I am just wondering if anyone can help me with setting up quickbooks for a letting agent?  I need to account for rental income received on behalf of a landlord.  Am I right in thinking that I firstly have to set up a CUSTOMER (the landlord) and then the actual rented property as a SUBACCOUNT?  I believe the resulting transactions should pass through a creditors account. 

The rental money comes in and then needs to be transferred to the landlord account.  A commission sales invoice needs to be raised for the managing agents fees which needs to be deducted from the rental together with any other recharged amounts before the money can be paid to the landlord.

How would this work in quickbooks?