ACCOUNTING - New Condo Setup

Purpose: High-level overview of 1st steps after Condo import

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After a Condo is imported into your Database, there are steps that must be completed before beginning the Accounting.  Setting up the Condo correctly is vital to ensure proper financial calculations and report generation.

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• Step 1 - Enter Condo financial information
  • Corporation Setup Checklist, pg2
    
    
• Step 2 - Enter the Budget, Assessment, and Special Assessment
  • Corporation Setup Checklist, pg4
    
    • https://shiftsuite.zendesk.com/hc/en-ca/articles/4405975858715-Special-Assessment
    • https://shiftsuite.zendesk.com/hc/en-ca/articles/4407082266779-Revised-Assessment
      
      
• Step 3 - Configure Chart of Accounts
  
  • Corporation Setup Checklist, pg5
    • https://shiftsuite.zendesk.com/hc/en-ca/articles/4404716925467-Editing-and-adding-Chart-of-Accounts 
      
      
• Step 4 - Configure Chargeable Items
  • Corporation Setup Checklist, pg8
    • https://shiftsuite.zendesk.com/hc/en-ca/articles/4406680413083-Managing-your-Company-Corporation-Chargeable-Items 
      
      
• Step 5 - Enter Opening Trial Balance
  • Corporation Setup Checklist, pg11
    • https://shiftsuite.zendesk.com/hc/en-ca/articles/4417718375579-Detailed-Opening-Trial-Balance-Procedure 
      • Continue to enter A/R and A/P entries
        
        
• Step 6 - Verify setup information via Financial Statement
  • Corporation Setup Checklist, pg15
    • https://shiftsuite.zendesk.com/hc/en-ca/articles/4405975109787-Financial-Statements