Rental properties ? I have 3 properties with a property manager.

gchalfant

Manager collects the rents and pays all the expenses. He deposits the net income each month into my ck acct, one deposit for all properties. my goal is to show total income and expenses for each property monthly. I change and split the bank deposit then add an additional income deposit transaction for each property and offset that additional income with expense transactions. the rent center tab does not display these transactions properly it creates aadditional property lines. Also each update for this ck'ing account gives me CC-800 error. I do the process given to remove and add the acct again. each time i loose bank acct history transactions. I spent 2 hrs with Quicken suport and no resolve. I want to show total income and expenses for each rental any ideas?

NotACPA

Did you download the deposit before you recorded it in Q?

Because, normally, the downloaded txn should have "Matched" the input txn and no duplicate.

In your case, yes you need to delete the downloaded txn.

NotACPA

Don't use the Deposit to record income and expenses. Enter them directly for each property then record the NET, from each individual property, as going into a "Holding" account, I call mine "Undeposited Checks".

Lastly, record a transfer that's the sum of the 3 Net amounts into your checking acct.Use TAGS to distinguish the properties from each other.

gchalfant

Question For NotACPA

I hope I'm carrying on the conversation the right way? But after i transfer my net income from "undeposited cks" to my cking acct do i delete the original deposit transaction uploaded from my bank so i don't have double deposits. I've done this (deleted the original upload deposit) and Quicken on updating ck acct the next time removes my transfer deposit and does not update the original deposit from my prop manager. does the status of the transfer to cking matter? your thoughts

NotACPA

Did you download the deposit before you recorded it in Q?

Because, normally, the downloaded txn should have "Matched" the input txn and no duplicate.

In your case, yes you need to delete the downloaded txn.

gchalfant

I’m using PNC bank. I think part of my issues are being caused by the new different format for uploading txn. Other members say might take 30-60 days before back to normal. Thx for helping