What an HOA chart of accounts is
An HOA chart of accounts is the list of categories your association uses to record every dollar that comes in or goes out. A good one makes your budget, your monthly reports and your tax return line up without extra work.
You don’t need to build it from scratch. Below is a sample HOA chart of accounts you can copy and adjust for a community of about 30 to 150 homes. It works in most accounting tools, including QuickBooks.
A sample chart of accounts for a 30-150 home HOA
The numbering follows a common pattern. Each group of accounts gets its own block of numbers, which leaves room to add accounts later without renumbering.
| Number | Account name | Type | Fund |
|---|---|---|---|
| 1000 | Operating checking | Asset | Operating |
| 1100 | Reserve savings | Asset | Reserve |
| 1200 | Dues receivable | Asset | Operating |
| 1300 | Prepaid insurance | Asset | Operating |
| 2000 | Accounts payable | Liability | Operating |
| 2100 | Prepaid dues | Liability | Operating |
| 2200 | Deposits held | Liability | Operating |
| 3000 | Operating fund balance | Fund balance | Operating |
| 3100 | Reserve fund balance | Fund balance | Reserve |
| 4000 | Regular assessments | Income | Operating |
| 4100 | Special assessments | Income | Operating or Reserve |
| 4200 | Fines and penalty charges | Income | Operating |
| 4300 | Interest income | Income | Operating or Reserve |
| 4400 | Amenity and other income | Income | Operating |
| 5000 | Landscaping | Expense | Operating |
| 5100 | Utilities | Expense | Operating |
| 5200 | Insurance | Expense | Operating |
| 5300 | Repairs and maintenance | Expense | Operating |
| 5400 | Management and administration | Expense | Operating |
| 5500 | Professional fees | Expense | Operating |
| 5600 | Reserve contributions | Expense (transfer) | Operating |
| 6000 | Reserve expenses | Expense | Reserve |
Assets (1000s)
Assets are what the association owns or is owed. Keep one account for each bank account, so your books match your bank statements. Dues receivable shows what owners still owe. Prepaid insurance holds a policy you paid up front and spread across the months it covers.
Liabilities (2000s)
Liabilities are what the association owes. Accounts payable covers vendor bills you haven’t paid yet. Prepaid dues holds money owners paid before it was due, so it doesn’t count as income too early. Deposits held covers money you will return, such as a clubhouse damage deposit.
Fund balance (3000s)
Fund balance is the HOA version of equity. It shows what is left in each fund after liabilities. Keeping separate operating and reserve balances lets anyone see at a glance how much is set aside for the future.
Income (4000s)
Regular assessments are your normal dues. Special assessments get their own account because owners and future boards will want to see them separately. Fines and penalty charges cover any amounts your board adds under its written policy. Interest income and amenity or other income round out the list.
Expenses (5000s and 6000s)
Operating expenses sit in the 5000s and follow your budget lines. Reserve contributions record the money you move into savings each month. Reserve expenses, in the 6000s, are paid from the reserve fund for major repairs and replacements, such as a roof or a repaving project.
Keep operating and reserve money separate
Most HOAs use a simple form of fund accounting. That just means you track two pots of money side by side. The operating fund pays for everyday costs like landscaping and insurance. The reserve fund saves for big, planned replacements.
The chart above tags each account with its fund. When you move money into savings, record it as a reserve contribution in the operating fund and as a deposit to reserve savings. When you pay a reserve project, record it as a reserve expense. Your HOA reserve study tells you how much to set aside and what it should pay for.
Separate bank accounts make this much easier. Many governing documents and some state laws also have rules about how reserves are held and used, so check yours before you set up the accounts.
Why income accounts matter at tax time
Many HOAs file IRS Form 1120-H. According to the IRS instructions for Form 1120-H (checked Oct 24, 2026), to qualify:
- “At least 60% of the association’s gross income for the tax year must consist of exempt function income.”
- “At least 90% of the association’s expenses” must go to acquiring, building, managing, maintaining and caring for its property.
The IRS describes exempt function income as “membership dues, fees, or assessments” from owners, and notes that “charges for providing services don’t qualify.” The instructions also mention a “specific $100 deduction.”
This is why it helps to keep dues and assessments in their own income accounts, apart from items like interest. When income is already split this way, your tax preparer can see what is what without digging through every deposit.
This is general information, not tax advice. Confirm how your association should file and classify income with a qualified tax preparer.
Match the chart to your budget lines
Your chart of accounts and your budget should use the same categories. If the budget has a line for landscaping, the books should have a landscaping account. That way, a budget versus actual report is a simple side-by-side comparison.
When you build next year’s numbers, start from these accounts. Our guide to HOA annual budget planning walks through that process step by step. For a wider view of how dues, reserves and reporting fit together, see the HOA finances guide.
Keep it small: when to add an account and when a memo or class is enough
A small HOA does not need hundreds of accounts. Too many accounts make reports harder to read and entries easier to get wrong. A short chart is easier for the next treasurer to pick up.
Add a new account when:
- The board wants to see the number on its own in every report.
- The item has its own budget line.
- Owners regularly ask about it, such as a pool or a gate.
Use a memo, tag or class instead when you just want to find a transaction later. For example, one repairs account with a memo for each vendor is usually enough. If your treasurer is new to the role, our post on HOA treasurer responsibilities covers the wider job.
Where the chart of accounts lives
The chart of accounts lives in whatever tool keeps your general ledger. For many small boards, that is a general accounting program. Some HOA management platforms include their own ledger with a chart of accounts built in. Either way works, as long as the board can produce clear reports and the next treasurer can follow the books.
BoostHOA tracks charges and payments in its owner portal and has no general ledger, so boards keep the chart of accounts in their accounting tool. Boards can schedule recurring dues that are issued automatically, and owners pay online by card (including Apple Pay and Google Pay) or ACH bank transfer through online HOA payments. To compare options, see BoostHOA pricing.
Frequently asked questions
What accounts should an HOA have?
At a minimum, an HOA needs accounts for each bank account, dues receivable, prepaid dues, operating and reserve fund balances, regular and special assessments, and the main expense lines in its budget. The sample above is a solid starting point.
Do HOAs need separate reserve accounts?
Most associations keep reserves in a separate bank account and track them in separate reserve accounts in the books. Some governing documents and state laws require it. Check your documents and your state’s rules.
Can I use QuickBooks’ default chart for an HOA?
You can start with it, but most boards rename and trim the default accounts to match an HOA’s income and expense lines. Using the structure above as a guide keeps it focused.
How are special assessments recorded?
Record them in their own income account, and note whether the money is for operating costs or reserves. If the assessment is for a reserve project, move the money into the reserve fund.
Who approves changes to the chart of accounts?
Usually the treasurer proposes changes and the board approves them. Check your bylaws for any rules on financial records and who can make changes.
Get your HOA’s dues organized
A clean chart of accounts is easier to keep when charges and payments are tracked in one place. When you’re ready, create your HOA in BoostHOA and set up your properties and dues.