CommunityPay vs ResLife Finances

CommunityPay provides payment and accounting infrastructure for community associations, with tools to record transactions and decisions. Its accounting features include double-entry bookkeeping, fund tracking, period locks, financial statements, and board-ready reports. Residents can pay online by ACH or card; vendor payments use Stripe Connect, support batch processing, and create journal entries automatically. Payment controls route journal entries through an enforcement dispatcher that evaluates guards and records decisions. The API can request resale certificates generated from live ledger data and deliver them through HMAC-signed callbacks. Its Legal Corpus API covers statutes, thresholds, and compliance profiles across 50 states plus D.C. QuickBooks and Xero sync are listed as included features. A token-gated CPA portal offers read-only access to scope-restricted sections and logs events. CommunityPay charges $1 per unit per month, with a $100 community minimum and $500 cap; processing fees pass through at cost. The public API is free, while Professional API costs $99 per month.

ResLife Finances is web-based accounting software for community associations. It combines a general ledger, journals, accounts payable, bank reconciliation, fund accounting, and financial statements in one set of books. Assessments can be calculated from budgets, collected online, and adjusted with late fees or interest under governing documents. AI can capture vendor invoices, connect them to work orders or contracts, check spending limits, and hold them for approval. Operating and reserve funds retain separate accounts and balances, with transfers tied to the related expenditure. Plaid feeds, lockbox files, and CSV, OFX, or CAMT imports support bank activity; ResLife says about 95% of bank lines can be matched automatically. Stripe Connect handles recurring dues and one-time invoices. A free operations layer can sit alongside existing bookkeeping without migrating books. The Free plan is free, billed monthly forever, with online collection fees. Paid plans start at $1 a month per unit; Enterprise is priced on request. Support costs $125 per hour on every plan.