Guide to Creating Member Special Assessment Invoices for Members Who Own Shares of One Cabin

Learn how to efficiently manage special assessment and annual capital contribution invoices for shareholders with this concise guide.

March 15, 2025 By Tim Moody

In this guide, we'll learn how to efficiently handle special assessment invoices for multiple cabin shareholders using QuickBooks. This process involves creating and duplicating invoices for shareholders, ensuring they are correctly categorized under the member annual capital contribution account. We'll focus on using QuickBooks features to streamline the task, such as creating duplicate invoices and verifying entries. This guide aims to provide a concise overview of the steps involved, helping you save time while ensuring accuracy in your financial records.

Let's get started

I recently created a guide on handling special assessment invoices or annual capital contribution invoices for multiple cabin shareholders. These shareholders, such as Tim Quigley, are highlighted in yellow.

I completed all of them first because they are slightly more complicated than the others. The previous guide was more thorough as a result, whereas this one will be concise, showing my personal process which has been refined over the years to be very fast, while remaining accurate.

We are currently handling an emergency special assessment. Today's date is March 12th, and I will use this date for the invoices since the announcement was made today. The spreadsheet I'm using was sent by Steve, and we are proceeding with the $160,000 special assessment.

These figures were based on different amounts we might assess. We've decided to assess the full $160,000, so I'll be using these amounts here on the right.

Step #3: Click on "$ 3,472.14" — Click on "$ 3,472.14"

These are grouped by cabin. Once I've addressed the multiple cabin shareholders, I like to copy the amount for, say, Mrs. Coolidge's

Step #4: Right-click on "$ 3,472.14" — Right-click on "$ 3,472.14"

Step #5: Click on "Copy" — Click on "Copy"

I have copied it, and there are four shareholders who do not own other shares.

These four in white are the ones. I'll start with Leslie Feder.

Type "feder + Tab + Enter"

I will retrieve the special assessment invoice from 2024.

Step #9: Double-click it to open. — Double-click it to open.

If I didn't have one readily available, I would grab the annual capital contribution since they are invoiced similarly. Now, I'm going to create a copy.

Step #10: Click on "Create a Copy" — Click on "Create a Copy"

A message will appear saying a duplicate invoice has been created, and I'll click OK.

I will know it worked correctly when I check the invoice date, and it matches the current day.

For special assessment invoices, just like the annual capital contribution invoices, we use the accounts receivable called Member annual capital contribution.

This is not a field we usually pay attention to because we typically use the normal AR general accounts. However, for this task, we will use the member annual capital contribution.

Step #15: Next, I will change the notation using a macro key I programmed to type my memo. Without it, I would copy and paste or type "emergency special assessment" directly in the invoice description. — Next, I will change the notation using a macro key I programmed to type my memo. Without it, I would copy and paste or type "emergency special assessment" directly in the invoice description.

Include it in the description and the memo in the lower left corner of the invoice

Step #16: Drag "2024 Special Assessment" — Drag "2024 Special Assessment"

Type "Emergency Special Assessment"

Step #18: For the rate, I copied it earlier, so now I will paste it. — For the rate, I copied it earlier, so now I will paste it.

Type "Ctrl + V" to paste with a keyboard shortcut!

Step #19: Now, I will click save. — Now, I will click save.

Here's a neat trick I'm going to show you. Go ahead and create a copy.

Step #20: Click on "Create a Copy" — Click on "Create a Copy"

Click "OK" when you see the duplicate invoice notification.

Review the spreadsheet Steve sent you.

Step #23: The next person on the list for Mrs. Coolidge's is Keith and Nancy Johnson. — The next person on the list for Mrs. Coolidge's is Keith and Nancy Johnson.

Step #24: They are equal in number the amount of money, so no need to re-copy the amount. — They are equal in number the amount of money, so no need to re-copy the amount.

In QuickBooks, go to the field at the top left. Delete the customer name and start typing until you find a match.

Step #25: Click on "Leonard -member" — Click on "Leonard -member"

Type "johnson, k"

Then, I'll create a copy and click OK.

Step #29: Click on "Create a Copy" — Click on "Create a Copy"

Type "Alt + Tab"

I see that the next one is Jennifer Wainwroth. (I'm sorry - it's spelled Weinraub but that is so funny I'm leaving it. What a typo! AI voice transcription at its finest)

Step #32: Click on "Jennifer Weinraub & David Evelyn" — Click on "Jennifer Weinraub & David Evelyn"

Type "Alt + Tab"

As long as you're careful and choose the correct accounts, this can save a lot of time.

Type "weinra"

Step #36: Click "Save" again. — Click "Save" again.

Step #37: Click on "Create a Copy" — Click on "Create a Copy"

The final one is Barbara Bailey.

Type "bailey"

Step #41: Click on "Save & Close" — Click on "Save & Close"

Save and close. That was a whirlwind of speed. We will double-check to ensure we did it correctly.

Step #42: We're back at Leslie Feder's account because that's where we initially started. — We're back at Leslie Feder's account because that's where we initially started.

We will check to ensure the invoice was created.

Step #43: Yep! We see it here on today's date. It is affecting the accounts receivable member annual capital contribution account and has the notation "emergency special assessment." — Yep! We see it here on today's date. It is affecting the accounts receivable member annual capital contribution account and has the notation "emergency special assessment."

Step #44: We can confirm it is for the correct amount of money. — We can confirm it is for the correct amount of money.

Let's look up Keith Johnson's account.

Type "johnson, k + Tab + Enter"

We see the same thing here.

Step #47: Here's the invoice! — Here's the invoice!

Go through and double-check each account. It's a massive time saver because if the amounts and notations are the same, you can save the same invoice to multiple accounts, more or less, very quickly this way.

Next, go down to the next cabin. This is where the rate will change (not between EVERY cabin, but some).

Step #48: Click on "$2,721.41" — Click on "$2,721.41"

I'm going to copy the amount of money right here.

Step #49: Right-click on "$ 2,721.41" — Right-click on "$ 2,721.41"

Step #50: Click on "Copy" — Click on "Copy"

Be cautious if someone owns more than one share of a cabin. For instance, in cabin one, Damaris and Steve Verzulli owe double the amount because they own two shares of it, as shown in the two images below.

They are not highlighted in yellow because they are not considered multi-cabin shareholders. They are simply multi-share owners of the same cabin. You should check to ensure none of these are coming up to be cautious of. Only a few people have more than one of the same share without also having a share in a different cabin. Looking at Presidents, the next one I'm working on here, I can see that every single one of them is identical, so no need to worry about the next few changing in terms of the money involved.

Step #53: All of the non-yellow shareholders for Presidents owe "$2,721.41" — All of the non-yellow shareholders for Presidents owe "$2,721.41"

We will open Eric Leach's account.

Type "leach + Tab + Enter"

Step #55: Pull up the related invoice to duplicate. — Pull up the related invoice to duplicate.

Step #56: Click on "Create a Copy" — Click on "Create a Copy"

Step #57: I'm using my macro key to insert the notation where needed. — I'm using my macro key to insert the notation where needed.

Type "Emergency Special Assessment"

Type "Emergency Special Assessment"

Step #61: Then, I'll go to the rate, paste in the new amount, and save it. — Then, I'll go to the rate, paste in the new amount, and save it.

Type "Ctrl + V"

Step #63: Click on "Save" — Click on "Save"

Always check to ensure they are going into the correct accounts receivable before duplicating.

Step #65: I am doing a final check to ensure the correct amount is applied, — I am doing a final check to ensure the correct amount is applied,

Step #66: then creating a copy. — then creating a copy.

Step #67: The next person on the list for the cabin I'm working on is John Kuriawa. — The next person on the list for the cabin I'm working on is John Kuriawa.

Type "kuriawa"

I'll save a copy to his account, and then create another copy (and so on, and so on, and so on).

Step #71: Click on "Create a Copy" — Click on "Create a Copy"

Type "Alt + Tab"

The next one is Bradley Steck.

Type "Alt + Tab"

Type "bradley-"

Step #77: Click on "Save" — Click on "Save"

Save it.

Step #78: Click on "Create a Copy" — Click on "Create a Copy"

Type "sanson"

Step #81: Click on "Sanson / Wright -member" — Click on "Sanson / Wright -member"

Step #82: Click on "Save" — Click on "Save"

Step #83: Click on "Create a Copy" — Click on "Create a Copy"

Type "kalbfus"

Step #86: Click on "Kalbfus / Hamilton -member" — Click on "Kalbfus / Hamilton -member"

Step #87: Click on "Save" — Click on "Save"

Step #88: Click on "Create a Copy" — Click on "Create a Copy"

Type "schmitt"

Step #92: Click on "Save" — Click on "Save"

Step #93: Click on "Create a Copy" — Click on "Create a Copy"

Type "isaac"

Step #97: Click on "Save & Close" — Click on "Save & Close"

Fast as hell! :)

Here's another way to check if you're hitting them correctly. Go to "Account" and then to the "Accounts Receivable" section near the top of the accounts list. Double-click on "Member Annual Capital Contribution" to open it.

Step #98: Click on "Account" — Click on "Account"

These are sorted by date, so you'll see the ones you've just completed all in a row here.

You will see them dated March 12th, the name on the account, the memo,

and the amount will be on the far right of the screen.

You can switch between the PDF and QuickBooks by using the Alt + Tab keyboard shortcut. I've been doing that back and forth this entire time in order to check who's next on the list, verify the amounts, etc.

Ensure every person is accounted for, and check your totals at the very end. Don't go fast if it's causing you to make errors - accuracy is EXTREMELY important. This is my workflow, but I've done these for years. I also double and triple check everything at the end. Please do the same :)

If anyone has questions, feel free to ask. This process is straightforward. The key tip is to ensure they are using the correct A/R account, as we often overlook accounts receivables. Typically, 99% of our work defaults correctly to the same account. However, special assessments or capital contributions must differ.

Step #103: ...the below image is in no way, shape, or form relevant to this guide. It does not belong here, yet, here it is. 🤔 — ...the below image is in no way, shape, or form relevant to this guide. It does not belong here, yet, here it is. 🤔