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Level 1

Reimbursing customer for an expense incurred by them

I rent out a condo and the tenant paid for a repair. I would like to reimburse him for this expense. So basically, I would like to achieve this in Quickbooks Desktop:

Dr. Repairs and Maintenance (Expense)

     Cr. The tenant's A/R account

 

How can I practically do this so that the expense properly shows up on the "Repairs and Maintenance" account and when I invoice the tenant I can add a line that will effectively reduce his outstanding balance (what he owes me)?

1 Comment
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QuickBooks Team

Reimbursing customer for an expense incurred by them

Hi Marchello,

 

Making sure your entries are hitting the correct accounts is imperative to keep accurate books. I can help point you in the right direction for this.

 

QuickBooks Desktop makes it easy to debit and credit accounts using the journal entry feature. In order to make a journal entry in QuickBooks Desktop you can follow these steps.

 

  1. Go to the Company menu and select Make General Journal Entries.
  2. Fill out the fields to create your journal entry. Make sure your debits equal your credits when you’re done.
  3. Select Save or Save & Close.

In order to find out what accounts to use and the best way to have it show against what a tenant owes, I suggest reaching out to your accountant as they are trained on how to make these entries. If you don't have an accountant don't worry, we have your back. You can go to our find an accountant page to find one in your area that can help.

 

Have a great day!