In this QuickBooks instruction training tutorial, you will learn how to record receiving rent payments from tenants. They pay before they stay in the apartment, house or unit (usually). Since they pay before they stay, the money you receive, as the rental property owner, is unearned income at the moment that they pay. The landlord does not earn the rent until the tenant stays in the building or living quarters on the last day that the tenant paid for. At that moment the unearned rent becomes rental income earned. The tenant’s balance also changes, and you can see that on the tenant QuickBooks report. The total balance of all tenants is equal to the “unearned rent” in the chart of accounts. This method for landlords will work perfectly. A simple accountant adjustment is needed to fix the category of unearned rent, only if you need to report financial statements. Until then, the numbers in all reports reflect exactly what the title of the reports and names of the accounts suggests. This simple “work around” method makes QuickBooks better for rental property management than any other real estate accounting software.
It will describe the unique challenges that landlords have that are different from the way a normal company would use QuickBooks.
This QuickBooks YouTube Playlist will prove to all students studying learning QuickBooks, that QuickBooks desktop and QuickBooks online are better for doing bookkeeping for rental properties and property management companies than any other software; including software that is specific to real estate rentals and properties managed by property management companies. This play list will have a video for every possible transaction type that a landlords could encounter when using QuickBooks to keep financial records of tenant’s deposits, tenant’s rent payments and rent invoices as well as real estate financial statement accuracy.

The playlist to set up this file is here:Learn QuickBooks set up landlord file from the beginning
   • Introduction To File Set Up  QuickBo...  

The Full Main QuickBooks Landlords And property management playlist is here:

   • QUICKBOOKS FOR LANDLORDS  Set up and...  

Learn QuickBooks ADVANCED landlord and property management issues.

   • Recording Monthly Mortgage Payments I...  


QuickBooks Online For Lanlords Full Playlist is here:
   • QuickBooks Online For Landlords Neede...  


You can purchase the whole course and own these videos forever if you go to quickbooksforlandlords.net. The QuickBooks online and QuickBooks Macintosh versions of the course are also available there.

Subscribe for more videos: http://bit.ly/thequickbooksdude

➡Follow us on social media:

  / certifiedquickbookstraining  

  / quickbooksforlandlords  

Mark Smolen is a certified instructor and the creator of the QuickBooks Instructional YouTube Channel and Website.

➡Get In Touch Today Have a question or need help with your QuickBooks Instructional Course?

Contact Mark directly. https://marksmolen.com https://quickbooksforlandlords.net
#quickbooksforlandlords #quickbookstenantpayment
#quickbooksunearnrent