Bookkeeping built on proper fund accounting rather than the generic templates often applied to associations. The service covers monthly recordkeeping, assessment and dues tracking, accounts payable, bank and account reconciliations, and the preparation of financial statements, including the balance sheet and the statement of revenues and expenses. Operating and replacement funds are tracked and reported separately, consistent with the accounting standards specific to community associations. Because the work is performed by a CPA who specializes in community associations, the books are prepared to withstand the scrutiny of your annual audit.

Financial guidance to support the board's decision making. This includes preparing and reviewing the annual operating budget, analyzing whether reserve funding is adequate for the association's future repair and replacement obligations, and presenting the financial statements in a form the board and homeowners can readily understand. It also includes consultation on internal controls and fraud prevention, which many associations have little formal structure around, as well as financial input on special assessments, major capital projects, and transitions between management companies. These services are available on an ongoing basis throughout the year rather than only at the close of the fiscal year.

Preparation of the association's annual tax filings, which follow rules specific to community associations and depend on how the association is organized for tax purposes. Associations taxed under the corporate rules require an annual evaluation of whether Form 1120-H or the standard Form 1120 produces the lower tax, an election that can be made anew each year rather than carried forward by default, along with the proper classification of exempt function income versus taxable income. Associations that hold federal tax exempt status instead file the appropriate return in the Form 990 series, either Form 990, Form 990-EZ, or Form 990-N, depending on the association's gross receipts. The service also covers any required state filings and the preparation of annual 1099s issued to vendors, with all returns prepared accurately and filed by their deadlines.