Property Management Software

Community association management is no easy task. You’re responsible for a wide range of duties for the associations you manage. From daily maintenance to big picture projects, it’s your job to ensure your clients’ homeowner associations (HOA) or condominium associations (COA) always run smoothly.

When you’re managing associations, the right software can transform your business. Community association management software like CINC Systems provides the tools you need to be an effective, efficient manager. Use association management software to process fee payments, schedule repairs, handle your clients’ finances, and communicate with residents.

As you get ready to upgrade and use new software tools, you may be wondering, what are the computer system requirements for community association management software? Different software programs have different requirements, so before you can answer this, you’ll need to choose the best software for your HOA/COA management company. Find association management software that’s right for you by asking the following questions.

Can It Handle All Your Community Management Needs?

No two associations are alike. A large homeowner association with 100+ residents will have different needs compared to a smaller condominium association with a dozen units. When considering the computer system requirements for community association management software, you’ll want to choose a program that can handle the unique needs of all your HOA/COA clients.

Additionally, you’ll want to consider the size of your community association management company. How many employees will need to use your new management software? If you have co-managers or subordinates who need access, you’ll want to choose management software that can create multiple user accounts.

If you manage large community associations and need multiple user accounts, your community association management business will benefit from more powerful software. This may mean having greater computer system requirements than less advanced software for smaller organizations. Always choose the best software to fit your organization’s unique needs.

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Does the Software Offer Community Association Accounting Features?

Accounting duties are among the most important responsibilities for HOA/COA managers. Your clients will need you to handle many aspects of their community’s finances, from collecting resident fees to paying vendor invoices. You may also be tasked with balancing the budget, scheduling bill payments, and monitoring accounts.

With community association management software like CINC Systems, you’ll find many key features to help you perform HOA/COA accounting. For example, you can use association management software to create online payment portals. This allows residents to pay fees online, helping your business go paperless. Accounting software for associations can also generate a list of which residents have paid their fees and which ones are behind.

You can also use HOA/COA software to perform bank integration and link your clients’ financial accounts to your software. You’ll be able to see financial transactions in real-time, in one place, without logging into multiple banking websites.

Other HOA/COA accounting features may include:

• Generating financial reports for your clients’ board
• Paying utilities and other bills
• General ledger accounting

If your community association management software offers these tools, it may have different computer system requirements than software without accounting features.

Will Community Association Management Software Make Your Job Easier?

When researching the computer system requirements for community association management software, look for software that makes your job easier. When you manage homeowner associations or condominium associations, find ways to work smarter, not harder. The right software can streamline your day-to-day tasks, freeing you up to work on bigger projects.

Look for software, like CINC Systems, that can process work orders online. With CINC Systems, you can create a web portal where residents can submit work orders from their computer or phone. They can even submit a photo of the repairs that need to be done and track the work order’s status online. Processing work orders online makes your job easier because you can organize submissions by date, category, and priority.

However, community association management software that processes work orders online may require a more advanced computer system.

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Is It Cloud-Based/Mobile?

Next, ask yourself if you need community association management software that can go mobile. When using a cloud-based program, such as CINC Systems, all your clients’ data is stored remotely. This means you can access the accounts for every association you manage from almost any location with the Internet.

Using mobile software offers several advantages for HOA/COA management companies. It allows you to manage different locations when you’re on-the-go. This is especially beneficial for managers responsible for large associations with several sub-associations, or managers whose portfolio is spread out across a large geographic area.

Cloud-based mobile software often requires less computer power, operating on a simple laptop or tablet device without the need for complicated installations. Depending on your management company’s needs, HOA/COA software that’s mobile can be a better choice than traditional desktop software.

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Will Your Clients’ Data Be Secure?

Finally, choose community association management software that will keep your clients’ data secure. When you manage an HOA/COA, you may be handling sensitive financial information as well as personal information about residents. The best software will employ several security measures to keep this data safe.

As you consider the computer system requirements for your community association management software, make sure you assess the software’s security protocols. We also recommend installing antivirus software and firewalls on your company’s system. This will protect your clients’ data on all sides.

CINC Systems: The Perfect Software for Any Computer System

Different association management software has different computer system requirements. Depending on the software you choose, your computer system may need to be upgraded or replaced. However, a cloud-based platform like CINC Systems can run on almost any computer system.

See how well CINC Systems functions on your computer system with a free demo! Once you install CINC Systems, HOA/COA management will be easier than ever. Click here or call 855.943.8246 to get started with CINC Systems today.

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Association management companies have a lot on their plates. Whether you’re handling a large portfolio or running a large homeowner association (HOA) or a smaller condominium association (COA), you have many responsibilities to your client’s board members and residents. It’s up to you to ensure the success of the association you manage as well as its future growth.

One of the best ways to help an association is to use association management software. Association management software, such as CINC Systems, provides valuable tools to automate daily tasks and streamline efficiency. But how do you know what to look for in association management company software?

When you’re choosing association management software, we recommend looking for software that will meet the unique needs of your clients’ HOAs/COAs. Use this helpful guide to choose the best management company software for the associations you manage.

Features to Suit Any Type of Association

Every association is different. Are you managing a large HOA with many homes or a smaller COA with only a few units? Depending on the size of your client’s association, you will have different software needs. Make sure you choose management company software that can be customized to the specific needs of the HOA/COA you manage.

Look for scalable features designed for different types of associations. The CINC Systems platform can assist any type of HOA/COA, however, other association management company software may not be universally suited. Before investing in new software, do your homework and make sure it can handle all the unique needs of your clients’ homeowner or condominium associations.

For a free consultation, call 855.943.8246

Bank Account Integration

Next, look for management company software that includes bank account integration. Bank account integration means you can link an association’s financial accounts with your software interface. The client’s accounts will sync up automatically and you’ll be able to monitor the HOA’s/COA’s finances in one place.

Bank account integration is an important feature for any association software program because it also allows you to organize the association’s finances. It will make it easier to create monthly and annual budgets, help with balance sheets and perform general ledger accounting. Use CINC Systems for daily reconciliation of accounts, lockboxes and more.

Online Payment Portals

Collecting resident fees can be one of the most arduous tasks of an association manager. It requires notifying residents that fees are due, keeping a record of who has paid and who hasn’t, depositing checks at the client’s bank and waiting for these deposits to clear. Luckily, association management software can automate this process.

Look for management company software that gives you the ability to create online payment portals. Once you’ve created a payment portal for your clients, residents can pay their fees and fines online via credit card or e-check. They can also schedule reminders and autopay. Best of all, payments will process automatically, so the association can go fully paperless and you can avoid long lines at the bank.

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Submit and Process Work Orders Online

We also recommend looking for association management company software that allows you to create website portals for work orders and maintenance requests. Dealing with work orders can be a headache, but when everything is online, you can create a streamlined system that handles repairs faster than ever. This will help you streamline your daily tasks and give you more time to focus on other projects.

Many association management software programs give residents the ability to submit work orders online. Often, residents can also upload a photo of the work that needs to be done. Once they submit a work order, you can organize it by date, category, and priority. This will help you organize and coordinate the job with vendors. You can also email status updates to residents.

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Scheduling Systems for Common Use Spaces

If your client’s homeowner association or condominium association has shared common use spaces, look for management company software that can create an online scheduling system. When you manage facilities like laundry rooms, gyms, tennis courts, or pools, you can save time and make your job easier by allowing residents to reserve these areas online.

Online scheduling systems allow residents to see when spaces are available and book them accordingly. You can also set hours, post rules and create announcements such as scheduled maintenance times. Using association management company software that allows scheduling systems will help your client’s community run more smoothly.

Intuitive Mobile Functionality

When choosing association management company software, look for a program or application that doesn’t come with a steep learning curve. Find software that’s easy to set up and intuitive to use. Although you may need to take a few hours to acclimate yourself in the beginning, your time is valuable and shouldn’t be wasted on overly complicated software. Look for programs that are user-friendly.

Additionally, your association management company should invest in software that offers mobile functionality. By storing your data in the cloud, you’ll be able to access your client’s data from anywhere. This is helpful for managers who cover a large association and need to be on-the-go. Software like CINC Systems offers a great mobile app that’s easy to install and use on your laptop, tablet or smartphone.

Automated Communications with Residents

Finally, look for association management company software that can streamline your communication with clients. Communication is key to a successful association. Whether you’re notifying residents of overdue fees and violations, sending reports to board members, or making community-wide announcements, you’ll want to implement a system that makes communication easy.

Many association management company software programs include integrated call logs, one-touch emails, and newsletter functionality. Choose software that will also allow residents to ask questions and provide feedback online. Being able to automate communication with your client’s residents will make you a more efficient manager.

Try a Free CINC Systems Demo Today

If you’re not already using association management company software to run HOAs/COAs, try CINC Systems today. Request a free demo and see how our association software can make a positive impact on your business.

Call 855.943.8246 or complete a contact form

Managing a homeowner association (HOA) or condominium association (COA) takes hard work. You need to be responsible, organized and possess strong communication skills. Association managers are the ones who ensure your client’s HOA/COA grows into a successful, thriving community.

There are many duties you will be expected to perform as an association manager. You will handle the HOA’s/COA’s finances, work orders and maintenance, and interface with residents. Association managers are often tasked with hiring service providers and vendors, too. It can be a very rewarding position, but association management is not without its challenges.

Thankfully, there is a wide variety of software and apps designed specifically for association management. These programs can help automate daily tasks, organize the HOA’s/COA’s finances, and streamline communication between residents. If you’re in charge of an HOA/COA, association management software will make your job much easier.

But with so many apps and programs to choose from, how do you know which association software is right for you? What is the best association management software? Here are some factors to help you decide.

Consider What the Association Needs

Because there are so many different association programs and apps to choose from, start by taking stock of the specific needs of the HOA/COA you manage. How big is the association? Does the community include shared spaces, like a pool or multi-purpose room, that would benefit from online scheduling?

If you’re managing a small COA, for example, you may not need all the bells and whistles that come with expensive management software. Conversely, managers who have a large portfolio or oversee HOAs with a large number of residents will require software that can handle bigger databases.

Also, consider your own management style preferences. If you like to work on-the-go, instead of staying in an office all day, choose association management software that offers a mobile app.

Once you’ve made a list of your association’s HOA’s/COA’s software needs, you’ll be able to find the perfect program or app for your needs.

For a free consultation, call 855.943.8246

Choose Software that Offers Accounting Features

No matter how big or small the association is, one software feature remains absolutely essential: accounting. Let’s face it, managing an HOA’s/COA’s finances isn’t the most glamorous part of the job. Luckily, association software with accounting features will make your financial responsibilities easier than ever.

With accounting features, association management software will save you time and money. You will be able to organize HOA/COA finances like never before. With everything stored in the cloud, association management software will eliminate the need for complicated paper filing systems. You can also balance the budget online, in real-time, by linking the association’s bank accounts to your software.

Additionally, association software accounting features will let you conduct financial business online. You’ll be able to create a web portal where residents can pay association fees, vendors can submit invoices, and you can pay bills. The best kind of association software is one that displays everything in one convenient dashboard. As a bonus, you’ll be able to generate and share easy-to-read financial reports with your clients.

Association Software Will Help Automate Daily Tasks

When choosing the best association management software, ask yourself this: how can I work smarter, not harder? High-quality software will do just that! As an association manager, you have a lot on your plate. The right management software for the HOA/COA you manage will help you automate daily tasks and streamline operations so you have more free time for other projects.

Look for association management software that can assist with day-to-day operations. For example, many association software programs allow managers to process work orders online. This allows residents to submit work orders along with photos or videos of what needs to be repaired. As a manager, you can sort the work orders by date received, category, or priority. You can then schedule repairs in clusters that make the most sense based on the type of work. Residents can then receive online updates about the job.

Great association management software will also give you the option to create resident directories and online scheduling for community spaces like gyms or rec rooms. These features will help you manage your client’s association more efficiently.

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Make Sure You Can Go Mobile

In a mobile world, it’s important to make sure your association management software can keep up. Whether you’re managing an HOA with a large portfolio of properties or you just enjoy working out of the office, choose software that includes a reliable, easy-to-use mobile app.

A mobile app lets you stay connected to the HOA/COA no matter where you go. You can manage your clients’ associations from a laptop, a tablet or even a smartphone.

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Quality Software Keeps Your Client’s Data Secure

Finally, good association management software will keep your client’s HOA/COA data secure. Because you’ll be handling sensitive financial data, and possibly private information about residents, you will want to choose the software you can trust. Choose a program or app that closely guards the association’s data and keeps it safe in the cloud.

CINC Systems is the Best Choice for Association Management Software

There are several key features that make a program or app essential to association management. First, look for accounting features and integrated banking that lets you streamline account reconciliation online. Second, find software that can automate daily tasks, like work orders and scheduling. Finally, choose a platform with a great mobile app and robust security.

CINC Systems is the best choice for association management software because it includes all these features and more. CINC Systems is also customizable and scalable to meet the needs of different HOAs/COAs. With CINC Systems, you’ll be able to strengthen any association and create a truly amazing community.

Don’t just take our word for it. Try CINC Systems and see the difference for yourself. Request a free demo today.v

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Managing a homeowner association (HOA) or condominium association (COA) has many challenges. You’re responsible for an association’s finances, repairs and maintenance, and more. Although association management can be very rewarding, it can also be overwhelming.

That’s where association management software comes in. Using association management software like CINC Systems will make your job considerably easier. Software designed for HOAs/COAs can handle the unique needs of your client’s association. It will automate daily tasks, help you stay organized, and provide valuable tools for managing your business.

There are many types of association management software on the market. How do you choose the best association management software for the HOAs/COAs you manage? When buying a program or app for your client’s association, choose wisely. The following considerations will help ensure that you find the perfect management software for any HOA/COA.

Consider the Size of the Association

Start by considering the size of the associations you manage. How big is the association’s board? How many households are in your client’s neighborhood or building? A big homeowner association with dozens of members will have different needs compared to a smaller condo association with only a few residents.

If an association is on the smaller size, you may not need all the bells and whistles (and higher price tag) of management software designed for a bigger organization. Conversely, if you’re managing a big HOA/COA, make sure you purchase management software that can handle all of the association’s needs.

For a free consultation, call 855.943.8246

Do You Have Common Spaces to Manage?

Next, consider the association’s physical assets. Does the HOA/COA have common spaces that need management? Areas like tennis courts, gyms, pools/spas or multi-purpose rooms can require extra attention. In addition to improved maintenance scheduling and cleaning, these spaces will benefit from an online reservation system.

If the association you manage has many shared common areas, choose management software that can let you create web portals for your client’s residents. This will make it easier for residents to book time in these spaces and eliminate scheduling conflicts. You can also use this platform to post rules and usage hours.

How Many People Will Use the Software?

As you research the best association management software, consider how many people in your organization will be using it. If your HOA/COA management company has many employees, choose software that can create multiple user accounts. You may also benefit from software that can create user accounts at different “tiers” of access. You’ll want full administrative access to every feature, but you may wish to restrict other users.

For example, not everyone will need access to your clients’ financial data. We also recommend paying attention to privacy and security when choosing association management software. Make sure the software you choose will keep your clients’ data safe. And don’t forget to encourage your users to create strong passwords, which they shouldn’t share with anyone else.

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Does the HOA/COA Software Offer Bank Integration?

When you’re managing an HOA/COA, accounting can be one of the most difficult and important tasks on your plate. Make sure you choose association management software that will help you organize and maintain your client’s finances. Software like CINC Systems offers web-based financials and bank reconciliation. This means you’ll be able to link all of your client’s bank accounts to your software and monitor them in real-time from one handy dashboard.

The best association management software also offers the ability to generate custom financial reports. Along with general ledger accounting, these reports will make it easier than ever for you to balance an association’s books. You can observe financial transactions and adjust the HOA’s/COA’s budget accordingly.

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Can It Process Payments Online?

If you’re shopping for the best association management software, consider whether an application can process payments online. This is a very valuable feature that will help your client’s association stay organized and let you focus on bigger projects.

With software like CINC Systems, you can create a web portal where residents can pay their association fees online. Fees are then processed automatically, saving you a trip to the bank. You can also use online payment processing to track who has paid their fees and who is overdue. Residents also love this feature because it’s more convenient for them, too. Choose association management software with online payment processing and go paperless.

Can You Create Web Portals for Work Orders?

Work orders are another aspect of HOA/COA management that can be very time-consuming. Luckily, many association management programs and apps make this easier. With the right association management software, you can create a web portal that allows residents to submit repair requests online, 24/7. They can also upload photos to document the work that needs to be done.

Once submitted electronically, work orders can be sorted by date and time, category, and priority. You can easily organize jobs and send notifications to residents about the status of the work order. This is one of the most valuable features of any association management software, so we recommend you look for this when you’re considering new software.

Look at the Computer Requirements

Finally, consider the computer system requirements of any potential association management software. Some programs require a dedicated computer server, while others are cloud-based, so you can run them on your tablet or even your smartphone.

Make sure your company’s current computer system can run whatever software you choose. If not, consider an upgrade.

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When you’re considering buying software for association management, it’s important to do your research and make sure you have the best software for the needs of each client. Read reviews, get opinions from other association managers and do your due diligence to ensure you make a good choice.

We also recommend trying before you buy. That’s why CINC Systems offers a free demo: so you can see how our platform can help you get the most from your association management company. Try CINC Systems today, for free, and experience it yourself.

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What’s one of the best ways to improve association management? Accounting software! Although it might not sound as interesting as other aspects of management, accounting software is actually one of the most valuable tools for managing a homeowner or condominium association.

Once you’re up and running with the perfect accounting software, like CINC Systems, you’ll discover how easy it can be to manage HOA/COA finances. Accounting software designed for associations will help you process your client’s resident fees, pay invoices, and balance their budget. You’ll quickly discover how HOA/COA accounting software streamlines your business and helps you accomplish daily tasks in minutes.

One of the best features of association management accounting software is online integration. Today, most accounting programs store information on remote servers, also known as “the cloud.” This means you can access an association’s financial data from any location on a laptop, tablet, or even your smartphone. Cloud-based software also gives easy access to other people in your association management company.

But is your client’s data safe? We often hear about companies being hacked or accidentally leaking private personal information, such as passwords. When you’re managing an HOA/COA, it’s important to protect your client’s community and do whatever you can to safeguard the association’s financial data.

Here are some points to consider regarding the safety of cloud-based financial data.

Advantages of Cloud-Based Association Accounting Software

First, let’s take a look at some of the benefits of cloud-based association accounting software.

• General ledger accounting: Easily balance the books and track expenditures so your client’s association always stays on budget.
• Online fee payment processing: Create an online payment portal where residents can pay association fees, eliminating the lengthy process of paper checks.
• Invoicing for vendors: Allow vendors to submit their invoices online, then pay right away with the click of a button. You can also set up autopay for the association’s recurring bills.
• Sync bank accounts: Use integrated bank reconciliation to add an association’s accounts to your software. This will let you monitor the HOA/COA bank accounts in real-time from one dashboard instead of multiple websites.
• Generate financial reports: When it’s time to share financial data with your clients, you can automatically create detailed financial reports and share them via email.

Each of these features will save you time, money and headaches. You’ll be able to go paperless, too. Say goodbye to spreadsheets and long hours organizing paperwork.

Ultimately, the advantages of accounting software far outweigh the risk of having your client’s data hacked. In fact, the possibility of a data leak is actually quite remote. However, if you’re still concerned about protecting an association’s financial information, you can put your mind at ease by learning more about how accounting software keeps data secure.

For a free consultation, call 855.943.8246

How Accounting Software Keeps Financial Data Secure

Accounting software uses several techniques to protect data in the cloud. First, an association’s financial information is encrypted. Encryption means that data becomes “scrambled” and can only be unlocked by a computer program with the right access key. Most software programs use a type of secure encryption called 256-bit SSL, but we recommend asking your software developer for their specific methods.

Second, there’s a good chance that an HOA’s/COA’s financial data is spread across multiple servers, instead of just one. This means that even if there’s a data breach, it would only affect a partial percentage of the secure information and the rest would still be safe. Again, ask your software developer for more information about their cloud security.

You can also ask your accounting software provider about the security employed at the physical address where the servers are located. Although online hacking is a much bigger threat, data servers are still vulnerable to physical break-ins. Your software provider most likely uses extra security measures like alarms and cameras to protect their cloud servers.

Finally, research how your accounting software provider uses firewalls, virus scanners, and malware protection. Most of these digital security measures are standard protection to keep financial data from being targeted.

Tips for Protecting an Association’s Financial Data Online

Although your accounting software providers take many measures to protect your financial data in the cloud, there are ways you can help secure it on your end, too. The most important thing you can do to protect accounting information in the cloud is to use a secure password.

If you’re not already using a secure password, now is a great time to update it. (Cybersecurity experts recommend changing your online passwords every three months.) To create a secure password for your association accounting software, follow this formula:

• Use at least eight characters. Sixteen is ideal
• Include at least one capital letter, ideally in a random place
• Create your password from a combination of letters, numbers, and symbols
• Try substituting letters with numbers and symbols. (For example; consider using “8” for “B”, or substitute “@” for “a”)
• Use creative acronyms that no one else can guess, such as the first letter from each word in the opening lines of a favorite movie

When creating a secure password for HOA/COA management accounting software, never use anything “obvious” such as the name or address of your client’s association. Also avoid personal information, like birthdays and pet names.

If you have trouble remembering a strong password, consider using a keychain program such as LastPass. You could also write your password down (without the accompanying username or the name of the software program) on an unlabeled sheet of paper and hide it somewhere. Whatever you do, never store your passwords in an email, spreadsheet or Word document.

If there are other members of your HOA/COA management company who use your accounting software, make sure they create strong passwords, too.

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Try CINC Systems, One of the Most Secure Programs for HOA/COA Management Accounting

Your association management accounting software data will be safe in the cloud, helping HOAs/COAs function more smoothly. If you’re not yet benefiting from association accounting software, try a CINC Systems free demo today.

Call 855.943.8246 or complete a contact form

Managing a homeowner association (HOA) or condominium association (COA) can be a challenge. Although association management is often very rewarding, it requires a lot of work to create and maintain a thriving community for your clients. When you manage an HOA/COA, it’s your job to keep things running smoothly so the client’s residents have a safe, peaceful place to live.

Accounting is a significant part of association management. Your duties may include collecting resident fees, paying vendors, balancing accounts, and reconciling financial information for taxes. Crunching the numbers for an HOA/COA isn’t the most exciting aspect of association management, but it may be the most important. That’s why many companies offer accounting software for managing associations.

Association management accounting software is custom-tailored for HOAs/COAs. However, every software is unique–just like the associations you manage! So how do you choose the best accounting software for managing associations? Here are some considerations:

How Big Is Your Association Management Company?

First, consider the size of your association management company. Is it just you, or do you have co-managers and employees? Figure out how many people in your company will need to use accounting software. If you’re going to have multiple users, make sure you choose accounting software that can accommodate them.

Today, many types of software for association management are cloud-based. This means you can use the software from any computer, tablet, or smartphone with an internet connection. Cloud-based software makes it easy for multiple users to access the same data at the same time, so if you work with a big team, we recommend looking for cloud-based features in your HOA/COA accounting software.

For a free consultation, call 855.943.8246

How Many Association Properties Are You Managing?

When you’re responsible for HOA/COA accounting, it’s important that your software is up to the task. A management company with a small number of properties will have different needs compared to a larger company. As you research the best accounting software for association management, consider whether the software is designed for high or low capacity management.

A larger HOA/COA will need software with more powerful and advanced features. As you might guess, more powerful accounting software also tends to be more expensive. If you manage smaller HOAs/COAs that don’t require all the bells and whistles, don’t overpay for accounting software intended for a big community.

Are You Managing Common Spaces?

Do you manage an association that has common spaces like swimming pools, gyms, tennis courts, or laundry rooms? If so, look for HOA/COA accounting software that can handle this. With the right association software, you can create a dashboard for residents, a reservation system for common spaces and post important information, such as hours of operation and rules, all online!

Accounting software can also help you track expenses associated with HOA/COA common spaces. This may include basic utilities, such as water and electric costs for operating a laundry room, as well as renting fees of the common area, maintenance, repairs, and upgrades.

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Does the Software Offer Bank Integration?

Next, look for bank integration. This is one of the most useful features of association management accounting software–and one of the most important. Bank integration means you can link an association’s bank accounts to your software. It gives you the ability to see the association’s financial data in one place, in real time, without logging into multiple websites.

With bank integration, you will be able to perform account reconciliation, general ledger management and monitor cash flow for the HOAs/COAs you manage. This helps you ensure that the association doesn’t go over-budget. It also makes it easier to generate financial reports.

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Can You Create Payment Portals?

Collecting fees is often the most tedious task of association management. However, by choosing the right accounting software you can streamline this process for management and residents alike. Look for HOA/COA accounting software that can create a payment web portal, like CINC Systems. This allows residents to pay their fees online via credit card or e-check.

With a payment portal for resident fees, the association you manage can also go paperless. Additionally, this accounting software feature will save you a lot of time. You won’t need to go to the bank to deposit physical checks and your accounting software can automatically generate a list of residents with outstanding balances.

Can You Process Work Orders Online?

The best accounting software for managing a homeowner association or condominium association will offer the ability to process work orders online. With the right accounting software, you will be able to create a web portal where residents can submit work orders electronically. Some software also allows users to upload photos of the work that needs to be done.

Residents love this feature because they can track the status of their work order online or receive email updates. It’s also great for association managers because it helps to stay organized. You can sort work orders by submission date, category, and priority. Once the work is done, your HOA/COA accounting software will also let you pay invoices online.

What Are the Computer System Requirements?

Finally, consider the computer system requirements for association accounting software. Does the software require a dedicated server on an office computer, or is it a robust cloud-based application you can run on your iPad? If you’re considering software with advanced accounting features, make sure you’ll be able to install it on your existing computer equipment–or be prepared to upgrade.

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When you’re ready to upgrade to the best accounting software for managing an association, try CINC Systems. CINC Systems offers all the accounting features you need to successfully manage an HOA/COA. Whether the association you manage is big or small, CINC Systems can be customized to fit your needs. It’s an indispensable platform for association accounting and property management.

Register for a free CINC Systems demo today.

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Is your association management’s accounting data safe when you use software tools?

Online accounting services and cloud-based apps like CINC Systems offer many advantages for association managers compared to traditional paper bookkeeping. Many programs designed for HOA/COA accounting can also be linked to resident payment web portals, allowing you to  collect fees online.

However, some association managers may be concerned that using online accounting software places their client’s financial data at risk. Security and privacy always need to be considered when choosing accounting software or apps for your business.

Why Data Security Matters for HOA/COA Accounting Data

Your HOA/COA clients’ data needs to be extra safe because it may include private financial information, vendor invoices, utility accounts, and personal resident information. In a world where online breaches are the order of the day, it’s very important to know how to protect data. Luckily, most software companies understand this and make it a priority.

Are you wondering how to keep financial data secure when using accounting software and apps? The key is to stay informed. Here are some questions to ask your service provider to ensure the safety of your clients’ accounting data:

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How to Keep Your Client’s Financial and Accounting Data Secure

Knowledge is power. While you can’t always prevent hackers from causing a breach, you can make sure your client’s financial data is as secure as possible by understanding how your software works. Before trusting your data to an online accounting service or cloud-based management app, ask the following questions:

Does the accounting service provider use multiple servers?

Typically, online data is stored in a special type of computer called a  server. Data will be more secure if it’s spread out across multiple servers instead of one. It’s even better if these servers are in different physical locations, such as different cities. If one server is hacked or compromised, the others may still be secure. Spreading data across multiple servers reduces its vulnerability.

What physical security measures are in place at the server’s physical location?

Although many data breaches are the result of online hacking, servers that store accounting data may still be targeted by traditional break-ins. Ask your accounting service provider how they protect financial data. Does the server location have security alarms? Video surveillance? Protection from environmental damage such as fire and floods?

How does the accounting software itself protect financial data?

Accounting data and financial information needs to be encrypted to be truly secure. This is a very important security feature. Ask your online accounting service provider if they protect your data via 256-bit SSL encryption, which is ideal. Also, find out how often your data is backed up and what kind of security measures are used to protect the backups.

Firewalls, employee access, virus protection and security history

We also recommend talking to your accounting software provider about other factors that may affect security. Find out if they employ firewalls, which block unauthorized access to internal server networks, and if they use protection against viruses and malware. If possible, ask how many employees within the company have access to the data servers.

Finally, learn what you can about the accounting software company’s security history. Have they ever had a data breach? If so, how did they handle it? If the accounting software company cannot disclose this information, see what you can find on Google. Data breaches are often published on news sites, social media, and online forums.

Keep Association Accounting Data Secure and Private Within Your Association Management Company

To make sure your association accounting data is safe when using software tools such as websites and cloud-based apps, you should also take steps to secure your information within your company. This will help protect you as well as your HOA/COA clients’ board members, vendors, and residents.

One of the best ways to secure financial data when using accounting software is to implement strong passwords. Unfortunately, common passwords that are easy to remember are also easy for hackers to guess. When creating a password for your accounting software tools, never use information such as a date of birth, family member name, or anything that includes the name of your business or client. Avoid passwords that you use for other services, too.

If you want to know how to create a strong password for your accounting data, here are a few key guidelines from security experts:

• Make your password at least eight characters long, ideally 16
• Use a combination of letters, numbers and symbols
• Include at least one capital letter, in addition to lowercase letters
• Substitute letters with numbers and symbols (for example, consider using “1” for “L”, or substitute “$” for “S”)
• Use unique acronyms that only you will understand, such as the first letter from each word in the lyrics of your favorite song

Once you’ve created a strong, unique password to protect financial data stored by  accounting software or apps, the next step is to guard that password. Many people use special password security software, such as LastPass or  KeePass, to store their passwords with extra encryption. You can also go old-school. Some experts recommend writing passwords down on an unlabeled piece of paper and hiding it somewhere inconspicuous.

Make sure that you don’t store your passwords in an Excel sheet, Word document, email or any type of file marked “PASSWORDS.” Also, don’t share your passwords with anyone else within your organization. Even the most trustworthy associates can be victims of hacking or computer/phone theft. Treat your accounting software password like the key to a treasure chest.

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Keep Accounting Data Private and Secure with the Right Software Tools

Your client’s association accounting data can be kept safe and secure with the right software tools, including online HOA/COA management systems and cloud-based apps. Although there is always some risk associated with storing data online, the benefits of accounting software far outweigh the possibility of a data breach.

Try CINC Systems today to see how CINC Systems accounting software can streamline your business and increase growth.

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Accounting software is essential to managing a homeowner association (HOA) or condominium association (COA) for clients. In general, there are two types of accounting software for HOA/COA management: the first is known as traditional accounting software, while the second is called cloud accounting software. Traditional accounting software refers to accounting programs that need to be installed on your computer. They’re self-contained systems, meaning all your accounting data is stored in the computer’s hard drive.

Cloud accounting software stores your entire HOA/COA accounting system on remote servers, also known as “the cloud.” This method has a number of advantages over traditional accounting software. Whether you’re managing a large HOA, a smaller COA, or a mixed portfolio of clients, using cloud-based accounting software like CINC Systems will drastically improve the running of your association management business.

Cloud accounting software for HOA/COAs will save time and help you manage your clients’ finances much more efficiently. Cloud software makes it easy to share financial reports and other data with your clients. It also allows other members of your management company to access this data remotely at any time and any place. Here are some key differences between cloud accounting software and traditional accounting software. Learning more about cloud accounting software will allow you to see how applications can optimize client management services.

Best Uses for HOA/COA Cloud Accounting Software

HOA/COA cloud accounting software such as CINC Systems will make your job even easier. HOA/COA Cloud accounting software can help you streamline tasks such as:

• Paying Bills: use HOA/COA accounting software such as CINC Systems to automate billpay for your clients’ utilities and other regular expenses.
• Collecting Resident Fees: enable a payment web portal where residents can pay their association fees online.
• General Ledger Accounting: get a live snapshot of your clients’ finances and track expenditures in real-time.
• Reconciling Outstanding Invoices: pay invoices for third-party services and vendors online with the click of a button.
• Create Financial Reports: automatically generate financial reports to share with clients, including custom data sets for specific time periods or financial categories.

HOA/COA accounting software also enables your business to go paperless. With accounting software like CINC Systems, everything is done online. This includes deposits, so you can eliminate unnecessary trips to the bank.

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Cloud Accounting vs. Traditional Accounting

Using accounting systems of any kind will give your HOA/COA management company many advantages. However, cloud accounting differs from traditional software in many ways. With traditional accounting software, added data remains stored on a specific computer. It can only be accessed from that account. If you need to share accounting data with coworkers or clients, you’ll have to export it and share the data manually.

With cloud accounting software, there’s no need to install a large application on your business’ computers. Simply create an account and log in to access the software. That way, any data you enter for your HOA/COA clients will be stored remotely in the cloud. You can access their accounts from any computer or tablet with an internet connection. This also makes sharing data much easier because other users can also log in remotely.

Cloud Accounting Software Has Fewer Software Requirements

Because cloud accounting software doesn’t need to be installed on your computer, the system requirements tend to be much lower compared to traditional accounting software. There’s no need to worry about whether your computer has enough hard drive space or a fast enough processor.

In general, as long as your computer can access the internet, you can use cloud accounting software for HOA/COA management. Many HOA/COA cloud accounting software applications can also be used on a tablet. This offers greater convenience than a stationary desktop.

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Share Data with Coworkers and Clients Easier

Cloud accounting software also allows you to share data with coworkers and clients more easily than traditional accounting software. If your HOA/COA management company has multiple members working on the same accounts, each team member can access their accounting dashboard from their own individual computers. Simply create unique logins for each person who needs access. Team members can also work collaboratively with one another in real-time from remote locations.

Additionally, cloud accounting software makes it easier to share accounting data with clients. When you’re managing an HOA/COA, you’ll need to provide financial reports to the board. These reports help the client understand their budget and expenditures, offering a snapshot of the HOA/COA’s financial health.

With traditional accounting software, you often need to generate these reports by hand, then print, scan and email them as separate file attachments. Cloud accounting software, on the other hand, allows you to share financial reports by inviting the client to the software dashboard or by using an automated email functionality.

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Go Mobile with Cloud Accounting Software

Most cloud accounting software for HOA/COA management, such as CINC Systems, offers full mobile integration. This means you’ll be able to access your clients’ financial accounts from your tablet or smartphone. When you’re managing HOA/COAs, you may find yourself traveling to different locations on a regular basis. Cloud accounting software gives you the freedom to work from anywhere. You can manage one client while being on-site for another.

Data Security for Your HOA/COA Clients

Using HOA/COA accounting software that’s cloud based offers greater security than traditional accounting software. Although your client’s data is stored remotely, it’s spread out across multiple servers using secure encryption technology. Companies that offer cloud-based software take many cybersecurity precautions to ensure data is always protected.

Additionally, cloud accounting software backs-up automatically. This eliminates the risk of crashed hard drives, stored tapes, and broken computers.

Try CINC Systems Cloud Accounting Software

To really experience the difference between cloud accounting software and traditional accounting software for HOA/COA management, try CINC Systems today. Request a free demo, or call (855) 943-8246.

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There are many advantages to using cloud-based software for homeowner association (HOA) and condominium association (COA) management. Cloud-based software like CINC Systems can dramatically streamline your business and help you manage your clients’ HOA/COAs more efficiently. However, some users are concerned that cloud-based software poses a greater risk of data hacking.

You may think that hackers would have no reason to look at the association management industry, but think again. The association management industry is a $5 billion industry; that is reason enough for hackers to be looking at us. All management companies hold private data, account numbers, and possibly even some bank information. At a minimum, your database is a possible opening into your bank(s) database; think about that!

HOA/COA managers are often responsible for the client’s sensitive private data, such as financial information and resident directories, so it’s natural to be concerned about hacking. Additionally, cloud-based software is potentially more vulnerable than traditional software.

With traditional software, your data is stored on one physical server, usually your office computer. Cloud-based software spreads your data across multiple remote servers, also known as “the cloud.” This gives you significantly greater mobile access, which helps when you’re managing HOA/COAs, but it also means that hacking is a bigger threat.

Luckily, it’s easy to protect your association management data from cloud hacking. If you follow the right security precautions, your data is just as secure in the cloud as it is on a standard traditional server. To make sure your clients’ HOA/COA data is never compromised by a data breach or other forms of hacking, here’s how you can protect it in the cloud.

Limit Access to Essential Staff Only

Many types of cloud hacking occur due to human error. Hackers love to exploit weaknesses caused by oversight or negligence. If HOA/COA data isn’t handled with care, it can be an easy target for a breach. The first step to protecting association management data in the cloud is making sure there are no holes or leaks in your system.

This means that you should prevent cloud security threats by limiting access to essential staff only, such as yourself and any co-managers. If your HOA/COA management business employs multiple staff members, review everyone’s role and see who needs access to specific information. For example, let’s say you have a receptionist who doesn’t directly work with your clients or handle any tasks for the HOA/COA’s operation. He or she might not need access to all data in your management software platform.

If possible, customize your HOA/COA management software so you can create different “tiers” of access for your employees. If you have an employee who is responsible for handling resident work orders but never deals with financial reports, you may be able to restrict this individual’s access to the client web portal. If their account is hacked, the only data that becomes compromised is the data they had permission to view.

By restricting access to your association management clients’ data, you reduce the likelihood of a co-worker or employee accidentally causing a full security breach.

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Create Strong Passwords

Next, create strong passwords. This is one of the biggest steps you can take to improve your cloud data security. Often, hackers use complex software that cycles through common words and number combinations until it cracks your password. You may think a password like “nameofmyolddog33” is clever, and it might be impossible for your friends and co-workers to guess, but a hacker can gain access to an easy password within minutes or even seconds.

This is why experts recommend creating strong, unique passwords. If you’re not sure how to make a secure password to protect your HOA/COA data in the cloud, follow these tips:

• Use between eight and 16 characters.
• Include a mix of uppercase letters, lower case letters, numbers, and symbols.
• Substitute numbers and symbols for letters, such as “$” for “S” or “8” for “B.” For example, spell “Baseball” as “8a$e8all.”
• Avoid obvious words like the name of your business, clients, family members, or pets. Consider inventing an acronym that would only make sense to you, such as a word created from the first letter in each line of your favorite song.

Never use the same password twice. It’s tempting to have the same password for all of your online accounts, but this poses a big security risk. If a hacker manages to crack the password for your email account and it’s the same password for your HOA/COA management software, your clients’ data becomes vulnerable.

Also, never share your password with anyone or store it in a list on your computer or phone. Experts also recommend changing your passwords every three to six months. If you have difficulty remembering your passwords, consider using a secure keychain app like LastPass or KeePass.

Share this information with your coworkers to keep your accounting management software data safe in the cloud. Encourage everyone who has an association management software account to create a strong, secure password of their own.

Don’t Use Auto Logins

Most websites, apps, and software programs give you the option to stay logged in all the time, or remember your password for easier access. Although this is a convenient feature, it’s not ideal for cloud security. If you stay logged in, it creates more opportunities for other people to access your clients’ HOA/COA data.

Instead, train yourself to log out each time you’re finished working and log back in the next day.

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Keep Your Devices Secure

With cloud-based association management programs, your clients’ data won’t be stored on your computer. However, it’s still important to keep your devices physically secure. If an unauthorized user gets access to your computer or tablet while you’re logged into your management software, that’s a big data risk.

To avoid this, follow basic anti-theft precautions. Don’t leave laptops or tablets unattended in a public place or in a car for long periods. When you travel, make sure you use a secure briefcase or laptop bag. Finally, take steps to secure your business’ office so no one can access or steal your devices.

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Protect Your Association Data with CINC Systems

With CINC Systems, your HOA/COA management data is always secured in the cloud using the latest data encryption and other protections. Try a free CINC Systems demo by calling (855) 943-8246.

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Data management is an important part of any business. When you’re managing a homeowner association (HOA) or condominium association (COA), how you store your client’s data is crucial. Using cloud servers and cloud-based management software like CINC Systems offers many benefits over traditional data storage. Transferring your data to the cloud will help you manage your clients’ HOA/COAs more efficiently.

So how do you transfer your association management software data from your servers to the cloud? Depending on your business’s digital infrastructure, transferring your data may take some time. Moving your data to cloud storage is a process that involves a few key steps. Although you may be tempted to rush the process, each step will ensure that your data stays more secure, organized, and easy to access.

If you’re thinking about transferring your client’s HOA/COA data to the cloud, here’s what you need to know.

Benefits of Cloud Servers

First, it’s helpful to understand the benefits of cloud storage versus traditional data storage. With traditional data storage, your HOA/COA management data exists on the physical hard drives and computers located in your office. Think of a traditional server like a file cabinet, where all of your client’s data is stored on files in one place. If you need access to those files, you have to be in the same location as the file cabinet.

With a cloud server, you can access your client’s HOA/COA data anywhere. A cloud server means that your data is stored on remote servers, or “in the cloud,” rather than existing on a single computer. Cloud data storage allows you greater mobility than traditional data storage because all you need to access the data is a username and password. You’re not tied down to a specific computer.

Cloud servers are also more secure. When you upload data to the cloud, most software developers use state-of-the-art encryption to protect it. Encryption “scrambles” the data so that it can’t be read by unauthorized third-parties. Plus, remote cloud servers are usually spread out across multiple physical locations. This means that if one server becomes compromised by a hacker or goes offline due to a technical problem, the data stored on the other servers is still safe and intact.

As an HOA/COA manager, cloud storage is a great choice for your business. Using cloud servers for your data allows you to manage your client’s associations from any location, 24/7. The increased security is also a great feature because you’re often working with financial data and residents’ private information.

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Sign Up for Cloud-based HOA/COA Management Software

Given the benefits of cloud storage, most HOA/COA managers can streamline their businesses and manage clients more efficiently by transferring their data to the cloud. The first step in this process is choosing a cloud-based HOA/COA management software platform, such as CINC Systems.

Cloud-based HOA/COA management software can be customized for any association, large or small. You’ll be able to find software that handles the unique needs of each of your client’s associations. After you’ve selected the cloud-based HOA/COA management software you want to use, purchase the software or sign up for a subscription.

Create Accounts with Secure Passwords

After you’ve acquired cloud-based software, the next step for transferring your HOA/COA management data to the cloud is to create accounts with strong passwords. Make new, separate user accounts for anyone who needs access to the software. It may be tempting to let your co-managers or other employees share one account, but this isn’t secure.

When creating accounts, everyone should use a strong password. Experts recommend creating a password that’s between eight and 16 characters long. It should include a mix of capital letters, lowercase letters, numbers, and symbols such as $, @, or %. Use a brand new, unique password for your HOA/COA management software that you don’t use with any other software program or account.

Never share your password with anyone else or store it on your computer in a Word document, spreadsheet, or email. If you have difficulty remembering all your different passwords, try using keychain software. You can also write the password down on a piece of paper to keep in a private, locked safe.

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Backup Your Data on an External Drive

You’re almost ready to start transferring your association management data to the cloud! Before you do, however, we recommend creating a physical backup. This will protect your HOA/COA data just in case there is a problem during the transfer.

Purchase a brand new external hard drive or USB drive, then transfer your data to this drive. Depending on how much HOA/COA data you have, this probably won’t take more than an hour. Create a password to protect the hard drive or USB drive, safely eject it from your computer, then store it in a secure location.

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Use a Secure, Reliable Internet Connection

Next, check your internet connection. If possible, connect your computer directly to your modem via an ethernet cable instead of using WiFi. When you are transferring data to the cloud, it’s important to use a reliable internet connection to avoid disruptions. If you get disconnected in the middle of the transfer, it can cause file errors. If you’re uploading data in very large quantities, we recommend separating it into smaller batches instead of transferring everything all at once.

Also, make sure your connection is secure and private. Avoid using public WiFi or an internet connection shared by other businesses.

Test the Transfer

After you’ve successfully uploaded your HOA/COA management data to the cloud, now it’s time to test it out. Log out of your association management software, then log back in. You could even try moving to another location. Once you log back in, check to see that all your data is present and accessible. You can also use this time to reorganize your files, if needed.

Once you’ve confirmed that your data is successfully transferred to the cloud, you can delete it from the servers in your office if you feel comfortable. This will save space on your computer and increase its performance.

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To experience the benefits of cloud-based data storage for your HOA/COA management business, try CINC Systems. Request a free demo by calling (855) 943-8246.

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When you manage a homeowner association (HOA) or condominium association (COA), the right software makes all the difference. Using an HOA/COA management software platform like CINC Systems will optimize your work-flow. With great features to help you manage daily tasks for your clients, HOA/COA software can increase your productivity and help your business expand.

HOA/COA software is available for all types of management companies. Whether you manage a handful of HOA/COAs or a large client portfolio with dozens of properties, you’ll find association management software that’s perfect for you. HOA/COA management software can be broken down into two main categories: systems on-premises and cloud systems.

Cloud systems are better for managing properties than systems on-premises. To understand the benefits of cloud systems for HOA/COA management, let’s begin by highlighting the differences between cloud systems and systems on-premises.

What Are Systems on Premises?

Systems on-premises are an older software model that is installed locally on your computer. For businesses like HOA/COA management, this means your software is installed on the laptop or desktop computer in your office. If you have co-managers or employees with their own computers, each person will need a separate copy of the software.

Systems on-premises also means that all your clients’ HOA/COA data is stored on your computer. If you ever work from home or on-site, you’ll need to bring your work computer with you or transfer the data onto an external hard drive or USB drive.

Depending on the HOA/COA program you’re using, a platform that uses the systems on-premises model may also require you to meet certain system requirements. If your computer doesn’t meet these requirements, you’ll need to upgrade or purchase a new computer.

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What Are Cloud Systems?

Cloud systems are software programs that store data remotely or “in the cloud.” Unlike systems on-premises, cloud systems don’t need to be physically installed on your computer. Instead, you simply login through a website or app.

Because cloud systems store your data remotely, you can access your clients’ HOA/COA accounts from anywhere. Cloud systems are very mobile-friendly. It’s also very easy to set up additional user accounts to share with co-managers or employees.

Being cloud-based also means that the computer system requirements are often lower than systems on-premises, so you won’t need to upgrade as often. In some cases, you can even use cloud accounting HOA/COA software on an iPad or tablet.

Now that you understand the differences between cloud systems and systems on-premises for HOA/COA management, here are some of the key benefits to using a cloud system like CINC Systems.

Cloud Systems are More Cost-Effective

Cloud systems are often cheaper than systems on-premises. Cloud systems follow in the footsteps of other apps and use a subscription payment model. This means you’re paying a small fee each month to use the software instead of a large payment upfront.

You’ll also save money with cloud-based software because you’re less likely to need to upgrade to a new computer. Cloud systems also offer built-in security features so you can save on security software and firewalls.

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Cloud Systems are Easier to Install

When you’re managing an HOA/COA, your time is precious. Don’t waste it troubleshooting a new software system! Programs that use a system on-premises models can be complicated and difficult to install. You may need to adjust your computer’s settings or even buy new hardware to get the program to work.

With cloud systems, there are little to no installation issues. Cloud systems use the software developer’s remote servers to process data. This means the part of the software you access on your dashboard doesn’t require an advanced computer system or a lengthy installation process. To use an HOA/COA management program that uses a cloud system, simply login via your web browser or install an app.

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Cloud Systems Offer More Customization

When you’re considering cloud versus on-premises, you’ll want to look at your business’ unique needs. What kind of features will help you manage your clients’ HOA/COAs more efficiently? When a program is based in the cloud, it’s easier for the developers to roll out new features and upgrades. As a result, cloud systems are often more customizable than systems on-premises.

Using a cloud-based system for your HOA/COA management company, you’ll be able to make sure your software can deliver everything you need. Whether it’s accounting features or web portals for association residents, cloud systems enable you to customize your software and create the perfect solutions for your HOA/COA management business.

Cloud Systems Let You Work from Anywhere

As mentioned, cloud systems are more mobile than systems on-premises. This makes them a better choice because you don’t have to be stuck in your office all day. When you manage an association, you’ll often be required to work on-site at your clients’ location.

With cloud systems, you can conduct your work from any computer or tablet with an internet connection. Some HOA/COA management software also offers mobile apps you can use on your phone. By going mobile, you can manage all your clients’ properties from any location, 24/7.

Cloud Systems Offer Better Data Security

Finally, cloud systems offer better data security than systems on-premises. In a cloud system, your data is dispersed across multiple servers in multiple locations. It’s the digital equivalent of storing all your jewelry in different safes in different houses, so even if one safe gets broken into, the rest of your valuables are still hidden.

Cloud systems also use the latest encryption security. This means the data is scrambled and encoded. No one can access it without a password. Although it’s still important to take security precautions on your computer or tablet, cloud systems have built-in security measures. With systems on-premises, you’re relying on your own security. This makes you more vulnerable.

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To see why cloud systems are better for managing properties than systems on-premises, try CINC Systems. To request a free demo call (855) 943-8246.

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Association management software is for more than just managing homeowner associations (HOAs) and condominium associations (COAs). With association management software like CINC Systems, you gain a valuable tool for running your business, not just managing your clients’ HOAs/COAs. Association management software also offers great accounting features.

When you choose the best association management software for your company, you can optimize your workflow and increase efficiency several times over. In many ways, HOA/COA software is like having multiple employees rolled into one. Your association management software can help you with daily tasks, client communication, accounting services, and more.

The right HOA/COA management software enables you to work smarter, not harder. It provides easy-to-use features that help you in all aspects of your management company. Although association management software is vital for the work you perform on behalf of your clients, these powerful programs offer a world of benefits beyond the basics.

So is association management software only for managing homeowner associations? Definitely not! Learn how association management software can help all aspects of your HOA/COA business.

Go Beyond the Basics

There are many different types of association management software. Many of these programs are designed for specific kinds of HOAs or COAs. For example, some association management software is meant for smaller organizations with only a few dozen members. Other software can handle a large portfolio of commercial neighborhood associations. The best software can be customized to handle more than basic management duties.

This is because managing a homeowner association often requires you to go beyond the basics. Every HOA/COA you manage will have certain universal needs, such as site maintenance, payment processing, community rule enforcement, and more. However, every client is unique. Association management software like CINC Systems offers features that go above and beyond to make sure you can deliver amazing service to your clients.

For example, most association managers communicate with their clients’ residents about rules, fee payment schedules, and news regarding maintenance and repairs. But let’s say your client wants you to do more, such as a monthly email newsletter with a community calendar, gardening tips, or other fun topics. Although there are many software programs designed for email newsletters, the right association management software will include features to send emails right from your dashboard.

Association management software like CINC Systems also includes the ability to take photographs of your clients’ properties, to upload for maintenance requests and work orders. This makes it easier than ever to schedule repair jobs for your clients.

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Accounting for HOAs/COAs

Financial management is a very important part of managing an HOA/COA. Most association management software also includes a variety of accounting features for your clients’ finances. With these accounting features, you can say goodbye to spreadsheets, CPAs, and money management software.

As membership-run organizations supported by resident fees, associations have unique financial needs. And, you can use your association management software for this purpose. For example, you can use HOA/COA management software to handle the following accounting tasks:

• General Ledger Accounting: Balance your clients’ books in real-time, automatically, and track incoming withdrawals, deposits, and expenditures.
• Accounts Payable and Receivable: Use HOA/COA management software accounting features to pay vendor invoices, as well as receive payments to the clients’ associations.
• Automate Billpay: Setup automated bill payments for your clients’ monthly expenses, such as landscaping, utility bills, waste disposal, and security services.
• Track the HOA/COA Reserve Fund: Monitor the status of the HOA/COA’ s reserve fund to ensure your client’s organization is in good long-term financial health.
• Receive Resident Fees: Create an online payment portal where residents can submit their association fees electronically, which can then be automatically deposited into the clients’ accounts.
• Create Financial Reports: Use HOA/COA management software to easily create financial reports for your clients, which you can also use to help clients assess their budgets.

When you understand how association management software can handle the unique needs of HOA accounting, you’ll see that this software does more than just manage your clients’ HOA/COA daily responsibilities.

Accounting for Your Business

In addition to accounting features that are useful for your clients, many of the tools provided by association management software will also benefit your own business. Setup a profile for your association management company in your software dashboard to track your own finances. Then, monitor your accounts to ensure you’re staying within your target budget.

Using association management software, many management businesses are able to forgo using other accounting software or spreadsheets. The powerful tools provided in HOA/COA accounting software can be easily transferred and implemented in your own business. For example, you can use your HOA/COA management software to generate invoices for your clients.

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Tools for Marketing Analysis

Finally, association management software is useful for marketing your business. At its core, association management software is about managing and processing data. You gain access to your clients’ finances, as well as statistics about their membership fees, resident move-ins and move-outs, and more.

This gives you a snapshot of the current state of the HOA/COA industry. With proper analysis, you can identify trends and anticipate new challenges that your clients may need solved. With this information, you can expand your client base with targeted ads and other forms of strategic marketing.

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CINC Systems: More Than Just Management Software

Association management software can make a huge, positive impact on your business. By using association management software, your business will grow and you’ll be able to deliver amazing results for your HOA/COA clients.

Experience the difference today. Request a free demo or call (855) 943-8246 to learn more about CINC Systems’ association management software platform.

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Cloud accounting software works by storing data remotely on nonlocal services known as “the cloud.” This means that data is spread out across multiple servers in different locations, instead of being stored on a single hard drive on your computer. For homeowners association (HOA) managers, cloud-based accounting offers many advantages over traditional accounting.

Cloud-based accounting offers increased security because data is encrypted as soon as it’s uploaded, which means that it becomes “scrambled” and can’t be decoded again unless you’re using software with the right decryption key.

Additionally, because the data is stored remotely, you don’t have to worry about losing your clients’ financial information if your computer crashes. Cloud-based accounting software like CINC Systems also helps HOA managers automate many accounting tasks, such as financial reporting.

But how does cloud accounting actually work? Although the process might sound complicated, cloud-based accounting for HOA managers is in fact very simple. To use cloud-based accounting, you’ll need a computer or other electronic device with an internet connection. Then, follow the steps below to use cloud-based accounting software to improve your HOA management business.

Step 1. Choose the Best Software for Your Needs

First, you’ll need to choose the best cloud-based accounting software for your business. Assess the needs of each of your clients, as well as your own needs as a manager. Are you managing multiple HOAs with high volumes of daily financial transactions, or a few smaller HOAs with less activity? What specific features do you need to get the most out of cloud-based accounting? What is your budget for HOA accounting software?

Cloud-based accounting works best when it’s optimized for your unique needs as an HOA management business. Software like CINC Systems offers great features like bank integration, data reporting, and turnkey solutions such as web payment portals for residents. These features help cloud-based accounting software work effectively for any HOA manager and its clients.

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Step 2. Create a Login with a Secure Password

Once you’ve acquired cloud-based accounting software, you’ll need to create a unique login with a secure password. This is one of the key elements of cloud accounting. Because cloud accounting stores data remotely, access to this data needs to be restricted to specific users.

First, consider who in your organization needs access to your cloud accounting software. Do your clients need access? What about any co-managers or employers within your company? Make a list of trusted individuals who will be given access. Because accounting data includes sensitive financial information, restrict access to the people who are essential employees or clients.

Then, it’s time to create a secure password. Do this for yourself and share these password creation tips with anyone else who will be given access to the cloud accounting software.

How to Create a Secure Password for Cloud Accounting

1. Choose a password that’s between 8 and 16 characters.
2. Use a combination of lowercase letters, uppercase letters, numbers, and symbols such as $, %, &, or #.
3. Avoid words would be easy to guess, such as the name of your clients, your address, or other words associated with you or your business. Never use common words or phrases like “password.”
4. Try getting creative with acronyms. For example, use the first letter of each word in your favorite movie, book, or song. Then, substitute letters for numbers or symbols. An “A” can become “4,” or you can use “#” instead of “H.”
5. Never email or text your password to anyone, and don’t store it in a spreadsheet or a Word document on your computer. If you have difficulty remembering your password, write it down on a sheet of paper and hide it somewhere in your home where no one else can access it. You can also use a digital keychain app, such as LastPass or KeePass, to store your passwords securely online.
6. Change your password every three months.

Step 3. Upload Client Data and Use Bank Integration

After you’ve set up your software, cloud-based accounting works by storing your client’s data online. To do this, you’ll need to upload all financial data associated with your HOA clients. This can be time-consuming, but it will be worth the work. Once the data is stored online, you’ll be able to securely access it from anywhere.

As you upload your clients’ data, cloud-based accounting software encrypts it using a secure key code. Encryption means that the data is “scrambled” and can’t be read unless the computer that accesses it has a decryption code. This is one of the key security features of cloud accounting.

You can also use the bank integration features of cloud-based accounting to manage your clients’ HOA finances in the cloud. Bank integration enables you to sync your clients’ bank accounts in one place, so you can monitor their financial transactions and manage finances from your software dashboard without logging into multiple websites.

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Step 4. Manage Financial Data in the Cloud

Finally, use cloud-based accounting software to manage your HOA clients’ data from any location, at any time. Instead of remaining “chained” to your desktop computer in your office, you can manage your clients’ HOA finances from any location with an internet connection.

Going mobile with cloud-based accounting software helps you manage HOAs more efficiently and frees you to multitask for your clients. You can perform accounting duties for one client while being on-site for another. It’s one of the best features of cloud accounting software.

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Try CINC Systems Cloud-Based Accounting Today

Now that you understand how cloud-based accounting works, you can experience the benefits of this type of software for yourself. Try CINC Systems cloud-based accounting software for your HOA management business. With CINC Systems, you’ll be able to streamline many of your daily financial tasks for your clients and help ensure the financial success of every HOA in your portfolio.

We’ve built CINC Systems to handle the needs of any HOA. See how our cloud-based accounting software improves your management business by requesting a free demo today.

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Cloud accounting offers many benefits for homeowners association (HOA) managers. When you manage an HOA, many of your key job responsibilities require accounting skills. Often, you’re in charge of your clients’ finances. With cloud accounting software like CINC Systems, your job becomes much easier.

If you don’t have an accounting background, the financial aspects of association management can seem daunting at times. For an organization like an HOA, balancing the books can quickly become complicated. Luckily, cloud accounting automates many of the most difficult aspects of HOA accounting.

With cloud accounting, you’ll be able to streamline your clients’ accounts and perform your tasks with greater efficiency. Cloud accounting will help you spot errors, prevent fraud, and optimize your HOA clients’ finances. The benefits of cloud accounting make this type of software one of the best investments you and your HOA clients can make.

What Is Cloud Accounting?

Cloud accounting is a term that refers to accounting practices that use “the cloud,” or remote data storage. This means that financial data is stored on multiple servers spread out across multiple locations, rather than just one hard drive on the computer in your office.

With cloud accounting, you access your clients’ financial data by using any device with an internet connection. This means you can perform financial duties for your clients in any location, just by using a username and login, instead of remaining “stuck” in your office.

There are many ways to do cloud accounting. Some managers simply use cloud-based spreadsheets, like Google Suite or Excel, but continue to perform accounting duties the old-fashioned way and calculate by hand.

However, many managers discover the tremendous time-saving benefits of cloud-based HOA accounting software like CINC Systems. In addition to storing data remotely in the cloud, HOA accounting software can automate many of the accounting tasks you face as a manager.

Now that you understand what cloud accounting is, here are some of the key benefits to using this type of financial management software for HOAs.

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Benefit #1. Bank Integration

First, most cloud-based accounting software offers a feature called bank integration. This means that you can link each of your clients’ financial accounts to your software dashboard. Bank integration enables you to monitor financial transactions in real-time, in one place, instead of logging into multiple HOA bank account websites.

Using bank integration features in cloud accounting software is a secure, convenient option for monitoring your clients’ accounts. Bank integration helps you prevent fraud and catch accounting mistakes, such as double-billing.

Benefit #2. Go Paperless

Another benefit of cloud accounting is that enables your HOA management business to go paperless. Storing your clients’ financial data in the cloud means you don’t need to rely on physical spreadsheets and invoices. Simply scan documents and upload them to the cloud, or enter data manually, then documents can be securely destroyed.

Cloud accounting also gives you the ability to pay your clients’ invoices and bills online with the click of a button. This cuts down on paper, as well as mailing supplies like stamps and envelopes. Going paperless is a great option for your HOA management business that’s also environmentally friendly.

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Benefit #3. Generate Financial Reports

Cloud accounting also makes it easier than ever to generate financial reports for your clients. As an association manager, one of your duties includes providing regular financial updates to the HOA’s board. In the past, this could be a very time-consuming process that required gathering data from different sources and compiling by hand.

With cloud accounting software like CINC Systems, you can automatically generate financial reports. Reports can also be custom-tailored to meet specific criteria, such as specific budget categories, time periods, or transaction types. Then, the reports can be emailed digitally to board members.

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Benefit #4. Web Portals for Transactions

Additionally, cloud accounting software for HOAs like CINC Systems offers the benefit of creating web portals for resident transactions. This means you can create a website where residents are able to pay fees and submit work orders online.

Web portals for resident transactions then allow you to make deposits online, pay invoices, and communicate digitally with residents and vendors about the status of a transaction. This is a useful feature that saves time for everyone involved.

Benefit #5. Increased Security

Contrary to popular belief, cloud accounting is also much more secure than traditional types of accounting. Although there have been high profile cases of hacking, these situations are rare and most HOA financial fraud occurs due to internal misuse by employees or board members. Cloud accounting eliminates much of these risks because data stored in the cloud is automatically encrypted.

Data encryption means that the information becomes “scrambled” as soon as it’s uploaded, and it can only be “unscrambled” by a computer that has the right authorization code. In other words, even if someone gains access to your clients’ HOA financial data, they can’t do anything with it because they don’t have the encryption key.

Just make sure to always use a secure password, which experts recommend changing every three months for added security. Additionally, only give other people access to your cloud accounting software when absolutely essential.

Benefit #6. Do HOA Accounting from Anywhere

Finally, cloud accounting gives you the benefit of managing your HOA’s finances from any location. All you need is a computer or electronic device with an internet connection and your username and password. Then, you can log in from anywhere at any time of day.

By going mobile, you’ll be able to perform accounting duties for your HOA clients while multitasking. For example, if you need to be on-site for maintenance or construction, you can still keep an eye on financial account transactions. It’s one of the best features of cloud accounting.

Try Cloud Accounting for Associations with CINC Systems

If you’re not already using cloud accounting as part of your HOA management business, try it today. Click here to request a free CINC Systems demo. Discover all the ways cloud accounting can provide benefits to your business.

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