We have an HOA of about 550 homeowners. We will have two assessments this year. I need to be able to send a separate statement for dues and assessment. Although dues are billed monthly, some homeowners prepay annual dues in January. If I bill their assessment it will skew their balance and kick them over into the past due list. Also they can choose to pay their assessments over three months or pay when they are billed. We would prefer to keep the dues and the assessments separate due to the difference in billing and aging. Is there a way to accomplish this without going in to all 550 accounts and make changes??
Currently, there isn't an option to send separate statements for regular dues and HOA fees in QuickBooks Desktop (QBDT). You'll have to create a billing statement that summarizes your HOA account, listing recent invoices, credit memos, and payments received. This will serve as a reminder to them on how much they owe the association.
Go to the Customers menu.
Select Create Statements.
Choose the appropriate A/R account (ONLY when your Chart of Accounts contains more than one A/R).
Check the statement date.
Select the date period of the transactions.
Choose the customers you want to print statements for.
Select additional options.
Click Print or E-mail depending on how you want to send the statements to your customers.
I've attached a screenshot below that shows the last five steps.
Additionally, you can also pull up the Transactions List by Customer report. This is to effectively monitor all the HOA's transactions and manage them accordingly. Just go to the Reports menu and select the Customers & Receivables option. Then, you can customize the report to focus on the details that matter to you the most.
Please let me know if you have follow-up concerns about creating statements in QBDT. I'm just around to help. Take care always.