How to Reconcile a Charge the Landlord has Paid you directly (QuickBooks Users)

Modified on Wed, 21 Feb 2024 at 10:58 AM

Step 1 - Receive Payment on QuickBooks

Go To QuickBooks > Banking Receive the payment using the "Add" Feature. MUST select Deposit and Creditors

Step 2 - Run a Sync with QuickBooks

How to run a Sync with QuickBooks The sync should create a Property Owner Receipt for the Landlord

Step 3 - Add Transaction

You should already have a charge against your owner. If not, add a charge against your owner (this can be "Management Fee Charge"/"Sundry Charge") How to Add Transactions How to Add Management and Agency fees Example below Your statement should now look similar to this. 

Step 4 - Remit

You can now remit the charge you raised to the owner against the Property Owner receipt. This should always leave a remittance of £0.00.

Step 5 - Run a Sync with QuickBooks

How to run a Sync with QuickBooks

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