United States United Kingdom Australia Canada (English) Canada (French) France Singapore South Africa Global Ireland
cancel
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for 
Search instead for 
Did you mean: 
Announcements
JR1225
Level 1
posted
‎August 13, 2020 03:02 PM
last updated ‎August 13, 2020 12:02 PM

in quickbooks desktop how to make adjustments as a result of the government CECRA rent program

With respect to the gov CECRA rent assistance program that requires gov approval, the approval often comes after you have already invoices the 100% invoice and the tenants have paid 100% all of the invoice to 0% of the invoice and everything between.  in addition the gov rebates the 50% of the rent.  how do you enter these changes in quickbooks desktop as there is the adjusting of crediting the amount that was over invoiced and then applying the amounts that they have already paid re that invoice and then applying the gov payment of the 50%.  hope this has been explained properly.  Thank you in advance.

Reply Join the conversation
1 Comment 1
LeithG
Level 7
‎August 14, 2020 03:39 PM

in quickbooks desktop how to make adjustments as a result of the government CECRA rent program

From: https://www.cmhc-schl.gc.ca/en/finance-and-investing/covid19-cecra-small-business

"

I am a small business tenant. How can I be sure that my property owner will forward the CECRA for small businesses funding to me?

The rent reduction agreement stipulates that if you have already paid the April, May and/or June rent, the landlord will either, at your choice:

  • reimburse you for rent paid in excess of 25%, or
  • provide you a credit for future rental payments"

Thus, it is up to you to speak with your tenant and get their agreement on whether to  reimburse or credit future payments.

Reply Join the conversation

Need to get in touch?

Contact us