Accounting with Intuit QuickBooks Online

Daniel Westendorf Updated by Daniel Westendorf

Most other software in the HOA Management space is bespoke accounting software with HOA operations tools built on top. This means they do accounting in their own unique ways and often provide HOA operations tools as an after thought. HOALife has taken the oppoisite approach. HOA operations tools are first-class citizens without reinventing the accounting wheel; you can use whatever accounting system you or your accountant already know while focusing on your HOA operations.

QuickBooks Online is a great option for HOA accounting. Our favorite reasons for picking QuickBooks Online are:

  • Web based - access it anywhere from any web-connected device
  • Wide spread adoption - you may already be familiar with QuickBooks; most accountants in the phone book will have extensive QuickBooks knowledge as well
  • A vibrant App Store to augment your accounting experience to accommodate any niche needs your HOA may have

For these reasons and more we've chosen to provide a tight integration between HOALife and QuickBooks Online

The HOALife <=> QuickBooks Online Integration

The HOALife integration to QuickBooks Online provides the following functionality:

  • Synchronized ownership information. Change of a Property's owner in HOALife? We'll automatically create a QuickBooks Customer for you. Update of a Property owner's contact information in QuickBooks? We'll automaticaly sync that information over to HOALife.
  • View a property owner's account balance directly in the HOALife dashboard; link directly to the property owner's account from the HOALife dashboard to their respective QuickBooks Online account.
  • Display of a property owner's account balance and invoices directly in the HOALife Owner's Portal.
🚨 Important Terminology

HOALife Property Owners are represented in QuickBooks Customers. While, initially, there will be a 1:1 mapping of HOALife Properties to QuickBooks Customers this will change as properties change hands through home sales. When this happens, we'll create a new Customer representing the new Property Owner. This allows for a separation of Customer account balances while maintaining a historical record of prior Property Owners' financials.

HOALife's data is treated as the record of truth.

HOALife Property data is mapped to QuickBooks Customer data as follows:

HOALife Property

QuickBooks Online Customer

Physical Address | Mailing Name

Display Name

Mailing Name (first name)

First name

Mailing Name (last name)

Last name

Street 1

Shipping Address 1

Street 1

Shipping Address 2

City

Shipping Adress City

State

Shipping Address State

Postal code

ZIP code

Mailing Street 1

Billing Address 1

Mailing Street 2

Billing Address 2

Mailing City

Billing Address City

Mailing State

Billing Address State

Mailing Postal code

Billing Address Zip code

Mailing country

Billing Address 1 Country

Emails (first only)

Email

Phone numbers (first)

Phone number

Phone Numbers (second)

Mobile number

Only a subset of QuickBooks Customer data is synced to the HOALife Properties.

QuickBooks Customer data is mapped to HOALife Property data as follows:

QuickBooks Online Customer

HOALife Property

Billing Address 1

Mailing Street 1

Billing Address 2

Mailing Street 2

Billing Address City

Mailing City

Billing Address State

Mailing State

Billing Address Zip code

Mailing Postal code

Billing Address 1 Country

Mailing country

Email

Emails (first only)

Phone number

Phone numbers (first)

Mobile number

Phone Numbers (second)

Setup

You will need to setup a QuickBooks Online subscription (any plan should work) as well as an HOALife subscription prior to setup. The initial setup of HOALife will create a single QuickBooks Customer for every property in your HOALife account.

  1. Start connecting your HOALife HOA to your QuickBooks Online account here. If you have access to multiple QuickBooks Companies, you'll be prompted to select the desired one.
  2. You'll then be redirected back to HOALife to complete your setup. Update your configuration to initiate a complete sync of HOALife Property Owner data to QuickBooks Customer data. * If you have a QuickBooks Online Plus or higher subscription, you can specify QBO Customer Types that we'll manage for you.
  3. You will be prevented from making settings changes while a sync is in progress. You should begin to see HOALife Property Owner data created as QuickBooks Customers. Reload the page after a minute or two (depending on the size of your HOA) and the sync should be complete.
  4. You're setup! Going forward, changes will be updated between HOALife and QuickBooks Online in near real time as the data changes.
Merging Customers

If you already have QuickBooks Customers representing owners of properties within your community prior to setup, you may need to do a one-time manual merge of the QuickBooks Customer HOALife has created and the QuickBooks Customer that already existed. Read more about merging QuickBooks Customers here.

Disconnecting

You can disconnect your HOALife <=> QuickBooks Online integration at any time. Disconnecting your integration will not remove any QuickBooks data. Reconnecting at a later time may create duplicate QuickBooks Customers.

How did we do?

Exporting Property Data

Contact