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Tour - Financial

This tour gives you a general overview of our features. View specific details and screenshots on each feature.
The Power of One Solution
It wasn't that long ago that people would carry a camera, a phone, a checkbook and wait to get home so they could check their email on their desktop computer. Unfortunately, many neighborhoods have the same inefficiency when administering financials, invoices and payments. With HOA Sites, members enjoy the convenience of viewing their invoices through your website. Members also make payments through your same website. Even better, these transactions automatically create accounting entries and update your financial reports. No more external links and separate logins to third party payment providers. No more dealing with interfaces and exporting data as you try to keep systems in sync. This is the realization that makes you more efficient and allows us to automate your tasks that matter most.
Automatic Accounting
Designed For Non-Accountants and Accountants
There's no need to be an accountant. We have created a solution that does the accounting for you. Accounting entries are automatically created based on day-to-day transactions entered on the website. These transactions feed important financial reports that help you analyze your financial health. Manual accounting entries can also be created to move money between accounts. This logic follows double entry accounting standards which appropriately applies the debits and credits.
Account Type
Custom Accounts
Many account types are available to choose from for each account. These account types ensure certain transactions are properly recorded and your accounting is in balance.
Sub Accounts
Sub Accounts
Multiple sub accounts can be created to keep reporting useful and activities separate. On reports, the sub accounts will be shown as detail and a total for their parent account.
Settings
Changeable Accounting Method
Choose a default accounting method of either cash basis or modified accrual basis. This setting can be changed on-the-fly and all accounting transactions and financial reports will reflect the change.
Invoices
Create invoices in bulk, automatically or manually. You've got it covered.
The website can automatically create invoices based on member activity on the website. For example, a member buys a product or renews their membership. An administrator can also manually add an invoice and mass create invoices for all or selected members. Invoices are attached to a member or property so that members with access to their invoices can view their transaction history and make payments. Custom messages can be added to individual invoices to give the member additional information.
Transaction Lines
Multiple Transaction Lines
Each invoice can have multiple transaction lines to store details for memberships and products. Multiple quantities can also be entered which automatically updates the invoice total. Reports track how much of each item has been sold.
Invoice Rules
Membership Renewal Rules
When a membership renewal invoice is paid, the member's expiration date can be automatically adjusted to a specific date or to a calculated date based on their membership's renewal rules. This automation saves you time.
Track Payments
Single Payments | Bulk Payments | Automatic Accounting
Each payment can be applied to one or multiple invoices. If a payment covers the open balance of an invoice, the invoice is automatically marked as closed and the accounting entry is created. This process allows the website to track and record all transactions in a single location. Members also have a seamless process to view the amount they owe and make payments.
Payment Details
Payment Details
If a check is received, the check's details are entered for record keeping and for the automatic accounting entry.
Payment Posting
Partial and Full Payments
When a payment is added, the invoices the payment is applied to are automatically closed and the member's balance is updated.
Easy Online Payment Processing
ACH Bank Transfers | Credit Cards | Automatic Payment Posting
Online Payments
When a payment is made online, the payment is automatically matched to the member's open invoices and credit memos. With our automation, there's no need to deal with posting payments. Signing up to accept online payments is simple. Enter your details, the bank account you want funds deposited to, verify your email address for notifications and you are all set. Your account is immediately available and the website is ready to accept online payments. There are no long forms nor approval delays. And because everything is accomplished through your website, your members do not have to sign up for an account with an external payment provider in order to submit a payment. We've made this process simple and seamless for both members and administrators.
Quick Payment
Simple Payment Processing | Member Tracking
Quick Payment follows a different process from issuing an invoice and then processing the payment. Payments can still be made online and entered by an administrator if cash or a check is received. With quick payment the member can visit the website, go to the payment page and either pay any amount they wish or choose the amount(s) made available by the administrator. The payment still follows all of the same controls, tracking and accounting.
Quick Payment
Credit Memo Adjustments
Easily Adjust Members' Account Balance
Credit
Credit memos are used to reduce the amount a member owes your organization. This could be due to an overpayment, too many items purchased or a decision to give the member a discount on future transaction. Members are able to view these transactions and how they affected their account balance. When the member has a future invoice or payment, the credit memo is automatically applied and closed. Credit memos are properly shown on financial reports and are adjusted based on your accounting settings.
Refund Money
Owe a member some money? Not a problem.
When a refund is issued to a member, the transaction reduces your bank account's general ledger balance based on the account the money was refunded from. A payment that was made online can also be refunded to the member's credit card, which automatically records the accounting entry. Members can view refunds in their transaction history and how the refund affected their account balance.
Refund
Bank Deposits
Keep Track Of Your Incoming Payments
Deposits
Chances are you do not take checks to the bank every day. Our deposit process helps you keep track of incoming payments and bank account balances. When the money is taken to the bank, an administrator chooses which payments were included in the deposit and an accounting entry is automatically recorded by the website. The accounting entry updates the bank account balances and for future reference, the detail batch report maintains a history of which payments belong to each deposit. This solves the problem of knowing what checks have not yet been physically taken to the bank and helps reconcile that all money successfully made it into your bank account.
Donations
Charitable Giving Made Easy
In a few steps, visitors can choose a cause and enter their contact information along with their credit card details. Administrators can also enter payments received by other methods. The website automates the process for you by creating the accounting entries, updating the donation progress and populating reports. This also allows members to view their payment history through the website and save documentation for thier taxes. A list of donors can also be displayed on the website.
Donation Campaign
Donation Campaign
Visitors can come to the website and view a list of causes needing donations.
Donation Goal Progress
Goal Progress
Each campaign can optionally show a progress bar based on the donation goal.
Expenses
Get A Handle On Where Your Money Is Going
Expense
Keep track of your organization's spending by creating custom expense accounts. Each account is a category to help organize each type of expense. These expense accounts appear on financial reports so that you can get a better picture of your organization's financial position and historical spending trends. Whether you pay with a check or credit card, the expense entry captures this information and an automatic accounting entry is made to the appropriate account's balance.
Products Available For Purchase
More Than Just Membership Dues
Unlimited products can be created and offered to members for purchase. Individual products can also be set to only be available to certain members based on their membership. These rules go even further by controlling which products are required to be purchased along with quantity restrictions. The cost to purchase a product can also be automatically prorated based on the member's membership renewal period. So, we have built in a lot of logic to make this process automated and easy for administrators. Administrators can also create invoices for products at any time and email the invoice to the member. When a member visits the website, the member can view their open invoices and past purchase history.
Product List
Customizable Product Options
Each product has options for which members can view/purchase the product. Each product can also be configured for which general ledger account is used.
Product
Intuitive Member Purchasing
This is a member's checkout options as they are completing a membership renewal. Quantity and requirement rules are automatically enforced by the website.
Reports
Analyze Your Financial Strengths and Weaknesses
There are many important financial reports at your fingertips:
  • Accounts Receivable Aging
  • Balance Sheet
  • General Ledger Account Register
  • Income Statement
  • Invoice Summary
  • Payment Summary
  • Refund Summary
  • Sales by Membership Type
  • Sales by Product
  • Statements
  • Trial Balance
Journal Entries
Move Money | Adjust Reports
Journal Entry
Manual journal entries can be created to move money between general ledger accounts. Our features automatically make sure your accounting stays in balance. The audit log also keeps track of who made the entry and when the entry was made.
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Since 2001, we have made it our passion to provide efficient processes and user-friendly features that help our clients be proud of their association website. We have developed creative, robust and affordable websites for thousands of associations. Let us show you what we can do for your association.

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