P.D. from New London County, Connecticut writes:
Dear Mister Condo,
What accounting program should a self-managed condo association use?
Mister Condo replies:
Hi, P.D.! I don’t think it too much matters which accounting software program is used as long as the records are kept professionally. I know of small associations that use manual systems. I know of some associations that use simple Excel spreadsheets and I know some that use QuickBooks, which can be pretty useful for generating reports. There are industry-specific accounting programs that have all sorts of bells and whistles such as online reporting and payment processing options for unit owners to pay their common fees and assessments from their computer or smart phone. One CAI member has an accounting business designed exclusively for self-managed associations like yours! You can read more about it at https://communityfinancials.com. It may be a good fit for your association. Good luck!