How to Create a New Association

To create a new association:

1. Navigate to Association > Association List.
   The Associations page opens. 
2. Click New Association.
   The New Association screen opens.
3. Provide the following information for your new association:
   
   
    

• Code: Enter the code to use as the prefix for all account numbers for your new association. Depending on your banking integration, this association code may be required and verified to process transactions. Association Codes must be unique. This includes codes that are similar except for leading zeroes; for example, if code “T100” exists then “0T100” is not allowed.
• Status: Select the appropriate status for your association:
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    • Onboarding: Recently created associations that are not live yet. Select this option when creating the association.
    • Live: Only select this status after you created the bank account and at the beginning of the association contract date to indicate a fully functioning and actively managed association (do not select during the association creation process). This status turns your association on and activates all automated processes, such as sending emails, processing transactions, bank reconciliations, etc. 
    • Not Managed: No longer managing the association.
• Name: Enter the name of the association to use for record-keeping purposes and all generated correspondences, including email, letters, coupons, and statements.
• Nickname: Enter a different name for the association for internal viewing purposes. Only users logged into Vantaca.net can see this nickname, as it is not produced on any correspondence or displayed in the owner's portal.
• Tax ID (required): Enter the Federal Tax ID for your association. This ID is required to process bank transactions. 

• StateTaxID: Enter the State Tax ID for your association.

  Note: To update tax IDs for multiple associations at once, use the Association Tax ID import. For more information and to download the template, see the "Import Templates" article.

• Type: Select the type of community that this association is for, such as HOA, COA, etc.
• (Optional) Service Type: Select the type of service that your company provides to the new association, such as Full Management or Financials Only. This field is used for display and organization only.
• Model Association: Select the Model Association you would like the new association to imitate.
• Accounting Method:
  • Cash Basis?: Select to remove AR from reflecting on your Balance Sheet.
  • A/P - Cash Basis: Select to remove AP from reflecting on your Balance Sheet.
  • Send 1098 (Optional):  Select to enable Form 1098 mortgage interest reporting for this association. Use this for cooperative housing corporations (co-ops) where shareholders share proportional responsibility for the association's mortgage and need Form 1098 statements for their tax returns. For more information, see the "1098 Mortgage Interest Reporting" article.
  • Total # of Shares (Required if Send 1098 is selected): Enter the total number of shares for the association. This field accepts decimal values up to 2 decimal places. This total must equal the sum of all individual property shares for accurate Form 1098 calculations.
• Company: Select which Company to use for things such as Portal and Website URL, Remittance Address for statements, etc.
• Portfolios: Select which portfolio the association will use, based on the portfolio types available. Each Required Portfolio displays. Click in the Portfolio column to select from the available options. To add additional Portfolios, either from the Required - Multi Allowed or the Not Required Portfolio Types, click +New Portfolio. To remove Portfolios, either from the Required - Multi Allowed or the Not Required Portfolio Types, click Delete.
  Note: Failing to include all required portfolios results in an error message and does not allow you to create the Association. 
  
  

4. Click Update.

Note on Historical Data: When transitioning data from a previous management company software, avoid importing historical paid invoices directly into Vantaca. This can disrupt GL beginning balances and create accounting complications. Instead, upload invoice PDFs to the Documents section for reference while maintaining clean financial records from your start date forward.

FAQ
 

Q: Why can't I see my newly created association in the Association > Association List screen?

A: The association hasn't been added to a Portfolio or Responsibility yet.

To add the association to a Portfolio:

1. Go to Settings > Portfolios
2. Locate the appropriate Portfolio and click the caret (arrow) to the left of the Portfolio name
3. Click the Associations tab
4. Search for the association
5. Check the box to the left of the association code
6. Click Save changes

To add the association to a Responsibility:

1. Go to Settings > Responsibilities
2. Locate the appropriate Responsibility and click the caret to the left of the Responsibility name
3. Click the Associations tab
4. Search for the association
5. Check the box to the left of the association code
6. Click Save changes

Once added, eligible users will be able to see the association.

Q: How do I add a new Service Type as an available selection on the New Association window?

A: Service Types on the New Association window are managed on the back end and cannot be added directly by users. These are separate from the Service Types found in Service Providers > Service Types, which are used for Service Contracts. To request a new Service Type be added, please contact Vantaca Support and specify the name of the Service Type you'd like added.