QuickBooks Team

Reports and accounting

Hi there, Jeanine. 

 

Welcome to the Community. Since the property taxes are paid by the lender and be deducted from the rental fee they paid. We can create a Service item. From there, change the income account to Expense (Property Tax). Then we can utilize it as a Credit Memo so the rental balance to be paid by the lender will be deducted.    

 

 

To learn more on how to give a credit memo to your customer, please check this out: Record a credit memo or refund in QuickBooks Desktop.  

 

For your additional reference about credit memo and QuickBooks Desktop, you can check the following articles:   

 

 

Please feel free post again or leave a comment should you need anything else. I'll be happy to answer them. Have a great day!