How do I record rent sale, but expenses outgoing means nothing goes into the bank account - MYOB
Hello, How do I record residential rent income and agent fees,repairs expenses outgoing when they equal each other and I do not get a payment to deposit in bank at end of month.
I would normally enter a sale for the rent and do a "payment received" against it with the money going into the bank and then a purchase for the expenses/management fee and a "pay supplier" for the amount going out of the bank. As there is no money actually going into the bank or out of the bank, how do I do that?
If I don't do the above it then doesn't show that the rent for that month has been "paid/received", it sits in the sale as if still owing. I am very new to MYOB system and not an accountant ! Thanks for any help you can give.
Any help is appreciated.