Quickbooks for Condo Association


B

Bob Alston

Looking for advice on how to handle two situations with managing the books
for our Condo association.

1) We bill quarterly and include a fee that covers operating expenses and
another fee to provide a capital improvements/capital repair account. How
best to account for the "fund" of available capital monies?

2) We bill some expenses for all owners and some are billed specifically by
building - we have three building. Easy enough to create a set of accounts
for general expenses and 3 additional sets for specific buildings. We bill
the general expenses on a budget basis - fixed amount per quarter. However,
the specific building expenses are not budgeted and are billed as incurred.
How do I arrange the recording of revenue to the proper accounts? I want to
be able to easily tell that for each building, the amounts incurred in costs
have been billed out?

Thanks very much.
 
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