SalBasky
4 months agoExperienced Cover User
How to treat rent payment in bank feed
Hi Guys, I have just added a bank account to my feeds in Business Pro. This account will have rent payments come in through the bank feed. Given the rent payments will be net, how should I corre...
- 4 months ago
Hi SalBasky
Personally, I record a 'Receive Money' transaction, but have line items for all the income and expenditure so you can allocate if there is GST on each transaction.
For example: CR Rent: [income] - GST free
DR Management fees [expense] - GST
DR Council Rates [expense] - GST free
Hope this helps!