Sending invoices to collect payments from third parties and not show up as income
wolffj
Member Posts: 1
I run a property management company that pays utilities for various properties owned by third-party LLCs. The property management company creates invoices for the utilities to be paid for by the LLCs at the end of each month. The third-party LLC accounts are set up as liability accounts in order to mimic escrow accounts. Is there any way to collect payment on the utility invoices without these showing up as "income" to the property management company since they are essentially a pass-through expense?
Tagged:
0