracking built in.
Auditor-ready compliance	Period locking, audit trails, year-end close. Pass your audit with confidence.
Board transparency	Professional reports for board meetings. Budget voting. Approval workflows.
Speed without complexity	Flash Rapid Entry for quick transactions. Templates for common entries.
Integrated payments	Pay vendors, collect assessments, track everything. One system.

Enterprise-grade fund accounting, purpose-built for HOAs. While other platforms offer simplified balance tracking or generic accounting adapted for communities, CommunityPay delivers true double-entry bookkeeping with the controls, audit trails, and compliance features that enterprise organizations demand—accessible to property managers and boards without an accounting background.