Help! I'm a new inexperienced treasurer for a small HOA--based on these facts, what's my best path?

sherry.berry

The relevant facts:
1) Outgoing HOA treasurer has been using Quicken Home & Business on a Windows PC (versions? OS? I can ask more)
2) I have a 2015 27" iMac running OS 10.15.7 that I LOVE to use-will upgrade when necessary
3) I have a 2020 HP Windows 10 PC laptop my employer purchased for me that I tolerate
4) I've been using [edited; a direct competitors' product] for personal finances but long ago used Quicken--considering switching back
5) In addition to my fairly new job as a 4-restaurant bookkeeper (yes, this right-brainer jumped in the deep end with bookkeeping and [removed - solicitation]!), I have a freelance design business that needs simple accounting software.

Since there is no H&B for Mac, an I assume I should go QH&B for my laptop? Can I use it for my personal finances, design business and HOA? Would one copy suffice? 3 setups? Note-I do not own the Quickbooks (though I could buy)--I use remote access to owners PC.

Thanks in advance for your guidance!

NotACPA

I think that you're definitely going to need H&B. For an HOA  that's relatively small (my current HOA is almost 200 units, the immediate prior HOA was only 4 units, but my 1st HOA was 170 or so units), I think that Quickbooks would be overkill. 

ALSO, while you can convert the data from Q to QB, you can't go the other way.  So it would be a disservice to your, eventual, successor to stick them with QB and no way to get back to Q.

My only reluctance to suggest H&B on your laptop is that someday your employer might recall the device (say, when your quit or retire, etc).  IF you go this way, make Lots of BACKUPS, just in case.

You'll need a separate Q data file for each "tax entity".  So you and the HOA will definitely be separate files. The design business MIGHT be included in your
Q data file IF you report it's income & expenses on Sched C of your IRS 1040.

Since you going remote into the restaurant owner's PC, their data files should all be stored there and really don't figure into the equation of your needs.

MontanaKarl

I'm hope you'll get many responses, as each of us will have our slant on things :-)

First, if you WANT to run Quicken (Windows) Home and Business on your iMac - you can do so by purchasing Parallels Desktop (or VMware Fusion - or other virtualization software) which will allow you to run Windows 10 (requires buying an OEM license - or transferring one from an existing PC)...in a Window (or fullscreen) alongside your other Mac software.  I and many others have run Quicken WIndows - and QuickBooks Windows and other software - on our Macs for years  this way without any issues.

Personally, the last time I evaluated Home and Business, I did not find that it handled accounts payable, receivable, invoicing etc as cleanly as QuickBooks and I went back to using Quicken for personal finances and QuickBooks for our various businesses.

I highly recommend Quicken for Mac if you want to do your personal finances on the Mac without the extra steps of running Parallels and Windows  there.  (I don't think you should use your employers laptop for personal stuff?)

I also highly recommend QuickBooks for Mac (an Intuit product - Intuit and Quicken have been separate companies for a few years now) for your design business as it handles customer:jobs, time tracking, invoicing/statements, vendors/bills/payables, reporting and more beautifully in a very Mac-centric way.  The features that are weaker than the Windows version are not ones that you would use in a service business that does not have employees or complex inventories.

For the HOA - if you were going to do it forever, I'd say use QB Mac also...although the HOA or someone would have to buy it.  But, for simplicity since the HOA is already up and running with Quicken Home & Business ... and WIndows computers are still more popular than Macs, so the person likely to take over after you is likely to have a Windows computer (?) - I think you should just stay with Quicken WIndows Home & Business.  That would require you to buy Parallels Desktop (or equivalent) and a Windows 10 license so that you could run it on your Mac - or your employer's permission to run it on their laptop.

Of course, if the current HOA treasurer's books are garbage and not worth continuing in the manner in which they've organized them, then starting fresh in QB Mac might not be the worst thing?  It would be really hard to ever move the data back to Quicken though...

Rocket J Squirrel

MontanaKarl said:

I'm hope you'll get many responses, as each of us will have our slant on things :-)

OK, here's a very different one.

I was the treasurer of my tiny 11-home HOA for years and got by just fine using my personal copy of Quicken Premier for Windows. I never needed any of the H&B features. My duties were essentially collecting monthly dues (paper check deposits) and paying expenses (handwritten paper checks). If I needed an invoice (which was essentially never) or other document, I just printed one in Word. QWin Premier had sufficient reporting capability that satisfied the HOA members.

I would opine that the level of features and complexity needed is proportional to the size of the HOA, and that whether it's worthwhile to migrate away from QWin H&B depends on how long you expect to be treasurer.

NotACPA

• How many units are in your HOA? 
• Does the association have a management company,  or do the officers do everything?
• How do you (if no Mgmt company) receive the monthly dues?  Paper checks, direct deposit to the association's bank account, or what?
• Do you physically write checks (on the association's account) for payments?
• To what extent, if any,  do you need to share the info with other officers, or the association? 
• Does any other officer need  to  periodically review the  bank account vs the account in Q?

BTW, besides being a former  bank audit VP, I'm also the former treasurer of several organizations and 3 former positions as an HOA treasurer.

sherry.berry

I'm not a frequent 'forum' gal so please pardon if I'm replying in the wrong way.

> @MontanaKarl said:
> I'm hope you'll get many responses, as each of us will have our slant on things :-)

Thanks so much--reading them all now--probably glean a bit from each. My employer is super casual about the laptop. But thanks for the reminder about Parallels. In the end cost will be a big factor.

> @"Rocket J Squirrel" said:
> OK, here's a very different one.
> I would opine that the level of features and complexity needed is proportional to the size of the HOA, and that whether it's worthwhile to migrate away from QWin H&B depends on how long you expect to be treasurer.

We do only have 16 homes in our subdivision but I believe they'll be expecting to see a P&L at the least. Assuming n/a in Q? I'll discuss with the outgoing. Using Quicken for Mac w/o H&B would certainly be the simplest.

sherry.berry

> @NotACPA said:
> * How many units are in your HOA?
> * Does the association have a management company,  or do the officers do everything?
> * How do you (if no Mgmt company) receive the monthly dues?  Paper checks, direct deposit to the association's bank account, or what?
> * Do you physically write checks (on the association's account) for payments?
> * To what extent, if any,  do you need to share the info with other officers, or the association? 
> * Does any other officer need  to  periodically review the  bank account vs the account in Q?
>
> BTW, besides being a former  bank audit VP, I'm also the former treasurer of several organizations and 3 former positions as an HOA treasurer.

1) 16
2) reluctant officers only--the basics
3) dues only sent monthly by a few, most send checks for full amount in 2 payments.
4) assuming I'll write checks
5) share whenever there's a meeting (half doz/yr?)but the budget numbers at one annual meeting. Unless, as recently, there's an emergency need to gather extra money. I have been looking into "HOA" software but it appears the inexpensive ones are only a portal form members to review published info. Was looking for one that would handle the accounting as well.
6) I don't think anyone else reviews
7) You certainly have the credentials to help me!

NotACPA

I think that you're definitely going to need H&B. For an HOA  that's relatively small (my current HOA is almost 200 units, the immediate prior HOA was only 4 units, but my 1st HOA was 170 or so units), I think that Quickbooks would be overkill. 

ALSO, while you can convert the data from Q to QB, you can't go the other way.  So it would be a disservice to your, eventual, successor to stick them with QB and no way to get back to Q.

My only reluctance to suggest H&B on your laptop is that someday your employer might recall the device (say, when your quit or retire, etc).  IF you go this way, make Lots of BACKUPS, just in case.

You'll need a separate Q data file for each "tax entity".  So you and the HOA will definitely be separate files. The design business MIGHT be included in your
Q data file IF you report it's income & expenses on Sched C of your IRS 1040.

Since you going remote into the restaurant owner's PC, their data files should all be stored there and really don't figure into the equation of your needs.

MontanaKarl

[removed - prior post has been restored]

Quicken Hugh

[removed]

NotACPA

[removed - original post has been restored]

jnprop

Well now I want to know the name of the product "darnit"! Oh wait, I think I just figured it out! I think it involves books....lol.... Ive had so many problems with Quicken lately that I am prone to look elsewhere even though I consider myself very loyal to Quicken... 15 years.... I run a small rental property company(8 units) and I have had more issues with Quicken in the last few months that I ever had. Some of which are documented here.

MontanaKarl

MontanaKarl said:

[removed - prior post has been restored]

No, my prior post has NOT been restored.  I appreciate the number of superusers who supported my protest of Quicken Hugh's censorship.  Do I dare edit my original post to actually restore it to what it said - including the deleted comment about Quicken spinning off from that other company?

Frankly, deleting the discussion of censorship was in itself censorship.  I'm not particularly happy with this entire state of affairs.

Quicken Sarah

Hello @MontanaKarl

Thank you for providing your feedback and I apologize that your original post was not also restored.  I've corrected that oversight and it has been fully restored in its entirety.

The remaining comments on this thread were removed because they are off-topic to the original posters question/concern and derails the thread from being constructive and helpful to argumentative and unhelpful.

If you haven't already, I invite you to review the Quicken Community Guidelines and our Moderation policies, available here  for more information and insight on why some posts may be edited or removed in accordance with our policies.

Thank you,

Sarah