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Property Management Accounting

BZeeBZee Member Posts: 1

Good day everyone...

I am looking for some direction. How do we record rent received from a property that we are managing for client at which point we are paying out the value to the owner at the end of the month. Looking for some clarity here.

in Accounting Technical Support

Comments

  • QaisEQaisE Member Posts: 72 admin

    Hi @BZee, thanks for bringing this up in our Community! We have a couple of accounts that pertain to property management in our Accounting > Chart of Accounts page. If you look under the Assets tab in that page, you can find a section for Property, Plant, Equipment, where you can create an account to categorize your rent payments and payouts to the owner at the end of the month. You can use this account to to categorize those incoming and outgoing rent payments in your transactions page. For more information on our Chart of Accounts, you can check out this really handy help center article. Please let me know if that helps going forward!

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