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Membership dues invoicing and payments

elbmagbelbmagb Member Posts: 1

We have a community organization that has 500+ homes. Everyone is encouraged to join and we would like them to pay the annual dues. They are not required to join and around half will not. Am I better off to send a generic (non-wave) "invoice" requesting payment and then creating the invoice in Wave when I receive a payment? If not, my concern is I will have 250 or more invoices in Wave that I know will never be paid. How would I clear them out and keep a record that those homes did not join/pay during that particular year?

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    MikegMikeg Member Posts: 995 ✭✭✭

    elbmagb,
    From experience with accounting software in general, you would be better off keeping it outside of Wave. It can quickly ball things up on the accounting side. My suggestion would be to use something like Word where you can create a standard bill and using the merge and mailing feature can quickly generate a custom bill. You will need to have a separate file with names and addresses. Use Wave to do the cash based accounting.
    Mike G, CPA
    www.mgfinancial.net
    Better Service - Better Pricing

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    GrantWHallGrantWHall Member Posts: 24

    @elbmagb, ours is required and that is essentially still what we do. I do go ahead and build the invoices from within Wave but then we just send out a postcard telling everyone it is that time of year and that they need to get their checks to the PO BOX.

    I am going to invite you to join a group that I just created for HOAs.

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