How to Enroll in Bookkeeping

To watch a video walkthrough of the enrollment process, click here.

PayHOA's in-app bookkeeping module connects your community with a dedicated bookkeeper who handles your monthly financial reports. Follow the steps below to complete your enrollment.

To begin enrollment, click Get Started at the top of the bookkeeping page. You'll be asked to provide contact information for the board member who will serve as the main point of contact with the bookkeeper. You may have multiple board members, but the person listed here will be the primary representative for managing the bookkeeping relationship.

Next, you'll provide details about your current accounting setup.

Accounting Method: Select whether your community uses cash or accrual basis accounting. If you're unsure, you can review the helpful guide linked on the page or select Uncertain and your bookkeeper will help determine this for you.

Fiscal Year: If your fiscal year follows the standard calendar year, select that option. If your community operates on a different fiscal year, select the alternate option and indicate the first month of your fiscal year.

Chart of Accounts: If you're a new customer and haven't yet set up your chart of accounts in PayHOA, select the option indicating you need help with setup. If your chart of accounts is already configured, select that everything is set up.

Report Frequency: If you'd like to receive quarterly reports in addition to your standard monthly reports, select monthly, quarterly, and yearly. Quarterly reports are available at no additional charge.

Lockbox Service: If you'd like to continue accepting paper check payments from homeowners without collecting them yourself, you can have the bookkeeper enroll you in PayHOA's lockbox service. This service collects and processes paper checks on your behalf.

Report Start Date: Select the first month you'd like reports from the bookkeeping service to begin. Keep in mind that bookkeeping reports are produced in the following month. For example, October reports would be generated in November.

Alliance Association Bank Discount: PayHOA offers a direct integration with Alliance Association bank which offers several benefits for associations. Click here to learn more about the integration. In addition, associations with Alliance Association Bank Accounts are eligible for a 15% discount on their bookkeeping subscription fees. If you're interested in a 15% discount on your bookkeeping service, select Yes, I'm interested. After you complete enrollment, a member of the AAB team will reach out to you with details and help you get set up.

If you need reports prepared for prior periods, fill out the information in the backdating section. Let the bookkeeper know which periods you're interested in having backdated and what financial information you have available from those periods. Once you've enrolled, your bookkeeper will review these details and provide a personalized quote for any backdated reports.

If you're a new customer and haven't set up your recurring homeowner invoices yet, you can request that the bookkeeper handle this for you. Select Yes, please set them up for us and provide as many details as possible, including active dates, due dates, amounts, and any late fees that need to be set up.

Finally, upload any prior financial statements to help your bookkeeper get started. If you're beginning at the start of a fiscal year, include the statements from your last fiscal year. If you're starting mid-fiscal year, include year-to-date statements for the current period.

Once you complete the enrollment, the bookkeeping team will review your details and begin the onboarding process.