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I have set up the unearned income receive/invoice system. But it really doesn't make sense to me to track earned vs. unearned income since I'm on a cash basis accounting system. At end of year, I'm not required to report prepaid rent or unearned rent.
So what other way is there to record rent payments and security deposits?
Solved! Go to Solution.
Help is here, Raeka8.
Let me help you record rent payments and security deposits in QuickBooks Desktop (QBDT).
Since you're using a cash basis as your accounting method, you'll want to record the rental income as a sales receipt.
Here's how:
More about creating sales receipts can be found here: Create Sales Receipt.
Also, I'd still recommend consulting your accountant to ensure the accuracy of your financial reports.
I've added articles about income and expenses that you might need in your future queries: Income and Expenses.
For tips and related articles in the future about the "How Do I" steps in QuickBooks Desktop, visit our QuickBooks Community help website for reference.
Reach out to me with whatever questions you may have about recording rent income or anything QuickBooks. It's my pleasure to assist you. Have a good one.
Help is here, Raeka8.
Let me help you record rent payments and security deposits in QuickBooks Desktop (QBDT).
Since you're using a cash basis as your accounting method, you'll want to record the rental income as a sales receipt.
Here's how:
More about creating sales receipts can be found here: Create Sales Receipt.
Also, I'd still recommend consulting your accountant to ensure the accuracy of your financial reports.
I've added articles about income and expenses that you might need in your future queries: Income and Expenses.
For tips and related articles in the future about the "How Do I" steps in QuickBooks Desktop, visit our QuickBooks Community help website for reference.
Reach out to me with whatever questions you may have about recording rent income or anything QuickBooks. It's my pleasure to assist you. Have a good one.
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