If you manage a condominium or HOA, you could be handling millions of dollars every year. There’s no way you can effectively keep track what revenue and expenses by logging transactions manually.
Many community managers and leaders have turned to QuickBooks for their accounting needs; after all, it is one of the most popular and trusted accounting software for small businesses.
But did you know that QuickBooks also integrates with hundreds (over 750) apps?! This type of flexibility allows associations to combine their favorite software platforms and gain an additional productivity boost instead of having to choose one over the other.
Though we have not assessed every option available, we wanted to highlight 5 integrations that could be very beneficial to community associations.
Table of contents
What is QuickBooks?
If you aren’t already using QuickBooks, here’s a bit of information about the accounting solution.
QuickBooks is best known for its bookkeeping capabilities. But it offers a wide range of accounting and finance solutions for small businesses. For example, it helps with:
Invoicing
QuickBooks makes it easy to create invoices either from scratch or from an earlier estimate. Users can even set up invoices recurring payments.
Bills & expenses tracking
Connect your association’s bank and credit card accounts to the software. If you do this, QuickBooks will track the association’s bills and expenses automatically. That being said, you still have the option to record a manual transaction into the system. There are also reports available that make it easier to analyze bills and expenses.
Employee time and expense tracking
With QuickBooks, teams can track billable hours/expenses incurred by staff. The QuickBooks Time Kiosk allows teams to clock in and out from the same device or location. All you need is a computer or tablet with an internet connection. You can even enable photo capture and biometric facial recognition to curb “buddy punching.”
Online Payments
QuickBooks Payments gives organizations a safe and easy way to take online payments when invoices are sent from within the app. QuickBooks will take payment in local currencies as well, making it possible to operate internationally.
Payroll
The QuickBooks payroll add-on calculates payroll automatically. There are three different plans for this feature so that your business only pays for the functionalities that will serve it best.
QuickBooks is available as a desktop application and cloud-based program. However, access to add-on services to QuickBooks Desktop for Windows 2019 was discontinued after May 31, 2022.
Many will prefer QuickBooks Online (QBO) because it gives users the freedom to use the program from anywhere. Plus you can use the mobile app when you have QBO. Finally, users enjoy free and consistent upgrades when they subscribe to QBO. This is not freely available with QuickBooks Desktop.
Why is it so popular?
QuickBooks is an accounting system designed for non-accountants. Compared to similar options, it is relatively easy to use. Training is still required, but given its popularity, you won’t have to look hard to find a YouTube video with an answer to your question.
The program is very dynamic and allows you to scale as needed. You can start with a single app, such as the accounting software, and add others later on. You can also remove features as needed.
The main criticism is that QuickBooks can get expensive as you select more add-ons, and some functionalities are only available if you sign up for the most costly subscription. However, the millions of customers who use QuickBooks would probably argue that the costs are well worth the results.
Then there are the thoughtful extras, such as the integration capabilities. QuickBooks really does aim to make life easier for its customers.
Who can benefit?
QuickBooks has proven to be most beneficial to entrepreneurs and small organizations. About 60% of users work in organizations with 50 or fewer employees. Around 87% of customers reported revenue of under $50 million.
The industries using the software the most include construction, IT services, accounting, hospital and health care, non-profit organizations, and real estate.
Condos and HOAs are technically non-profit organizations, and very few would be bringing in more than $50 million annually. This makes them ideal candidates for QuickBooks.
Must-have integrations
As noted at the beginning of this article, QuickBooks integrates with over 750 apps. We could not evaluate each one, but we have selected 5 that we feel would help associations save time, money or both.
- Condo Control
Condo Control makes property management problems and headaches disappear. It is a leading software platform that automates or streamlines communications and day-to-day operations for condo and HOA communities.
Much like QuickBooks, Condo Control is very easy to use, it has a great mobile app, and users can add features as they need them.
QuickBooks and Condo Control work together to provide a comprehensive accounting and data management solution.
The two-way sync capability between the platforms means staff only have to enter data into one platform. The change is automatically reflected in the other. As a result, finance teams save countless hours of valuable time.
Residents can make payments for select unpaid invoices or bookings using their Condo Control account, and the payment will automatically appear in QuickBooks Online.
By using both programs, communities create a data management process that is both simple and more accurate.
2. AutoEntry
If you hate typing in numbers, you’re going to love AutoEntry. AutoEntry captures data from invoices, receipts and bank statements. Take a photo, scan or email the documents and let the software do the hard part for you.
When integrated with QuickBooks, you can send the information directly to the platform. It can even auto-publish to QuickBooks if you are comfortable with that option.
Combine AutoEntry with QuickBooks and you can stop collecting paper receipts.
3. Gusto
Gusto is a top-rated HR platform for payroll, benefits, and more. 72% of customers say they learned how to use the payroll function in under 10 minutes. Plus, with automatic federal, state and local tax filings and W-2s, management can leave much of the grunt work to the system.
Combine Gusto with QuickBooks so that each time you run payroll, cancel payroll, or make a correction, your total wages, taxes, and reimbursements automatically appear in the expenses section of your QuickBooks Online account. Gusto has even offered to pull in your employee data from QuickBooks Online to streamline the setup process.
4. DocuSign
DocuSign lets you obtain digital signatures from vendors or anyone providing a service to the association. These signatures are legally binding, just as they would be if the document were signed in person. The main advantage is that you don’t have to send items through the mail or arrange for an in-person meeting.
Users will need the most comprehensive package to access the DocuSign integration, but if they have it, they can securely send financial items created in QuickBooks to recipients and obtain electronic signatures directly from the system. Staff will be notified of the status of their documents so they aren’t left wondering when the document will be returned.
Recipients do not need an account to sign items through DocuSign which is a good thing. If they were required to make an account, it would slow down the return process.
5. Zapier
Zapier essentially gets your apps to work together without a developer. As a result, you can automate several workflows and save a ton of time. Some practical uses of Zapier include automating emails, turning emails into tasks, backing up files, and tracking social media performance.
When you combine Zapier with QuickBooks Online, you can align apps like Freshbooks, PayPal, Harvest, and Salesforce to bypass tedious data re-entry. Condos and HOAs can do things like generate receipts in QuickBooks for Stripe charges, Add new residents from QuickBooks contacts to Google contacts or add new residents from QBO to your MailChimp newsletter lists.
Conclusion
QuickBooks is an accounting system trusted by thousands. It is ideal for small organizations and businesses, including condo and HOA communities.
Not only does QBO offer different pricing packages, but the ability to combine it with software you already use makes it a top accounting software candidate.