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janedufrane-gmai
Level 1

How do i make a manual entry to record rental income?

 
1 Comment 1
MaryJoyD
QuickBooks Team

How do i make a manual entry to record rental income?

I can show you how to record your rental income in QuickBooks Online (QBO), @janedufrane-gmai

 

After setting up your tenants as customers, you can now record the rent income as invoices when you receive payments at a later date. Otherwise, you can create sales receipts when you receive their payments right away.

 

Here's how to create an invoice:

  1. Go to the + New button and select Invoice.
  2. Complete the fields with necessary information.
  3. Select Save or Save and send.

To receive the payment:

  1. Go back to the + New button and select Receive Payment.
  2. Choose a customer or tenant, then select invoice/s you want to close out.
  3. Select the payment method and account where the payment will be deposited to.
  4. Click Save and close.

You can follow this article for detailed guidance on how to create invoices in QuickBooks Online. When you receive the payment, you can now record invoice payment

 

If they've made payments right away, you can use a sales receipt. 

 

To create a Sales Receipt:

  1. From the + New button select Sales Receipt.
  2. Choose the name of the customer.
  3. Add the sales information, then select Save and close.

See this article for more information: Create and send a sales receipt. Also, here’s more information about when to use an invoice or a sales receipt.

 

Let me know if you have any follow-up questions in recording your income. I'm always here to help. Have a wonderful day!

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