How to track money paid to property management company to hold

the money paid in advance is your asset, so create an asset account called property reserves and post the payment to that account.

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@Tapodaca2020 wrote:

I need to track money paid to property management company to hold as a reserve for future repairs and maintenance etc.

 

Need to create an account in Quicbooks Online to allocate for that. Can someone please help me figure this out?

 

I tried to create a A/R account called Adjustments - Property Reserves but that didn't work out.

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@Tapodaca2020 

"I tried to create a A/R account called Adjustments - Property Reserves but that didn't work out."

In QBO, you can have just one main A/R account.

In other to create other Misc Receivable type account, you will need to select Other Current Assets for Account type and Detail type. You can name any way you want. If you've multiple properties, it's a good idea to specify by property location. You can run the report for the activities and running balance but it would not have the A/R Aging type report.

I hope this helps!