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.
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.