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JoesemM
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Hello Angela. Thanks for your response and detailed information regarding your concern. Let me assist you in accurately recording the payments for the correct renters in QuickBooks.

 

You can record rent from your tenants in two ways. It depends on when you receive the actual rent payment. Create an invoice if you receive payments at a later date or sales receipts if you receive their payments right away.

 

Before doing so, you must add your tenants as customers to QuickBooks. Then, you can follow the steps below to record the rent income.

 

Here's how to create an invoice:

 

  1. Go to the + New button and select Invoice.
  2. Complete the fields with the 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 the invoice/s you want to close out.
  3. Select the payment method and account to which the payment will be deposited.
  4. Click Save and close.

 

You can follow this article for detailed guidance on creating invoices in QuickBooks Online. Then, you can now record the invoice payments

 

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

 

  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.

 

I also suggest reconciling your accounts every month. This practice aids in monitoring your income and expense transactions to identify potential errors. For more details, open these links:

 

 

Feel free to ask questions about recording payments for your renters or any inquiries about QBO. Just reply below, and I'll follow up to assist you. Stay safe.

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