Splitting Rent Payments
set up quicken rentals for paying rent. my tenant pays half and goverment pays the other half ?
how do i set that up as one or two?
Answers
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I'd be inclined to record both halves into a temporary "holding" (asset or banking type account) and then record the full amount from there into the Rental register.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
In Quicken, Rent Center likes to handle one tenant as the only one who pays rent for this apartment. You can see this by looking at the specialized Scheduled Reminder that is created for recording the rent payment: Full amount due, categorized to Rent Received.
How about changing the rental property to multi-unit and setting up one unit (Apt. 1) for the tenant, "John Doe" at half of the rent due. Set up a 2nd unit (Apt. 1A), tenant name "John Doe, Govt. pmt", at half the rent due.
Record each of these reminder transactions when the tenant and the govt. pays their share.0
