this question is in the context of real estate transactions, more specifically I'm recording transactions done by our property manager...using quickbook online
property manager collects rents and sometimes pays vendors for small bills, like a small water leak let's say. at the end of the month, PM sends me an owner statement and deposits in our checking account the amount left after collecting rents, paying vendors (if needed), and paying themselves a management fee.
what I've been doing on our side is follow the invoice workflow:
Create invoice for each tenant -> "receive payments" on the date the money hits our account -> "create bank deposit" and details all the transactions -> match deposit to banking transaction.
which works great, but..in the case of vendor payments done by PM: I would like to create a bill on my side and then record the bill payment that has been done in the bank deposit with all the transactions from the PM owner statement. just so i can go into the vendor page and see all the transactions in one place
doesn't look like this is possible...so what would be the recommended way?
i do know that i can record the payment been done on the day we receive the funds and that seems to be working,.. the problem is that there's no link between the payment and the banking transaction and/or deposit so i can't trace it back from where the payment comes from.
I understand that you need to view all the expense transactions on the Vendor page. However, we're unable to link the payment into the deposit/downloaded bank transaction since the small bills we're directly paid by the property manager.
To track them, you'll want to consider adding a memo to the bill to indicate that its payment is related to the bank deposit. Here's how:
Click the + New button.
From the Supplier dropdown, select a supplier.
Set the appropriate terms, bill date, due date, and bill number.
You have clicked a link to a site outside of the QuickBooks or ProFile Communities. By clicking "Continue", you will leave the community and be taken to that site instead.
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
We have to collect some data when you use this website so it works and is secure. We'd also like your consent to collect data to study how people use our site. Doing so helps us improve our services and allows us to tailor the marketing you see on our site. Select 'Accept cookies' to agree or 'Cookie settings' to choose which cookies we use. You can change your mind at any time by clicking the 'Manage Cookies' link.
Choose your cookie preferences
Some cookies are needed to make our website work and can't be turned off. But we need your consent to use others that are not essential. You can make your choices below and update them at any time using the 'Manage Cookies' link. To find out more, visit our Cookies Policy.
These cookies are necessary for the site to function. They also help us keep your data safe.
These cookies allow us to enhance your experience and remember your preferences, region or country, language, and accessibility options.
These cookies tell us how customers use our website. We study and organize this data to help us optimise our content and provide you with personalised experiences.
These cookies help us provide you with relevant communications and ads in our products and on other sites.