QB Issue Resolution:
You can enter a bill for the lease payments and create recurring monthly or quarterly bills for it. Before doing so, I encourage seeking help with your accountant to know what specific category to use.
Here’s how to set up a recurring bill:
- In your QuickBooks Online, click the + New button and select Bill.
- Select the vendor from the drop-down.
- In the Category details, select the appropriate account for lease payment from the Category drop-down.
- Enter the necessary information.
- Click Make recurring at the bottom of the bill.
- Enter the Template name, then select the schedule from the Type drop-down.
- In the Create _ days in advance field, enter the number of days before the date set in the Interval section you want the bill to be created in advance.
- Designate the Interval and Start date of the recurring transaction.
- From the End drop-down, specify if you want it to end that transaction after some occurrences, by the set end date, or to not end recurring.
- Click Save template.
Here’s an article you can read for more details: How to set up a recurring bill.
You might also want to check out this article to learn more about recording lease payments: How do I properly record lease payments?
Resolution for Issue 'I’ve searched the Q&A’s regarding the proper way to record a monthly/quarterly, etc. space lease payments and I couldn’t find the best answer. I would like to record my monthly rental payments for my retail shop. Will this be entered as an expense, bill, etc? Thank you' available: Yes (Solved).
Source: Intuit Community forum.
I’ve searched the Q&A’s regarding the proper way to record a monthly/quarterly, etc. space lease payments and I couldn’t find the best answer. I would like to record my monthly rental payments for my retail shop. Will this be entered as an expense, bill, etc? Thank you: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.Support for Bill
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