How do you ensure best practice bookkeeping is done correctly on a consistent basis at your Homeowners Association (HOA ) or Condo community?  You standardize your process, document it, add checklists and then inspect that your accounting team is following the system.

Earlier in my career, I was an Army Captain.  The Army had Standard Operating Procedures (SOPs) that included step-by-step instructions for every task.  The SOP ensured that all soldiers were doing what was required in the same way and not missing steps.  The same goes for pilots flying a plane.  They have their pre-flight inspection checklist to ensure nothing is missed and the plane is safe to take off.  A great book on the power of checklists is the “Checklist Manifesto” by Dr. Atul Gawande who was also a Professor at Harvard Medical School.  He used the power of checklists to improve surgical outcomes.

We’ve incorporated the power of checklists into our accounting service.  Our workflow software provides a checklist of tasks for staff to follow.  The tasks could be adjusted for a particular client but the majority of items are standardized and helpful instructions for each task are available as a reference.  Using this system ensures consistency of service.  It also prevents items from falling through the cracks.  If a colleague is pulled away from completing their work, they can see exactly where they left off without missing a step.


If you are looking to improve the accounting outcomes at your homeowner’s association, HOA, or condominium community I suggest checklists.  If you want a service to do the monthly accounting for you Community Financials is here to help.