Quickbook Tenant Payments When Management Fees Have Been Deducted

[Jeremy Dugal]

Hello.  I will be using Quickbooks Desktop for my 2018 booking keeping on long term rental properties.  I am learning how to use it and practicing and am having trouble with a specific scenario.

I receive payments via deposit into a  bank account from my property manager.  He accepts payment, takes his fee, and deposits the remainder.  How do I enter this so that the tenant gets full credit for their payment while at the same time the management fee is deducted, and everything comes out in the bank register as it should so I can reconcile my account.  Thanks in advance.  

[Cathie Kovacs]

Push the received payment to Undeposited Funds. When you select it to add to a bank deposit, add a negative line item to management fee expense. Tenant credit is correct and bank deposit is also correct using this method.