Quickbooks landlord entering rental income

Hi @branimal,

You'll want to create a journal entry of the rental to debit the A/R account and credit your income account. This way, you'll have a correct record of your profit and loss report.

To create a journal entry:

1. Go to Accountant, then Make General Journal Entries.
2. Enter a Date, and Entry No.
3. Under Account, select the "Accounts Receivable" account and type the amount in the Debit column.
4. In the next line, choose the "Income account" and enter the amount in the Credit column. You can type in a Memo your reference of what this entry is for. If you haven't created an income account for your rentals, choose Add New from the drop-down.
5. Click Save & Close.

After that, run your profit and loss report again. You might also want to check your tax professional for the correct recording of your accounts.

I've also added this awesome article about Accounts Receivable workflows in QuickBooks Desktop for your reference.

Thanks for dropping by the Community. Please know that you're always welcome to come back to this thread if you have other questions or concerns. Take care.