Let me assist in managing prepayments and apply these to future invoices in QuickBooks Online (QBO), Angela.

To handle this situation, let's record a retainer or deposit and ensure the HOA account is under a liability account.

To begin with, let's create a liability account. Retainers must be recorded in this account because they represent money your business has received but not yet earned:

1. Go to Settings and select Chart of Accounts.
2. Click on New.
3. From the Account Type dropdown, choose Other Current Liabilities.
4. From the Detail Type dropdown, choose Trust Accounts - Liabilities.
5. Enter a name for the account (Retainers).
6. Click Save and Close.

Second, let's create a retainer item. It's used to track prepayments and allows you to apply it to future invoices:

1. Go to Settings and select Products and Services.
2. Click on New and select Service.
3. Enter a name for the item (Retainer).
4. From the Income Account dropdown, select the liability account you created.
5. Click Save and Close.

Third, let's create an invoice for deposits or retainers:

1. Go to the + New button and select Invoice.
2. Choose the Customer (tenant).
3. Select the retainer item you created.
4. Enter the amount received for the retainer or deposit.
5. Once done, select Save and Close.

Lastly, when you invoice the tenant for future rentals, you can apply the HOA credits for both incomes and expenses:

1. Go to + New and select Receive Payment.
2. Select the tenant and the invoice.
3. Apply the retainer amount to the invoice.
4. Once done, click Save and Close.

For more detailed information about retainers, please refer to this article: Record a retainer or deposit.

For future reference, you can utilize this article to generate reports and give you different aspects of your business: Run reports in QBO.

Feel free to ask more if you have any more questions or need further assistance handling prepayments for future invoicing. Have a good one.