payments from rental property management

Welcome to the Community, dlusk. I understand you're new in bookkeeping. No worries, I'm here to guide you on how to manage your rental payments.

In QuickBooks Online, you can keep track of the transactions for each property you manage. I'll leave this article for you to have detailed steps to track your rent income and expense: Record transactions for a property management company. Please make sure that your income and expense records are correct.

If they have a bad debt with you, but you know you aren't going to get paid. You can write off a bad debt as a deduction.

Here's how: 

1. Go to Settings ⚙ and select Chart of accounts.
2. At the upper right, click New to create a new account.
3. From the Account Type ▼ dropdown, tick Expenses.
4. From the Detail Type ▼ dropdown, select Bad debts.
5. In the Name field, enter “Bad debts.”
6. Select Save and Close.

You may also want to check on this article for you to have detailed steps: Write off bad debt in QuickBooks Online.

If you need more help, you can contact your accountant. This can get tricky and they know how to handle the next steps. If you don't have one we'll help you find one.

In addition, you may check this article to learn how to send reminders to customers when your invoices are overdue: Send invoice reminders automatically or manually in QuickBooks Online.

Please don't hesitate to let me know if you have additional questions about managing your rental payments. I'm always here to lend a hand.

Thank you for the response. I may not have explained my situation properly as I don't know that this would fall under a bad debit. 

Here is an example I am dealing with. Rental company sent the owners statement for 10/11/23 to 11/10/23 and showing a starting balance for the unit for that month as $0. The unit is vacant and we have a new tenant with a lease for 11/10/23 to 11/30/23 prorated at $1628. They report no income and expenses of $450.00. Leaving the unit with a negative (-$450) ending balance. I have reoccuring invoices set up for each unit for the monthly rent and rental fees deducted, but they collected $814 on 11/10/23. The rental company collected $814 on 11/10/23 and did not report the payment on the statement for 10/11/23 to 11/10/23 because it was in their undeposited fund ledger but also did not reflect the payment on the 11/11/23 to 12/10/23 either.

Something happens with this tenant and they do stay or move in. Now have a new tenant tenant moving in with a prorated rent that month of $518 for 11/25/23-11/30/23.  The 11/11/23 to 12/10/23  statement shows a beginning balance of -$450, the prorated rent $518, the next month rental payment received for 12/1/23 $2295, fees collected from pervious tenant for damage $555, the regular management fee of $225.04, the management fee of $65.12 (for the $814 collected last month) and maintenance expenses of $3695. Which should leave a -$617.16. However, their statement shows -203.16 which per a discussion with them is reflecting the $814. collected and a $50 advance payment for the next month by the tenant.  Since we ended with a negative balance I am trying to figure how how I reflect the $814 payment that was received but never listed as income on any of the statements provided by the management company. 

Hi @dlusk , at the very least, the property management company should be sending to you a monthly owners statement. In this statement, it should detail precisely how much were received in rents as well as deducted for costs. When you receive a payout from the property management company, you can reconcile it against this owner statement. If you are creating an invoice for each payout, you can detail these line items there. For the months in which you are not receiving a payment, you can create a journal entry, expense or a zero balance invoice to enter the line items from the monthly owners statement. 

Cheers!