QuickBooks Pro and Premier
With the QuickBooks Pro Edition of Alta Star HUD LITE, you can post checks and deposits from your HUD-1/1A settlement statement directly into QuickBooks Pro or QuickBooks Premier.
Print Checks via QuickBooks Pro! Connects directly to QuickBooks Pro data file
Automated rollback of posting to QuickBooks Pro if your settlement figures change. You can also Repost to QuickBooks Pro using revised figures after rollback.
No need to export and import data. No need to use QIF files to temporarily hold QuickBooks data .
Complete Your Settlement Statement
Fill in the your settlement statement in Alta Star HUD LITE;
Associate each amount in your settlement statement must be associated with a payee. See Payees and Payors
Using the HUD LITE Receipts and Disbursement menu, reconcile the loan proceeds, if needed, and make any other required changes to the receipts and disbursements. See Receipts and Disbursements
The QuickBooks program must be open and running on the same computer as Alta Star HUD LITE. QuickBooks should be open in multi-user mode.
Within QuickBooks, open the QuickBooks Company Account to post the checks and deposits to. Typically, the QuickBooks Company Account holds only your trust or escrow funds.
You must have a bank account set up within QuickBooks and know the name of the bank account assigned in QuickBooks.
Post to Quickbooks
From the HUD LITE Receipts and Disbursement screen, click on the QuickBooks Pro button to take you to the QuickBooks Transfer Screen.
Enter the name of your QuickBooks Bank Account that will receive settlement deposits and pay settlement checks.
In the QuickBooks Transfer Screen, you may enter or revise the name of a new or existing empty current liability account in QuickBooks to which your settlement transactions will be posted. Each Hud-1 settlement will be posted as checks and deposits in the specified QuickBooks bank account and also as a transfer to a settlement account. HUD LITE will create the settlement account in QuickBooks if it does not exist. Each settlement statement gets transferred to a separate QuickBooks current liability account;
Allow Access to QuickBooks: If prompted, click the button that says Post Checks and Deposits to QuickBooks. If prompted by QuickBooks to allow access, choose "Yes, This Time", or for quickest results choose "Yes, Always". (If prompted, it is not necessary to allow access to social security numbers or personal information.)
Confirm Results of Posting
When the program has completed the process of posting to QuickBooks, the results of your posting will be displayed. Assuming the posting is successful, within QuickBooks you can navigate to the settlement account that you specified for this closing. In the settlement account in QuickBooks you can view all of the receipts and disbursements posted to QuickBooks. The settlement account should always end with a zero balance, as the receipts should equal the disbursements.
Check Memo Lines
HUD LITE enters a default memo line for each check, or the memo line you specify when you added the payee within HUD LITE. See Payees and Payors
Before printing your checks, within QuickBooks you can make any adjustments you desire to each check's memo line, such as adding an account number of other payment explanation. See Payees and Payors
Assuming you are satisfied with the posting, you can print your checks from your QuickBooks Bank Account Write Checks Screen.
Rollback: Making Changes to Settlement Figures After Posting to QuickBooks
After posting to QuickBooks, if you need to make changes to your closing you can rollback (remove) the posting from QuickBooks, if you haven't manually made changes to the figures within QuickBooks.
To rollback, from the QuickBooks transfer windows (accessible from the QuickBooks button in the Receipts and Disbursements screen), click the Rollback button.
After you rollback the prior posting to QuickBooks, you can revise your settlement figures within HUD LITE and repost your settlement to QuickBooks as described above.
See Payees and Payors
See Receipts and Disbursements