DawnW7 (South Carolina)
Posts: 20
Posts: 20
Posted:
I have read several forum topics on this, and there appear to be varying answers (to budget or not to budget). Last year, $ 9,500 was budgeted because two homeowners had not paid dues for 13 years. Yes, I know. 13. I was able to get them into a payment plan using our attorney, and we are now auto-drafting monthly from their bank accounts.
Q1: Now that they are paying the back dues, do I account for that on the bad debt expense line or assessments?
Q2: For 2027, I’m looking at approx. $900 as bad debt. Budget for it or don’t?