How do I enter owner injections - rental property business?
ClarityCapital
Quicken Windows Subscription Member
Hello! I am brand new to Quicken. I have Quicken for Windows 2019 (R19.52). I tried to each out to Quicken Online Chat about this issue and the agent just abandoned the chat (sad). Maybe it was too much for them. I own rental properties. My question is "how do I properly enter owner injection transactions into my rental property account?". This transaction is consists of personal funds being transferred into the business account to cover expenses the business cannot make on its own; essentially like a loan. Quicken it appears wants to treat these like deposits, but I need a way to isolate these transactions, so that on a P&L Report, it shows up as discrete from simple rent deposits, for example. Can anyone help?
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Best Answer
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Hello ClarityCapital,
Sorry, to hear that you were unable to get this question answered by support.
It sounds like you will need to create a transfer transaction to move money from the checking account to the rental property account.
https://www.quicken.com/support/how-do-i-categorize-transfer-quicken-windows
These transactions could then be tracked by creating a tag for what they represent.
Quicken only offers the ability to designate a transaction as Income, Expense, or a Transfer.
As you are new to Quicken I would also take a look at-
https://www.quicken.com/complete-guide-getting-started-quicken-2018-windows#categorize.
Hope this helps!
-Quicken Tyka
~~~***~~~5
Answers
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Hello ClarityCapital,
Sorry, to hear that you were unable to get this question answered by support.
It sounds like you will need to create a transfer transaction to move money from the checking account to the rental property account.
https://www.quicken.com/support/how-do-i-categorize-transfer-quicken-windows
These transactions could then be tracked by creating a tag for what they represent.
Quicken only offers the ability to designate a transaction as Income, Expense, or a Transfer.
As you are new to Quicken I would also take a look at-
https://www.quicken.com/complete-guide-getting-started-quicken-2018-windows#categorize.
Hope this helps!
-Quicken Tyka
~~~***~~~5 -
When I refund part of the security deposit to a tenant and want to transfer the balance of the deposit out of the "security deposit liability" how do I post it for repairs?-1
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> @ClarityCapital said:
> Hello! I am brand new to Quicken. I have Quicken for Windows 2019 (R19.52). I tried to each out to Quicken Online Chat about this issue and the agent just abandoned the chat (sad). Maybe it was too much for them. I own rental properties. My question is "how do I properly enter owner injection transactions into my rental property account?". This transaction is consists of personal funds being transferred into the business account to cover expenses the business cannot make on its own; essentially like a loan. Quicken it appears wants to treat these like deposits, but I need a way to isolate these transactions, so that on a P&L Report, it shows up as discrete from simple rent deposits, for example. Can anyone help?
Let me see if I can help. I assume you did not want them to show up at all on your P&L Report. One way you can to that is classify the transfers to a category that you have filtered out or exclude from your P&L report.
Another way is to setup the owner's personal account as a separate Cash or other account. You would exclude this "bank"account from your P&L report. Then the money could be transferred from that account, to the property account. You might use tags to identify the transaction so you know what property each transaction was for.
I hope that helps.0
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