Budgeting

Started by JohnM3 • 9 replies • 1334 views

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JohnM3 (Florida)
Posts: 288

Posted:

Does anyone know how to use microsoft excel spreadsheets to do a yearly budget that allows you to juggle amounts around and keep running totals so that you may make corrections as you wish. I have a copy of excel in my hoas lap top but I do not know the commands and where to put them my pm gave me some over the phone but it does not give me enogh spaces for all the individual budget items
Thank you if you wish you can email me privately vis this site

Thanks members

DavidW5 (North Carolina)
Posts: 565

Posted:

John,

Excel is very powerful software but it is fairly complex. You can add lines and columns, insert formulas for totals, etc. but it would be extremely difficult for someone to remotely explain to you how to do those things. I suggest you try to find someone in your community who has experience with Excel to sit down with you and help you with the spreadsheet you want to create

MicheleD (Kentucky)
Posts: 4,491

Posted:

Very often local libraries will give free or reduced-price seminars/workshops on Excel, Wordprocessing, Powerpoint, that sort of thing.

Check with your library.

SusanW1 (Michigan)
Posts: 5,202

Posted:

Quickbooks has a good program. It will do all that you asked about with no problem.

KirkW1 (Texas)
Posts: 1,665

Posted:

I would highly recommend getting a package like Quickbooks to do what you want. Not because Excel isn't up to the task, but because it is very general purpose. On the other hand, Quickbooks(and perhaps some competitiors) have spent a lot of time and money to design the software to help you run the business in a good fashion.

You will be able to add line items and juggle the amounts at will. And the thing will keep track of what is going on for you. They probably even have a wizard to help you get started if that hasn't been well established.

JamesS10 (Tennessee)
Posts: 7

Posted:

Are the packages such as Quickbooks, Quicken, etc easily transferable relative to historical data accumulated? If the association does not own a PC, but relies on a PC owned by the Treasurer (who has changed so far at each year's annual elections), how difficult is it to transfer the historical data that is accumulated each year from one PC to another PC? Does my question make sense? Thanks

SusanW1 (Michigan)
Posts: 5,202

Posted:

Yes it does. Some programs do have the ability to read other programs and apply the figures. I think that Quickbooks can accept some others.

I am sure there is a Quickbooks chat board somewhere or a Q/A service. Just Google it.

KirkW1 (Texas)
Posts: 1,665

Posted:

It would be a very simple matter to transfer this. Which brings up another thing:

If a person is using an illegal copy for the benefit of the HOA, then the HOA could potentially be held responsible. And being an IT guy, I just would not take it on faith that all treasurer's actually run a legitimate copy of Microsoft Office.

Another issue you could run into is even if you setup the spreadsheet correctly, the next guy could quite easily wreck your work and the one after that would be stuck with a wrecked spreadsheet. Thus again a reason to purchase the software. Have the treasurer sign an agreement that the software belongs to the HOA and that it will be removed at the end of their serving in office. Then make a backup CD to give to the treasurers as they come into office.

You may also want to budget for some tech support though that could require you to keep the version relatively up to date. All the same, it isn't very expensive. Out of curiosity I checked and it appears you can get an online version for about $10 a month. This would then eliminate any need to transfer data and software between computers. It is something to consider at any rate.

JamesS10 (Tennessee)
Posts: 7

Posted:

Thanks for the responses. I do like the online solution, that would eliminate the issue of having to backup one's PC in case of hard drive crashes of viruses.

Just for clarification though, my question wasn't exactly clear based on your responses. Example, current treasurer purchases Quicken and installs on personal PC for the current fiscal year. At next annual meeting a new treasurer is elected. Question is how easily will it be to transfer that past year's worth of data captured with the Quicken software over to the next treasurer's personal PC?

KirkW1 (Texas)
Posts: 1,665

Posted:

Actually James, the process is very simple. One can either use the built in backup and restore, or simply make a copy of the data file and copy to the correct location on the new PC.

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