ResLife Finances is web-based accounting software for community associations, combining general ledger, journals, accounts payable, bank reconciliation, fund accounting, and financial statements in one set of books. It can calculate assessments from budgets, collect them online, and apply late fees and interest according to governing documents. Vendor invoices can be captured with AI, linked to work orders or contracts, checked against spending limits, and held for approval. Operating and reserve funds have separate accounts and balances, with transfers linked to the related expenditure. Bank activity can be imported through Plaid, lockbox remittance files, or CSV, OFX, and CAMT formats; ResLife says around 95% of bank lines can be matched automatically. Stripe Connect can support recurring dues and one-time invoices. The free operations layer can run beside existing bookkeeping without migrating the books. The free plan is $0.00 USD per free period, billed monthly forever, though online collection fees apply. Paid plans start at $1.00 USD per month per unit. The free tier adds $0.50 plus 0.25% per collected payment on top of Stripe rates, and support is $125 per hour on every plan.
Who it is for
ResLife Finances suits community associations seeking accounting, assessment collection, payables, and bank reconciliation. Its operations tools can also run alongside an existing bookkeeping system without moving the books.
What is good
- Combines accounting functions in one set of books.
- Supports separate operating and reserve balances.
- Imports Plaid, CSV, OFX, and CAMT data.
- Free operations tools can run alongside existing books.
What to know first
- Online collection fees apply to the free plan.
- Free tier adds $0.50 plus 0.25% per payment.
- Support costs $125 per hour on every plan.
- Availability is listed for California.
Verdict
ResLife Finances combines association accounting with online assessments, invoice handling, and reconciliation tools. Consider collection fees and hourly support costs when comparing plans.
Get started with ResLife Finances
- Visit the ResLife Finances website.
- Use the web-based service.
- Choose the Free plan or review the paid Starter, Business and Enterprise plans.
- Connect online collections through Stripe Connect if needed.
- Use the free operations tools alongside existing bookkeeping, if applicable.
What the free plan stops at
The Free plan is billed per month forever and adds $0.50 plus 0.25% per collected payment on top of Stripe rates. Support costs $125 per hour on every plan.
Questions about ResLife Finances
What does the Free plan cost?
It costs 0.00 USD per free, billed per month forever. Online collection fees apply.
How much do paid plans start at?
Paid plans start at 1.00 USD per month, billed per unit per month. Business and Enterprise list additional billing terms.
Which platforms does ResLife Finances support?
It is available on the web.
Can it collect assessments and dues online?
Yes. Stripe Connect can turn calculated assessments into recurring dues and one-time invoices for online collection.
Which bank connections and imports does it support?
Bank statement imports run through Plaid, and CSV, OFX and CAMT imports are supported. Lockbox remittance files can be applied to units; custom bank connections are available on request and approval.
What does support cost?
Every plan includes support at $125 per hour.
ResLife Finances plans and pricing
All plansCompared on HOA accounting software
- Free plan
- Yes
- Paid from
- $1/mo
- Assessment billing
- Yes
- Owner ledgers
- Yes
- Vendor payments
- Yes
- Financial statements
- Yes
- Bank reconciliation
- Yes
- Budget tracking
- Yes
