cant reconcile transaction on rental income.

sneilu

Everytime I add either rent or a expense transaction , it adds that transaction to my bank account throwing off my numbers and doubling the totals. How do i create rents and expenses without screwing up my checking account todays. I cant change the category

LongTimeQUser

I use a Category with Sub-Categories along with tags. The sub categories may be the same as some of my regular home use categories such as "Utilities". But when used as a Sub-Category, I know it is for rent expenses. Such as:

Rental Property:Advertising
Rental Property:Deposit
Rental Property:Dining
Rental Property:Landscape
Rental Property:Utilities
Rental Property:etc.....

Then I use a "Tag" to clarify which property it is, such as an address:
1234 Name Street
567 Easy Road

Hope this helps.

volvogirl

Well what account do you want them to go to?  They have to go somewhere.  How did you pay the expenses and where do you deposit the rent payments?  Do you have a separate bank account for them?  Maybe you should set up a Cash Account for them.

LongTimeQUser

I use a Category with Sub-Categories along with tags. The sub categories may be the same as some of my regular home use categories such as "Utilities". But when used as a Sub-Category, I know it is for rent expenses. Such as:

Rental Property:Advertising
Rental Property:Deposit
Rental Property:Dining
Rental Property:Landscape
Rental Property:Utilities
Rental Property:etc.....

Then I use a "Tag" to clarify which property it is, such as an address:
1234 Name Street
567 Easy Road

Hope this helps.