Posting Tenant rent payments

We can record rent payments in QuickBooks Desktop using Receive Payments if you created an invoice, or Sales Receipt if you're recording the payment immediately, and place them into Undeposited Funds for later deposit. Follow the steps below:

For Receive Payment:

1. Navigate to Customers, then Receive Payments.
2. Choose your tenant in the Received From dropdown.
3. Enter the amount in the Payment Amount box and the Date you received the payment.
4. Select the correct Invoice and the correct payment method.
5. Select Save and close or Save and new.

For a sales receipt, follow the steps from the video in this article: Deposit payments into the Undeposited Funds account in QuickBooks Desktop.  

Once you click Save, QuickBooks automatically deposits it into an account called “Undeposited Funds” as long as you checked the Use Undeposited Funds as a default deposit account in your Payments settings. Here's how to find out if you checked it:

1. Head to Edit, then Preferences.
2. Select Payments.
3. In Company Preferences, make sure the box "Use Undeposited Funds as a default deposit account" is checked.

After entering all 20 tenant payments for the period, go to the Banking menu to create separate deposits instead of one 20-line sheet. Here's how:

1. Navigate to the Banking menu, then select Make Deposits.
2. In the Payments to Deposit window, check off only the tenant payments you want in this particular deposit.
3. Select Ok to open the Make Deposits form and review the details.
4. Click Save & Close.
5. Repeat the process from step 1 for any remaining groups of tenant payments.

Please let us know what else we can help you with by leaving a Reply below.