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T
TBTreas
November 24, 2018
Solved

HOA Set up

  • November 24, 2018
  • 2 replies
  • 3 views

I'm Treasurer for an HOA and just purchased QB Desktop.  I want to have the properties stay static, and the owners be customers.  So, I was thinking about this structure:

 

Owners - Customers

Billable rates - items

Properties - ?

 

I don't know what to do with the properties.  I thought about setting them up as jobs, but I'm not sure that will work.  I also thought about setting them up as items with the billable rate defined for each.  We are in a lake community, and some lots have a water connection and some don't.  We have a few different rates charged depending on the lot characteristics.  

 

Need advice on how to set up properly in QB.  I want to maintain the properties universally, as they won't change, and see the owners "assigned" to each property change over time.  I want to be able to pull each separately - the owner and the property to see the history.  Sometimes owners sell and buy different properties.  

 

Thanks in advance.

Best answer by qbteachmt

Customer Name = use this for Property.

Add Job = the Owner.

Add Job = the Next owner.

Each of these has their Start Date = they Own it. There is End date = they Sold it. And now you have different Customer:Job names, which means you can be tracking what one person owes, or one person prepaid and is owed back.

 

When the house sells, you do not Change anything. That is New Job, under Customer (which is that Property).

2 replies

BettyJaneB
BettyJaneB
Level 9
November 24, 2018

Hi there, @TBTreas.

Thanks for joining the Community today. I'm here to share some information regarding setting up your properties in QuickBooks Desktop.

 

To help decide how to correctly set up your properties in QuickBooks Desktop, I'd suggest reaching out to your accountant. This is to make sure that your bookkeeping is accurate. Once you've confirmed the appropriate setup, I can walk you through entering jobs and items in QuickBooks.

To create a Job:

  1. Click on Customers at the top, then select on Customer Center.
  2. Select the name of the customer for whom you want to make a job from the Customers & Jobs list.
  3. Click the New Customer & Job button in the upper-left corner.
  4. Then choose the Add Job command from the drop-down to open the New Job window.
  5. Enter a name for the job into the Job Name field.
  6. Enter a description for the job into the Job Description field and the type of job into the Job Type box.
  7. Then select the status of the job from the Job Status drop-down.
  8. When the job starts, enter the start date into the Start Date field and enter the best estimate as to when the job will finish into the Projected End Date box.
  9. When the project finally finishes, enter its actual end date into the End Date field.
  10. Click the OK button to add the job to the Customers & Jobs list.

To add an Item:

  1. Click on List at the top Menu bar.
  2. Select on Item List.
  3. Click the Item and select New.
  4. Select the type of item you want to create.
  5. Fill in the fields.
  6. Click on OK to save changes.

For more information about performing this process, please refer to the following article: 

This should guide you on the right path, @TBTreas. Feel free to reach back out to me if you have further questions. Have a great day!

    qbteachmt
    qbteachmt
    Level 11
    November 25, 2018

    It's the other way around:

    Customer:Job = Property and Owner

    Now you have Current owner, previous owner, Job Start, End and Projected End Dates. That's how Property stays Static = upper level name.

      T
      TBTreasAuthor
      December 30, 2018

      So the property is the job with essentially no end date.  when a house sells, I change the job customer?  

       

      Thx.

      qbteachmt
      qbteachmtAnswer
      Level 11
      December 31, 2018

      Customer Name = use this for Property.

      Add Job = the Owner.

      Add Job = the Next owner.

      Each of these has their Start Date = they Own it. There is End date = they Sold it. And now you have different Customer:Job names, which means you can be tracking what one person owes, or one person prepaid and is owed back.

       

      When the house sells, you do not Change anything. That is New Job, under Customer (which is that Property).

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