How To Choose Brokerage Account For Rent Payments?
jmkoch
Quicken Windows Other Member
I have rental properties.....When I collect rent, I deposit the checks into my Edward Jones LLC money market account due to having a higher interest rate. I then pay all of my bills from my Commerce Banking LLC account and transfer the money needed to cover the expenses from my Edward Jones LLC account to my Commerce banking LLC account. The problem is, when I add tenants to my list, I need to select an account in which the rent is deposited. Quicken will not allow me to choose the Edward Jones Investment LLC account, only bank accounts.
So when I manually enter the rent, it is showing up in my Commerce LLC account and is showing as uncleared. The other problem being that when I transfer money from my Edward Jones LLC to my commerce LLC, it is showing as other income.
Are there any work arounds?
Please help.
So when I manually enter the rent, it is showing up in my Commerce LLC account and is showing as uncleared. The other problem being that when I transfer money from my Edward Jones LLC to my commerce LLC, it is showing as other income.
Are there any work arounds?
Please help.
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