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Invoice Issue

Forum|Forum|4 years ago
August 5, 2021
2 replies
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I am a treasurer for one HOA and have just become treasurer or another HOA. The second one is small with only 27 members, but it was run using Excel, a checkbook, and dropbox for some record keeping. In my other HOA, In my other HOA, I prepare 87 annual dues invoices giving them a future due date. A lot of members prepay and the payments are recorded correctly. On the new HOA the invoicing is not working correctly and driving me nuts.

I create a dues payment without problems. I use the receive payments icon and the dues invoice appears and I apply the payment. So far OK. Then I reconcile for the month and find not only the payment in the deposits section BUT the invoice listed as an expense!

I have tried everything I can think of.

QuickBooks Desktop

Best answer by Catherine_B

Hello there, cthomas38.

I can help you troubleshoot the unusual display of transactions when reconciling an account within your company file.

If you used the Billable Expense feature which are expenses that are incurred by you on behalf of your customers, the expense transaction such as bills or checks will show up as an expense on your books and when you reconcile. It will show as income when invoiced, as you see in the Deposits and Other Credits section on your reconciliation window.

However, if you're not using the billable expense process, the unexpected behavior may have been caused by data issues within a company file. You can run a well-data checkup to make sure your company file is error-free. Let me show you how:

Close all windows running in your company file. Window menu > Close All.
From the File menu, choose Utilities.
Select Verify Data. If you see:
- "QuickBooks detected no problems with your data," no further action is needed.
- A specific error message, there may already be an article for it.
- "Your data has lost integrity," indicates there is data damage in the file.

You can continue to the steps to Rebuild Data to correct the problem.

Here's a link that provides more information on how to record common customer transactions and in reconciling an account in QuickBooks Desktop:

Keep me posted on how this works. Any additional information such as a screenshot of your reconciliation window is much appreciated. Have a great day!

C

Catherine_BAnswer

Level 9

Hello there, cthomas38.

I can help you troubleshoot the unusual display of transactions when reconciling an account within your company file.

If you used the Billable Expense feature which are expenses that are incurred by you on behalf of your customers, the expense transaction such as bills or checks will show up as an expense on your books and when you reconcile. It will show as income when invoiced, as you see in the Deposits and Other Credits section on your reconciliation window.

However, if you're not using the billable expense process, the unexpected behavior may have been caused by data issues within a company file. You can run a well-data checkup to make sure your company file is error-free. Let me show you how:

Close all windows running in your company file. Window menu > Close All.
From the File menu, choose Utilities.
Select Verify Data. If you see:
- "QuickBooks detected no problems with your data," no further action is needed.
- A specific error message, there may already be an article for it.
- "Your data has lost integrity," indicates there is data damage in the file.

You can continue to the steps to Rebuild Data to correct the problem.

Here's a link that provides more information on how to record common customer transactions and in reconciling an account in QuickBooks Desktop:

Keep me posted on how this works. Any additional information such as a screenshot of your reconciliation window is much appreciated. Have a great day!

C

cthomas38Author

The issue was actually a design issue. For this one, I picked the Homeowners/Condo preset. After a week's frustration and starting over with new companies, twice, I decided to try one of the "Income/Expense" presets. The problem went away. Someone needs to take a close look at real-world HOA/Condo accounting.

I still have a nasty little problem. This preset won't allow me to enter the bank service fee in the normal reconciliation. I have been using journal entries for the 5.95 monthly fees, but I have a small mess.

Any help would be appreciated before I start to build the 2021 monthly data.

S

ShiellaGraceA

Level 9

Thanks for getting back to us here, @cthomas38.

I have some information about recording the bank service fee. You'll want to create an expense account for your bank service fee. This way, you can use this account to record the fee when you reconcile.

To create an account:

Go to Lists.
Choose Chart of Accounts.
Scroll down towards the Account drop-down and then select New.
Tick the Expense radio button. Follow the steps that'll guide you through the rest.

After that, go to Banking and then Reconcile. Enter the fee in the Finance Charge or Service Charge section and make sure to select the expense account you allocate for the service fee. See the image below.