Hello, our community is made up of 14 lots.  We are forming a small HOA and I will be the treasurer.  I am a bit rusty on my QB skills and have never set up a company file for an HOA before.  We are very basic and have no need to pay someone to do our accounting.  We collect annual dues to pay a few recurring bills, liability insurance, maintain the road & gated entrance and to create a reserve for future improvements.  We have no amenities or common areas. 

Here are some questions:

1.  QBs automatically created many accounts in the COH that are most likely not needed.  Can someone provide me with the core accounts I should have set up?

2.  I need advice for capturing the 2021 annual dues already collected for the year.  Are the annual dues treated like sales (income)?  Do I create a special income account call Annual HOA Dues?  I set the company up using the accrual method.  I created a customer for each lot and added a job for the current owner(s) with the start date of when they acquired their deed.  So if I create an invoice, can you advise me on what to select in the invoice (Item type, item name/number, account)?  I know I can then enter the Receive Payments to capture the date and how much paid for the year.

3.  What is the best way to account for our reserves?

4.  What account would road slurring/maintenance costs fall under?  Repairs and Maintenance?

Thank you for any advice and assistance!