All Forum Posts by: Mike McGee

 Where does one select an account on the invoice? I don't see any selection for that on the invoice, only on the Receive Payments dialogue. 

 I'm not sure what you mean by "linked." Rental Income is an Income type account in the Chart of Accounts. It is not a subaccount of anything.

 I am both entering the payment and depositing the funds. Once I save the customer payment QuickBooks matches it with the downloaded transaction and saves it in my checking account registry. But it shows the account as Accounts Receivable, not Rental Income, and I can't seem to change that.

No, I don't have a negative AR. It's shows a zero balance. 

But I am creating invoices and going through Receive Payments for rent and it's still showing up as Accounts Receivable, not Rental Income. 

I purchased the QuickBooks training package from LandlordAccouting.com a while back. I've been doing everything as described in thier PDF manual, and I'm using the QuickBooks company template file they provided. They say to record rent I must first create Invoices, then Receive Payments. But this is putting the rent transactions into my checking account registry under the account "1200 Accounts Receivable."  Shouldn't it be registering in the "4100 – Rental Income" account? Nothing is showing up in that account. So when I try to see what my Rental Income for the year is, it shows nothing. That can't be right. Any suggestions?

Also, do I even need to do the create Invoices and Receive Payments steps? Seems like that would only be useful if you want to use QuickBooks as a rent roll (tracking which tenant owes what, etc). If I don't need that, couldn't I just enter the rent deposits into my checking account registry in the "4100 – Rental Income" account with the appropriate Customer:Job and Class for the given property/tenant? 

[I should add that the support forums at LandlordAccouting.com appear to be abandoned, and I got no response from my email to them.]

I'm not aware of any property management software that has leases for all 50 states and electronic signatures. I know Tenant Cloud doesn't, either. 

@Luke Hagenbach I wouldn't have expected it to. Looks like you're a real estate agent, too. Don't you have lease contracts through your state realtor association? That's what I use.

 They make money from charging for credit and background checks. Most of us have the tenants pay that anyway, so it's still free to us as landlords. 

@Mike MakkarI had the same desire to have everything in one place for tracking. Since I use QuickBooks for bookkeeping, I had planned to use QuickBooks Payments / Merchant Services for electronic rent collection. However, after signing up and going around and around with their tech help, it turns out that QuickBooks Payments doesn't work for QuickBooks for Mac! (Well, I can manually accept a credit card payment, but I can't send recurring invoices and accept ACH payments, which is what we really need.) They told me I could switch to QuickBooks Online which has email invoicing. But the QB Online version with class tracking costs $40/month, and I had just paid $200 for QuickBooks for Mac, which they told me would do what I needed! I can't imagine paying $480/year just to add electronic invoicing.

So, long story short, I decided to use Cozy for rent payments. Wow, what a slick and simple setup! Totally different experience than QuickBooks. And my tenants already have Cozy accounts since we used them for the background/credit checks, so it's an easy and natural transition. Nice!

A possibility, but I can't imagine people admitting to convictions on their application if they had been expunged from their record.