How do you track airbnb income?

I'll outline the step-by-step process on how you can track rental income for Airbnb and VRBO in QuickBooks Online (QBO), jmcpropertyllc.

First off, to record income from your Airbnb and VRBO rental business, you need to set up two separate income accounts specifically for Airbnb and VRBO.

Here's how:

1. Navigate to the Transactions menu.
2. Click Chart of accounts, then click the New button.
   
   
3. Enter the Account name and select the appropriate Account type (Income).
4. Once done, click Save.

Once you have these accounts set up, use the Products and Services feature to create items for different types of rental income, such as the nightly rate, cleaning fee, and extra guest fee. Then, add these items to the transactions you'll be recording to track and record the rental income.

Then, you can create and record an invoice if payment is expected later or a sales receipt if payment is received immediately. Ensure that the correct account is used when recording the rent payments.

However, it's best to consult with your accountant before making changes to ensure professional financial management, tax compliance, and strategic growth for your rental business. An accountant can help optimize your accounting setup, ensure compliance with local regulations, and provide insights into maximizing profitability.

Additionally, you can refer to this article to generate a Profit and Loss % of Total Income Report filtered by Airbnb and VRBO accounts to track your rental income separately: Run a report in QuickBooks Online.

Furthermore, you can also seek assistance from a QuickBooks Live Expert Assisted to properly set up and manage your Airbnb and VRBO business in QBO. They can help you create tailored reports that provide insights into your rental property's performance, helping you make informed business decisions.

You can always revisit us whenever you have more questions about tracking rental incomes in QuickBooks Online. We'll be available to help. Have a wonderful day!