rental space

FactoryEdge · ‎September 17, 2022

Hi,

I rent a spot for my business. I have gone to chart of accounts and found building & property rent under expenses but can someone please tell me how to properly insert the amount I pay monthly and if I can set it up to automatically do expense first of every month?

Thnak you

Archie_B · ‎September 18, 2022

Thank you for getting back to us, FactoryEdge. I'm here to add some information about recurring transactions in QuickBooks Online.

You'll need to use a future date to create a recurring transaction.

Thus, I recommend manually entering past expenses. This way, we can generate expense transactions as early as 6-11-2022.

Here's how:

Go to the +New button, then select Expense.
Put the details needed especially the correct Payment Date.
Click Save and close.

I'm adding this link for more details in entering expense: Enter and manage expenses in QuickBooks Online.

To review your recurring transactions, you can also use this article as your reference: Review your recurring transactions in QuickBooks Online.

Please let me know if you have any further questions or concerns in the comments section. I'd be delighted to help. Have a wonderful weekend!

View solution in original post

Rubielyn_J · ‎September 17, 2022

I'm ready to provide the steps on how to enter the money you pay for monthly rental expenses, @FactoryEdge.

We can create a recurring expense to insert your monthly rental payment in QuickBooks. This way, it will be set up automatically according to the schedule you set.

Here's how to make a new template.

Proceed to Settings ⚙ and choose Recurring transactions.
Click New.
Select Expense, and then choose OK.
Enter a Template name.
Select Scheduled.
Complete the fields and click Save template.

For additional information, you may review this article: Create recurring transactions in QuickBooks Online. It also includes steps on how to duplicate an existing template and how to edit them.

Additionally, I've attached a link you can utilize on how to get a list of all your recurring transactions and the accounts they're linked to in QuickBooks Online: Review your recurring transactions.

This information should ease your mind about entering the payment for your monthly rental space. If you have any other questions, just let me know. I'm always here to lend a helping hand. Have a great day!

FactoryEdge · ‎September 18, 2022

Thank you for showing me those steps! Is it possiable to back date recurring expenses for example I need to have it start 6-1-22 and when I entered that data it said "recurring start date can't be before today"

Archie_B · ‎September 18, 2022

Thank you for getting back to us, FactoryEdge. I'm here to add some information about recurring transactions in QuickBooks Online.

You'll need to use a future date to create a recurring transaction.

Thus, I recommend manually entering past expenses. This way, we can generate expense transactions as early as 6-11-2022.

Here's how:

Go to the +New button, then select Expense.
Put the details needed especially the correct Payment Date.
Click Save and close.

I'm adding this link for more details in entering expense: Enter and manage expenses in QuickBooks Online.

To review your recurring transactions, you can also use this article as your reference: Review your recurring transactions in QuickBooks Online.

Please let me know if you have any further questions or concerns in the comments section. I'd be delighted to help. Have a wonderful weekend!

FactoryEdge · ‎September 18, 2022

Thank you both for your help greatly appreciated !!

ReymondO · ‎September 18, 2022

I'm glad my team was able to help you in inserting an amount, @FactoryEdge.

Please let us know if you have any follow-up questions or other QuickBooks-related concerns. We're always here to help. Have a nice day!

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