FAQ: Rent Payments, Reminders & Receipts
The Rent Center and
Receiving/Entering Rental Payments
The “Rent Center” in Quicken manages income and expenses for your rental properties. You can view rent details, due dates, late fees, tenant information, and the status of a unit or property. If you have several rental properties, Quicken can track the income and expenses for each.
Quicken can enter one payment, per month, per Tenant through the Rent Center.
For example, if a rent payment transaction is entered for the month of January, Quicken will automatically advance the Rent Center Calendar and Amount Due to February.
Once a payment has been entered and Quicken advances to the next month, the calendar cannot be reset to a prior month. If a transaction is deleted or a mistake made when entering the payment, the tenant will need to be deleted and recreated in Quicken to reset the schedule, or restore a back-up copy of the file from prior to when the mistake occurred.
To enter a Rent Payment in Quicken
1. Go to the Rental Property Tab > Rent Center (if not already selected).
2. Click the “Enter” link to the right of the Tenants name or go to the Add Transactions menu > Enter Rent.
3. In the Enter Rent dialogue window, select the Property and Quicken will automatically fill in the Tenant’s name, date, and deposit account.
4. A Memo or Payment Method can be manually added, if you wish, and when ready click “Add”
(If you would like to send a Rent Receipt to the Tenant, check the “Create rent receipt” box in the lower left corner)
The window will close and, if selected the Rent Receipt form will open, update or add information as needed, then select to email or save the receipt. (If not emailing the receipt, select to Save)
The transaction is then recorded in the register for the Rental Income account created previously.
The Rent Center marks that month as paid for the tenant and advances to the next month’s amount and due date.