Keeping Track of Rent Credit in QuickBooks Online

Hey fellas. Does anyone have any guidance on keeping track of each tenant’s rent credit in QuickBooks online? I’m guessing I might have to make a class for each tenant but not sure. Any input would be greatly appreciated.

Here’s a way that’s not exactly “right” as you are dealing with credits and not dollars, but you could create a new “Service” item called Rent Credits, set up as an “Other Current Liability”, similar to a security deposit.

Let’s assume you have a lot rent of $200 and rental of the home of $200 (total $400/mo) and 50% of the POH rent is a credit.

So, each month they are billed $200 for lot rent, $100 for POH Rent (both receivables on your books) and $100 as a rent credit. You collect the cash as normal, but each month, the amount of the credit is being shown on your books in a liability account (which you may, or may not really want).

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Thanks for sharing your solution, it’s definitely an interesting approach to keep track of rent credits in QuickBook[quote=“rlp, post:2, topic:14340, full:true”]
Here’s a way that’s not exactly “right” as you are dealing with credits and not dollars, but you could create a new “Service” item called Rent Credits, set up as an “Other Current Liability”, similar to a security deposit.

Let’s assume you have a lot rent of $200 and rental of the home of $200 (total $400/mo) and 50% of the POH rent is a credit.

So, each month they are billed $200 for lot rent, $100 for POH Rent (both receivables on your books) and $100 as a rent credit. You collect the cash as normal, but each month, the amount of the credit is being shown on your books in a liability account (which you may, or may not really want).
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