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Buy now & saveHello 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:
To receive the payment:
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:
See this article for more information: Create and send a sales receipt. Also, hereβs 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.