🚀 go-pugleaf

I agree with everyone on QB over Quicken in this case, though I did 
not see anyone mention memorized transactions. They let you make
an invoice for each owner once and memorize it. You can then record 
all 60+ invoices for each later month with a few clicks. If Quicken cannot 
do this then you also need to use QB for this reason.


On Sat, 10 Feb 2001 05:22:01 -0800, "Richard F. Thomas"
<rfthomas@pacbell.net> wrote:

>Allan & Michael,
>
>Thanks for your constructive responses.
>
>Allan, I agree with you about the the Cash vs. Accrual method. However, for
>some reason, the Association's CPA has us on a cash basis. Your point about
>the homeowners wanting to see Dues Receivable is the very reason that I want
>to establish the A/R as indicated. Even if it's only a memo entry in the
>financial statements. Based on Michael's response, it sounds like I can
>accomplish both, i.e., record on an accrual basis but report on a cash
>basis. I we in fact decide to bring this function in-house, I'll try to do
>that.
>
>Again thanks your responses.
>
>Richard
>
>"Richard F. Thomas" <rfthomas@pacbell.net> wrote in message
>news:WL4h6.78$Sf1.239446@news.pacbell.net...
>> I am a volunteer treasurer for our small homeowner's association (62
>units).
>> My duties consist of collecting and depositing all monthly assessments
>from
>> the homeowners and paying all bills. In addition, we currently use an
>> outside bookkeeping service which requires me to compile the above
>> information each month and send it to them for entry into a bookkeeping
>> system. It appears that they use Quicken Standard. We are considering
>> bringing this in-house. In addition to saving money, I really don't think
>> that it would take much extra time, on my part, since I could handle
>> everything simultaneously.
>>
>> My questions relate to whether to use Quicken Home & Business or
>QuickBooks
>> Standards. We do not have any employees and therefore do not need a
>payroll
>> capability.
>>
>> Even though we are on the cash accounting method, NOT the accrual method,
>I
>> want to set up A/R for each homeowner to track assessment payments,
>> delinquencies, late payments etc.
>>
>> 1.    Which product is better for doing this.?
>>
>> 2.    How do I set up A/R on a cash accounting method, since the Income
>> isn't recognized until actually received, i.e., what account (category)
>> would I use so that the Income and Expense statement only reflects income
>> actually received?
>>
>> 3.    What would the specific entries be to:
>>
>>         A.    Record the amount due on the 1st of each month?
>>
>>         B.    Record the amount actually received and report as income at
>> this time?
>>
>> 4.    We also have payables and sometimes we pay amounts over time.
>Similar
>> to the above, I would like to track "unpaid balances" but not record those
>> balances as expense until actually paid.
>>
>> What's the best Quicken product to use to accomplish the above. I don't
>want
>> to be too limited in capabilities but at the same time, I don't want to
>> "overkill" by buying more capability than necessary.
>>
>> Thanks in advance,
>> Richard
>>
>>
>>
>

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