Let me provide some information to help you record transactions from your property manager, dn_reidy-bigpond.
You can record the transactions as invoices, expense or billable expense depending on how you've received the transactions.
To record expenses for the property including property expenses and property management fee. Create an expense or bill transaction and select the supplier the transaction is associated to.
Record the expenses based on when you pay them:
- As bills if you pay them at a later date.
- As checks if you pay your vendors right away.
Click on + New and choose from expense, cheques or bill.
To record the payments from tenants/customers, select either sales receipts or invoices.
- Enter a sales receipt if you've received payment right away.
- Enter an invoice if paid on a later date.
When a tenant damages the property or asks you to have some work done, you charge the expense on their account instead of the owner. You call these costs billable expenses.
Check this link to learn more about how to: Enter billable expenses in QuickBooks Online.
Post again in the Community if you have other questions about QuickBooks Online.
