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hasan2
Level 1

Hi, i have just started a rental agency renting flats, how can i do rental invoices for the landlords?

 
Solved
Best answer April 13, 2020

Accepted Solutions
Catherine_B
QuickBooks Team

Hi, i have just started a rental agency renting flats, how can i do rental invoices for the landlords?

Hello there, hasan2. 

 

We can create a full invoice amount for the tenant, once you've received the payment. The fee you mentioned that you take is that the only part you want to show as income?  Have you created a chart of account to hold that paid amount in to then pass to the landlord? We'd recommend that you reach out to an accountant for more advice on how to enter these transactions depending on your business preference. 

You can always reach out to me if you need more help. Take care!

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3 REPLIES 3
JaneD
Moderator

Hi, i have just started a rental agency renting flats, how can i do rental invoices for the landlords?

Hi hasan2,

 

Congratulations on starting your rental agency!

 

We have a Projects feature in QuickBooks Online (QBO) that suits your concern. This helps you organize and assign transactions. This also lets you track income and expenses and calculate your profits by job.

 

In this case, you can add your landlords as customers and tenants as projects. Beforehand, let's activate your Projects feature. I'll guide you how.

 

  1. Click on the Gear icon and choose Account and Settings.
  2. Go to Advanced.
  3. Click on the pencil icon in the Projects section.
  4. Mark to select the Organize all job-related activity in one place checkbox.
  5. Click on Save and then Done.

Then, let's add your landlord as a customer:

 

  1. Go to Sales and choose Customers.
  2. Click on New customer.
  3. Enter the landlord's information.
  4. Click on Save once done.

To add tenants as projects:

 

  1. Go to Projects and click on New project.
  2. Enter the tenant's name in the Project name field.
  3. Select the landlord's name in the Customer drop-down arrow.
  4. You can also add some notes.
  5. Click on Save.

From there, you'll be able to create and send an invoice to your landlord. See the Create invoices article for reference. This link provides detailed information about managing your sales in QBO.

 

I've also added some resources to learn more about our Projects feature:

If you have other questions in mind about recording your sales or expenses, feel free to let us know in the comment section. We're only a post away. Stay safe and have a great day.

hasan2
Level 1

Hi, i have just started a rental agency renting flats, how can i do rental invoices for the landlords?

hi, 

basically i need to send a rental invoice to a tenant, this rent i collect on behalf of the landlord and then i need to send the landlord a invoice less my fees from the rent, how could i do this ?

 

Catherine_B
QuickBooks Team

Hi, i have just started a rental agency renting flats, how can i do rental invoices for the landlords?

Hello there, hasan2. 

 

We can create a full invoice amount for the tenant, once you've received the payment. The fee you mentioned that you take is that the only part you want to show as income?  Have you created a chart of account to hold that paid amount in to then pass to the landlord? We'd recommend that you reach out to an accountant for more advice on how to enter these transactions depending on your business preference. 

You can always reach out to me if you need more help. Take care!

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