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Work smarter and get more done with advanced tools that save you time. Discover QuickBooks Online Advanced.

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Replying to:
LollyNino_C
QuickBooks Team

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Hello there, @Dolly Caswell

 

It’s nice to see you in the QuickBooks Community. The Create a property management company article will guide you through the steps on how to set up property management and track income and expenses.


If the property manager is already set up in QuickBooks, you can start with recording the payments by property. I'll guide you through the step-by-step process.


To receive payments:

  1. From the Customers menu bar, choose Receive Payments.
  2. In the Account drop-down, select the accounts receivable sub-account for the property.
  3. From the Customer: Job drop-down, choose the tenant.
  4. Enter the amount of the payment.
  5. If you have multiple payments on a property, select Group with other undeposited funds.
  6. Choose Next.
  7. Then continue entering all the payments.

To make deposits in QuickBooks:

 

  1. Go to Banking at the top menu bar, and select Make Deposits.
  2. In the Payments to Deposit window, choose the payments to deposit and select OK.
  3. In the Make Deposits window, select the Deposit To drop-down, and choose the checking sub-account for the property.
  4. Once done, save the deposit.

For detailed instructions on input income and expenses, click on this link and go directly to the Record transactions and complete other tasks section.

 

Check out this article link: Set up Rental property in QuickBooks Online for more details. 

 

If there's anything else that I can help you with, leave me a comment. I'll be glad to assist you further. Wishing you the best.

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