How to Enter Rents Received in QuickBooks
By Nick Flegg
Recording your received rent payments in QuickBooks allows you to keep on top of your finances, even when you have multiple sources to worry about. QuickBooks keeps a running balance for each of your customers, ensuring you never lose track of your incomings and outgoings. QuickBooks allows you the control to record rent by property and assess late fees. The program can even memorize transactions, keeping your business running as smoothly as possible.
Recording Rent Received
Open QuickBooks and click the "Customer:Job List" option, found in the "Lists" menu.
Select the name of the person you intend to charge. Click the "Enter Statement Charges" option, found in the "Activities" menu. The information for that customer will be displayed on the screen.
Select the empty entry at the end of the register.
Open the "Item" drop-down menu, and choose the "Rent" option. Enter the amount of rent paid in the "Rate" field.
Open the "Account" drop-down menu and select the "Accounts Receivable" option.
Open the "Class" drop-down menu and select the correct property. Insert the amount charged and the due date.
Click the "Record" option to complete the entry.
Receive Rent Payment by Property
Open QuickBooks. Select the "Receive Payments" option, found in the "Customers" menu.
Open the "Account" drop-down menu, and select the "Accounts Receivable" option.
Open the "Customer:Job:" drop-down menu, and select the appropriate tenant.
Enter the amount of rent received.
Select the "Group with Other Undeposited Funds" option to enter multiple rent payments.
Open the "Edit" menu and choose the "Memorize Statement Charge" in order to memorize the transaction.
Print a hard copy of the statement to keep your records in order.
Nick Richards has contributed to various online and print publications, specializing in the field of technology. He is an Apple-certified professional and holds a master's degree in post-production editing from the University of Bournemouth.