How do I use Quicken to manage HOA fees?

PMHOA Treasurer
PMHOA Treasurer Member ✭
edited April 2022 in Business and Rental Property Tools (Windows)
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?

Best Answer

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    Answer ✓
    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

                            Quicken Home, Business & Rental Property - Windows 10-Home Version

                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

Answers

  • Frankx
    Frankx SuperUser ✭✭✭✭✭
    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

                            Quicken Home, Business & Rental Property - Windows 10-Home Version

                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

  • PMHOA Treasurer
    PMHOA Treasurer Member ✭
    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
    Frankx SuperUser ✭✭✭✭✭
    Answer ✓
    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

                            Quicken Home, Business & Rental Property - Windows 10-Home Version

                                             - - - - Quicken User since 1984 - - - 
      -  If you find this reply helpful, please click "Helpful" (below), so others will know! Thank you.  -

This discussion has been closed.

Categories