Association Money: It’s a Big Deal!
At HMS, we understand that financial stability leads to successful Associations. Our exceptional standards for money management include total transparency, detailed financial reports, collection agency services and standardized policies, all at NO additional charge to the Association!
Prepare a Board-Approved Collection Policy
Mail Statements: Annually, Semi-Annually, Quarterly or Monthly
Special and Specific Assessment Billing ; Utility Billing Upon Request
Multiple Payment Options for Homeowners
Check, Money Order, Online Bill Pay
American Express, Visa, Master Card, Discover
Assisting with Payment Plan Options
Adding Approved Late Fees and Interest to Homeowner Accounts
Sending Monthly Late Notices and Warnings of Collection Action
Engaging a NO-NET-COST Collection Agency as a First Line of Defense
Credit Reporting Services
Assisting Legal Counsel with Lien Filings
Lien release letters
Processing All Association Payments
Approval Methods based on Board Direction
Invoices Available Online
Vendor Insurance Verification
However your homeowners need to make payments, HMS wants to make it easy!
Send your payment by check to our dedicated payment processing center as detailed on your statement.
We have a complete accounting team and we are happy to assist all our homeowners, simply Contact HMS!
Financial Reporting & Tax Preparation
HMS makes it simple!
Accounting can be difficult to understand and some software systems present the information in a very confusing manner. At HMS, we understand that each member of the Board may have varying degrees of experience with budgeting, financial report analysis and cash management. As a result, we have created educational materials and presentation formats that simplify the work. Our goal is to give each member, not just the treasurer, the confidence they need to vote on important matters.
Maintain Operating Accounts
Maintain Reserve Accounts
Bank Statement Reconciliation
Prepare Financial Report Monthly
Income Statements & Balance Sheets
General Ledger & Budget Comparison
Assessment Tracking & Aging Reports
Financials are Available When Needed—In the Beginning of the Month!
Accounts payable are processed by a local team every week, creating timely payments month after month. Transparent software allows 24/7 access to all reports, invoices and other relevant information.
Budgeting, Taxes and Corporate Recording
Preparation of the Annual Budget
Property Tax Filings and Appeals
Coordination of Annual Tax Return with Accounting Firm
Managing Federal Tax Notices (Vendor 1099s )
Maintaining Secretary of State Listing