What Does HOA Accounting Cost?
Most HOA accounting firms make you book a call before they will talk about price. We think a board treasurer should be able to see the numbers first. Here is what outsourced accounting costs for an HOA or condo association, what changes the price, and what we charge.
Get your association’s number
Or call (970) 633-3997
What most associations pay
For full monthly service, a typical association pays somewhere between a few hundred and several hundred dollars a month. The biggest factors are the number of units and how much activity runs through the books each month.
At Powder Accounting Group:
- Minimum: $200 a month for monthly service
- A 60 unit association: usually about $500 to $625 a month for full monthly service
- Quotes are set in $25 steps, based on your actual volume
- No setup fee, no long term contract (90 days notice to end), and a 3% annual adjustment after the first year
You can get your own number in about a minute with our HOA accounting estimator.
Monthly, quarterly or annual service
Not every board needs monthly books. Smaller or quieter associations often do fine with less.
- Monthly: full financials every month. Best for associations with regular dues, vendor bills and reserve activity.
- Quarterly: books brought current and reported four times a year. A fit for small associations with light activity.
- Annual: a once a year cleanup and year end package, often paired with the tax return.
The estimator shows all three so you can compare.
What drives the price
- Number of units. More owners means more dues to track, more ledgers and more collections follow up.
- Transaction volume. How many bills, deposits and transfers move through the accounts each month.
- Number of bank accounts. Operating, reserve and any special assessment accounts each need their own reconciliation.
- Condition of the books. Books that are behind or messy may need a one time cleanup before monthly service starts.
- Extras. Special assessments, loans, insurance claims and capital projects add work while they are active.
What is included
Monthly service covers the core work a board needs to run the association. See our full HOA accounting services for details.
- Bank reconciliations for every account
- Owner ledgers and dues tracking
- Bill entry and payables, with the board or its manager approving every payment
- Reserve tracking
- A monthly financial package for the board: balance sheet, income statement with budget comparison, and delinquency report
- Budget preparation support at year end
The board keeps control. The board adopts the budget, approves payments and keeps its own signers on the bank accounts. We keep the records and prepare the reports.
Optional add ons
- Annual tax return (Form 1120-H or 1120): $400 for up to 50 units, $500 for 51 to 150 units, $600 for 151 or more units
- 1099 preparation: $15 per form
How this compares to other options
- A management company bundles accounting into a larger fee that also covers vendors, maintenance and owner communication. If your board already handles those things, you may be paying for services you do not use.
- A volunteer treasurer costs nothing in cash, but the work usually falls behind when that person moves or burns out, and cleanup later costs more.
- A local CPA firm is often priced by the hour and focused on the year end audit or tax return, not the monthly books.
Questions boards ask
Is there a long term contract?
No. There is no long term contract and no setup fee. Either side can end the engagement with 90 days notice.
Do prices go up every year?
After the first year, the monthly fee adjusts by 3% each year.
Will you meet with our board?
Yes, during business hours, by video or in person when it helps. Most boards hold their evening meetings on their own using the monthly financial package we prepare.
What if our books are behind?
We will tell you up front if a cleanup is needed and what it costs before any monthly work starts.
Do you work with self managed associations?
Yes. Many of our clients are self managed boards. See accounting for self managed HOAs.
Get your number
Use the estimator for a price in about a minute, or call (970) 633-3997.