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Over Due Rent

I searched previous posts but didn't run into the answer. I am sure this was asked before. What's the most efficient way to handle overdue rent with past due fees?
Example: Rent is received late on the 13th of the month which has accumulated $40 of late fees. Where do I log the $40 for it to be added to next months rent reminder?

Do I just adjust the next month instance reminder or is there any other way?
Maybe creating an account for late fees an assign each entry to different tenants using tags etc? I am just not sure what to do!

Answers

  • David BoaterDavid Boater Windows Beta Beta
    You may want to try a split transaction after creating a category Rental Income Late Fees. [Property A: Rental Income and Property A: Rental Income Late Fees]
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