Setting Up Payment Tracking
Learn how to track payments, manage balances, and monitor payment status.
Overview
HOAMS provides comprehensive payment tracking for HOA dues, rent, special assessments, and other fees. This guide covers how to record and monitor all property-related payments.
Recording a Payment
1. Navigate to Payments
From the sidebar, click Financials → Payments.
2. Click "Add Payment"
Click the "Add Payment" button to open the payment form.
3. Select Property
Choose the property this payment is for. The system will auto-populate owner information and property details.
4. Enter Payment Details
- Amount: Payment amount in dollars
- Payment Type: Monthly dues, special assessment, late fee, maintenance fee, fine, or other
- Payment Method: Check, cash, credit card, bank transfer, online, or other
- Payment Date: When payment was received
- Due Date: Original due date for this payment
- Reference Number: Check number or transaction ID
5. Set Payment Status
- Pending: Awaiting processing
- Completed: Successfully processed
- Failed: Payment attempt failed
- Refunded: Payment was returned
- Overdue: Payment past due date
6. Add Notes (Optional)
Include any relevant details about the payment.
7. Save Payment
Click "Record Payment" to save.
Tracking Account Balances
Each property has an account balance field that tracks what's owed:
- Positive balance: Property owner owes money
- Negative balance: Property has a credit
- Zero balance: Account is current
The system automatically updates balances when you record payments or apply charges.
Payment Dashboard Features
Payment Filters
Filter payments by:
- Client
- Property
- Payment status
- Payment type
- Date range
Payment Statistics
View key metrics:
- Total payments received this month
- Outstanding balances
- Overdue payments count
- Payment completion rate
Export Options
Export payment data to:
- Excel spreadsheets
- PDF reports
- QuickBooks (if integrated)
Online Payments (Tenant Portal)
Tenants can make payments directly through the Resident Portal:
- Tenant logs into Resident Portal
- Views current balance and due amount
- Clicks "Make Payment"
- Enters payment information
- Payment is processed and recorded automatically
Payment Reminders
Set up automatic payment reminders in Settings → Payment Reminders:
- Days before payment due
- Past due notifications
- Email template customization
- Auto-send frequency
Handling Late Payments
1. Identify Overdue Accounts
Filter payments by "Overdue" status to see delinquent properties.
2. Apply Late Fees
Create a new payment record with type "Late Fee" and add to the property balance.
3. Send Notices
Use the messaging system to notify property owners of overdue amounts.
4. Update Property Status
Change property status to "Delinquent" in the property details.
Best Practices
- Record payments promptly: Enter payments within 24 hours of receipt
- Always include reference numbers: Record check numbers or transaction IDs
- Match due dates accurately: Proper due date tracking prevents confusion
- Use consistent payment types: Standardize how you categorize payments
- Reconcile monthly: Compare HOAMS records with bank statements
- Document partial payments: Note in comments if payment doesn't cover full amount
Troubleshooting
Balance doesn't match? Check for missed payments or unapplied charges.
Payment not showing? Verify the correct client is selected in the dropdown.
Can't edit payment? Check your user permissions for accounting access.
