Rent is recorded twice in register

I download transactions from my bank which include deposits from my rent collection. Then when I enter my rent received in my rental properties it adds it to the register.. So I am doubling my rent collection amounts is there a way to turn it off so that when I collect rent and add a transaction it does not add to register

Best Answer

  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭
    Answer ✓
    Maybe this will help............

    What you need to use is an intermediate holding account. Set up an account and call it something like Checks Received or Undeposited Payments. Then enter the payments into it. Then when you make the deposit to your bank account you transfer the total deposit amount to the new account. That way when you download your bank transactions the deposit will match. Or you should use the holding account if you receive payments in one year (like in Dec) but don't make the deposit until the next year (like Jan.).


    You don't run to the bank each time you get a check.  So you need a holding account so you can show the income when you received it.  Then you wait until you get a bunch of checks to go to the bank.

Answers

  • JRod
    JRod Member ✭✭✭
    Check your preferences.  The downloaded transactions should not be recorded into the register until you review and accept it.  Make sure the "automatically add to.." options are not checked so they are not loaded to the register.  This will allow you to match those downloaded deposits to the manual entries you have added to the register for those rent collections and avoid adding another duplicate transaction.   Hope I am understanding your problem correctly for this to possibly help.
  • TracyL
    TracyL Member
    I understand what you are saying however I don't deposit each one separately. I own an RV storage lot so I have a 180 spots that I have to enter in period my deposit might be for $2000 there's multiple units I only charge 65A month for each unit. So I can't really match things very easily I would prefer if there was any way to shut off having the rent I enter into quicken go into the register. I hope that makes sense
  • TracyL
    TracyL Member
    Sorry I would prefer to have the rent I enter into each spot not go into the register for quicken
  • volvogirl
    volvogirl SuperUser ✭✭✭✭✭
    Answer ✓
    Maybe this will help............

    What you need to use is an intermediate holding account. Set up an account and call it something like Checks Received or Undeposited Payments. Then enter the payments into it. Then when you make the deposit to your bank account you transfer the total deposit amount to the new account. That way when you download your bank transactions the deposit will match. Or you should use the holding account if you receive payments in one year (like in Dec) but don't make the deposit until the next year (like Jan.).


    You don't run to the bank each time you get a check.  So you need a holding account so you can show the income when you received it.  Then you wait until you get a bunch of checks to go to the bank.