If I waive my tenants rent one month for work he did for us how may I record this? The rent is $500.00.

Thank you.  I do see a bank account called " cash on hand" that came with the program but it will not allow me to edit the name.  You're right I will have to create a new one.

I just tried to create a new bank account under "banks" then below is a section called "tax form section" with options to choose.  Not sure which one to choose.  My choices are cash on hand, checking, money market, rents held in trust, savings, trust. I have to choose one to create this bank account.

Can someone help me create a clearing account?  I'm not able to edit an account that has not be used yet.

 The tax form section, I do not know which one to choose. It says 'cash on hand'

res@finisroadrvp 

Create a new bank account and choose savings or checking for the tax form section.  Since this account will never carry a balance, it’s not important which tax form section you choose. 

When I do receive payment what form of payment do I use??

res@finisroadrvp 

Also doesn’t matter since no actual payment is received.  Just use cash. 

Thank you so much.  This helps a lot.

Hello Rainflurry,

I have reviewed the solution you’ve shared and it's correct and accurate. Thank you for sharing your inputs to help address the issue.

We love to see members supporting one another! Have a great day.