How do I use Quicken to manage HOA fees?

PMHOA Treasurer

Is there an obvious best way to handle setting up and entering HOA fees per unit in Quicken? It appears that I can set up individual invoices or I can set up each unit as a rental unit with the fees as the rent. Does either way make it easier to manage?

Frankx

Hi again @PMHOA Treasurer

You can enter the payment received in the "Business" Tab.  Just click on the down arrow on the "Create Invoice" button and click on "Receive a customer payment..." - see Snip below:


Let me know if you have any other followups.

Frankx

Frankx

Hi @PMHOA Treasurer

I would suggest that you use the "Business" feature of Quicken Home, Business, and Rental Property, because you really don't need all the bells & whistles that are used for rental properties in the RP module.  The HOA is more akin to tracking "club memberships" and the Q reporting function should be more than adequate for reporting to the HOA membership on the status of the organization.

Let me know if you have any followups.

Frankx

PMHOA Treasurer

Thanks for the feedback. I've set up invoices in the Business section but I can't see how to show them as paid and get the money into the basic account. I see that in the Rental property set up if I show the rent as paid the money shows as an addition in the basic account. Is there a place I'm missing to show an invoice paid?

Frankx

Hi again @PMHOA Treasurer

You can enter the payment received in the "Business" Tab.  Just click on the down arrow on the "Create Invoice" button and click on "Receive a customer payment..." - see Snip below:


Let me know if you have any other followups.

Frankx