Is there software to buy or install?
No. Nothing to buy, install or maintain. The system is housed on the Internet and is known as SAAS (Software as a Service like Google, Yahoo, etc.). No technology experts are needed for you to use this system. All you need is a personal computer, a WEB browser, a medium strength laser printer and a high speed internet connection (it will work with a regular phone line, but not quite as fast).

How long has Haney Accountants, Inc. been providing service using HOAiFi?
For more than twenty five years, Haney Accountants, Inc. has been providing financial services to homeowners associations. It has been working with the internet based HOAiFi for four years. We have over 7,000 homeowners and more than 50 HOAs currently using the system.

How accurate is HOAiFi?
All the system calculation processes work correctly. However, accuracy depends upon recording the transactions correctly. Over the years Haney Accountants, Inc. has developed industrial strength internal controls and accounting processes that, in the end, produce highly precise financial reports, pay vendors timely and accurately, collect assessments and handle all the related financial support issues.

How secure is my information?
There are two basic security issues - access control and physical protection. Access requires a three part password. The passwords are subject to quality checks. The system administrator manages user access rights and the access mechanism does not rely on cookies. The physical protection is the best available for your information (data). All the equipment and data storage are housed in an extremely secure world class IBM e-business hosting center that features 24/7 security personnel, biometric sensors (finger prints, hand scans, eye scans, etc.), a private vault in the secure facility, and a business rule that data never leaves the vault unless encrypted. There are a variety of other "confidentiality, integrity and availability" measures in place that we will describe in detail to those who are interested.

What if the Internet goes down?
There is always the possibility that the internet goes down. However, in the three years that we have been working with the system, the internet has never gone down. Therefore, our clients have had 24/7 secure access to their financial data except on Friday nights when system enhancements are deployed. Moreover, in the absolutely extremely unlikely case that the Internet is down for some significant period of time, all the data is stored in a secure IBM data storage facility that has sufficient independent power and support facilities to operate for four months. Our experience suggests that most clients' backup and restore disciplines on their local networks as well as typical down times will not come close to the IBM data center standard.

How much does it cost?
The monthly service fee depends upon the services selected and the related volume of transactions. You will find that the fees will be competitive when compared to all other in-house and outsourced solutions after considering all cost and revenue elements including the substantial benefit of moving toward the paperless office environment.

Who can use the system?
There are two basic classes of users - the view/print user and the e-ledger user. View/Print users can look at and print all reports and documents, but can not make any entries. E-ledger users can post journal entries and/or record and pay vendor invoices depending on the permissions granted by the system administrator. There is no cost for up to five view/print users. However, there is a monthly fee for each e-ledger user that will not exceed $50 per user per month. However, the vast majority of our clients need only view/print access rights.

How difficult is it to get my information in the system?
Haney Accountants staff will handle all set up, training and conversion activities for no set up fee.

Can I use my own bank for deposits?
You are free to use your own bank for deposits and disbursements. However, if you have no preference, we would prefer you use our primary bank for the operating account due to certain technology links that we have with that bank.

Who signs the checks?
One of the system's major features is that it allows the client to decide how the payables process will work. Authorized and approved bills can be paid 24/7 from any location. Most clients ask us to handle the basic payable functions and either grant us the authority to sign director/manager approved operating account disbursements (we have a million dollar bond) or to imprint approved disbursements with the director(s) signatures. However, clients or their managers can and do learn how to handle the entire payable process without our involvement. They decide how the process works best for them. The important point is that the payable system has a substantial number of control points and no bill is paid that has not been authorized and approved by the association's board of directors.

How long is the contract for service?
The basic agreement requires a 60 day termination notice.

How can I be sure that that the rates won't get out of my expected cost range?
We believe our service is best in class and our fees competitive. Moreover, our rates have been fairly stable over the 25 years that we have been in business. In the unlikely case that a better product/service/fee option presents itself, then we will gracefully help our client transfer to their new provider. We could also negotiate fees for up to a three year period.

Who makes sure the system meets my expectations?
For any Business Process Outsourcing (BPO) solution to work effectively, both parties have to develop clear mutual performance expectations and both parties have to work together to meet those agreed upon expectations. Haney Accountants, Inc. and HOAiFi have a clear detailed basic service agreement that describes each party's performance obligations and that can be modified to fit individual situations. During the operations phase, the parties must work together to fine tune the process and achieve the desired outcomes.

Can I assign work orders with this system?
The system has a complete purchase order process that handles purchase transactions from beginning to end.

Is there a mailing list system included?
There are a variety of methods available to contact and monitor unit owners including mailing lists by name, lot numbers, account numbers, etc.

What other services are available?
Haney Accountants, Inc. professional staff and its president, Donald W. Haney, CPA, MBA, MS (Tax), have been delivering a number of high level financial and consulting services to Homeowner Associations for over 25 years. Such services include accounting systems design, income tax planning and preparation, cash planning, litigation support, and Board of Directors training. Mr. Haney has earned a "Train the Trainer" certificate sponsored by the American Society for Training and Development.