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Quicken Classic for Windows
Download, Add/Update Accounts (Windows)
Tracking back rent promissory note
thelockd
I need to set up tracking for a promissory note that is back rent so it is also rental income. I set it up under property & debt as a loan to someone and it is tracking correctly but the problem I have is it is not showing up as income. Is there a better way to track it?
Thank You!!!
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NotACPA
I would have set it up as an asset ... something that you own/are-owed, rather than as a loan that you owe.
Then, set the tax attributes for the account to reflect transfers out of the account (when you receive money into your checking account) as income.
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