rent

Welcome to the Community, sw1222. I can surely help you with how to mark the payment as paid.

To begin, you'll need to create first a credit memo.

Here's how:

1. Select + New. Then, select Credit memo.
2. From the Customer dropdown, select the customer's name.
3. Enter the credit memo details, such as the date and the amount.
4. Once done, select Save and close.

Then you can now apply the credit by creating a receive payment transaction.

Here's how:

1. Select +New. Then, select Receive Payment.
2. Choose a customer on the dropdown button.
3. Under Outstanding Transaction, tick the invoice where you want to apply the credit memo.
4. Under the Credits section, make sure the credit memo you created is marked check.
5. Once done, click Save and close.

I'll leave this article for you to have additional information and learn how and when to give a credit memo or delayed credit: Create and apply credit memos or delayed credits in QuickBooks Online

Additionally, you can visit our article on how to run basic reports in QuickBooks Online.

Don't hesitate to reply if you have more concerns about marking your invoice as paid or any other QuickBooks-related concerns. I'm always here to help. Take care.

@sw1222 

What bank account did the deposit go into?  A personal account?  A different business's account?    

The problem is there is no invoice to bill against.  They pay monthly without me sending an invoice.

A personal account

Thanks for getting back to us, @sw1222. Let me guide you in recording a sales receipt in QuickBooks Online (QBO) to record the rent payment without an invoice.

First, you can create a personal bank account to put the payments for this month's rent. Then, create a sales receipt to record the income without an invoice. Here's how:

1. Go to + New and select Sales Receipt.
2. Select the Customer.
3. Enter the necessary details.
4. Under the Deposit to dropdown, select the personal bank account you created.
5. Click Save and Close.

If you need to move the money from your personal to a business account, you can record it as a transfer in QBO. 

Additionally, it's recommended to review and reconcile your accounts in QBO to ensure they align with your bank statement.

You're always welcome to get back to us whenever you have any follow-up concerns about recording your income in QBO. The Community is open anytime to provide further assistance. Stay safe, and have a nice day ahead.

@sw1222 

Ignore @JaeAnnC 's reply.  You should not create your personal bank account in your business's books. 

There are a number of ways this can be recorded.  I think the cleanest way is to create an invoice so you can accurately record the income.  You should create an invoice every month for rent regardless of whether you send it to your tenant or not so this method creates consistency.  Then, create a bank account in QB called 'Clearing Account'.  This just serves as a temporary holding account.  Receive "payment' on the invoice and deposit the payment to the Clearing Account.  If you aren't planning on depositing the funds in the business account, make a journal entry (New > Journal entry): debit the appropriate owner's equity account and credit the Clearing Account for the amount of the invoice/payment.  If you're a sole proprietorship/single-member LLC, use your Owner's Capital/Owner's Draw equity account on the debit entry.  You now have both the income from the invoice and the reduction in equity accurately recorded.  If the business is anything other than a sole proprietorship/single-member LLC, you will need to debit a different account on the journal entry.  Let me know if that's the case.