Setting up for Customer, Rents
I am very new to QB.
I'm using it to manage the finances of a small Condo Association. I have done the "Interview" and set up my "Chart of Accounts" but I'm stuck at the point where I set up Owners/jobs so I can track Association fee payments/receipts. I don't need to make invoices; per se, though I suspect I may need to create them to track payments.
It is my understanding that it is necessary to create "Jobs" for each owner in order to accomplish my goal of tracking their payments. But I don't need to send them receipts.
I'm using it to manage the finances of a small Condo Association. I have done the "Interview" and set up my "Chart of Accounts" but I'm stuck at the point where I set up Owners/jobs so I can track Association fee payments/receipts. I don't need to make invoices; per se, though I suspect I may need to create them to track payments.
It is my understanding that it is necessary to create "Jobs" for each owner in order to accomplish my goal of tracking their payments. But I don't need to send them receipts.
ASKER
tilt!
Sorry, I'm still at creating a Customer;job, and I'm so new at this that the rest your you answer isn't getting through. I see the 4 Edit Customer tabs and I've entered the Payment info.
Where do I set up the amount due information?
The customer/owner pays $x dollars a month. Part goes to Association fees and part goes to Special Assessment. There is also a late fee after a certain date.
Do I set up a job for each of these amounts? Of course I haven't figured out how to set up a single payment yet; without dividing it up.
I don't send invoices, but I gather I have to create one non the less; is that correct?
I'm going to need step by step instructions. i.e. what menu headings to select from etc.
Sorry, I'm still at creating a Customer;job, and I'm so new at this that the rest your you answer isn't getting through. I see the 4 Edit Customer tabs and I've entered the Payment info.
Where do I set up the amount due information?
The customer/owner pays $x dollars a month. Part goes to Association fees and part goes to Special Assessment. There is also a late fee after a certain date.
Do I set up a job for each of these amounts? Of course I haven't figured out how to set up a single payment yet; without dividing it up.
I don't send invoices, but I gather I have to create one non the less; is that correct?
I'm going to need step by step instructions. i.e. what menu headings to select from etc.
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ASKER
It was a good answer, considering the question asked for more than was in the scope of EE. It helped me find keywords to search and learn from,
Thank you and good luck. If you wish to ask a specific question, please do and someone here will try to assist. ... Thinkpads_User
Once you have set up the Owners, you can either:
1. Issue invoices for fees and then receive payments against the invoices. The value of this is that you can do an aged Receivables and see who is tardy. The downside is the effort required to invoice (although you can easily use memorized invoices).
2. Simply deposit payments using the Deposit process. Deposit to Undeposited funds (a built-in QB account) and then make the Bank Deposit equal the total of several payments in Undeposited Funds (Easier to reconcile your bank). Upside: Simple to implement and use and you can still track. Downside: No way to track tardy payments (Aged Receivables).
... Thinkpads_User