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stpaddy9001's avatar
stpaddy9001
Contributing Cover User
4 years ago
Solved

Rental Income and Maintenance Spending

 Our Church has a rental property and each month we get a statement from the Estate agent showing what rent has been paid and deductions for any repairs Prior to MYOB changing its format it was easy ...
myob-ref-Banking
  • Tracey_H's avatar
    Tracey_H
    4 years ago

    Hi stpaddy9001 

     

    Apologies for the delay in replying. From a software perspective you could record either a Receive Money or Sales invoice and invoice payment. Allocate the total rental income to the income account and allocate the deductions as a negative amount. You can then match the transaction in bank feeds.

     

     

     

    I would recommend checking with your accountant to make sure this suits your needs.

     

    Please let me know if you need further help.

     

    If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

Tracey_H's avatar
Tracey_H
Former Staff
4 years ago

Hi stpaddy9001 

 

Apologies for the delay in replying. From a software perspective you could record either a Receive Money or Sales invoice and invoice payment. Allocate the total rental income to the income account and allocate the deductions as a negative amount. You can then match the transaction in bank feeds.

 

 

 

I would recommend checking with your accountant to make sure this suits your needs.

 

Please let me know if you need further help.

 

If my response has answered your enquiry please click "Accept as Solution" to assist other users find this information.

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