HOA Accounting DC
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HOAs and condo associations are established as non-profit entities. That means every cent from owners’ dues must go to completing the duties of the organization. No one profits from it. In fact, the board members are volunteers. But even non-profit entities have income to collect and expenses to track. And every cent — from the owners’ dues coming in to the monthly maintenance expenses to the funds earmarked for particular improvements or replacements — has to be painstakingly tracked and managed.
