QB Issue Resolution:

I’m here to share some more insights and answer your inquiries about property management and repair cost.

 

  1. What you’ve stated is already the best approach in setting up the rental accounts and entering recording. For the type of account that you need to select and use, I advise reaching out to your accountant. He/she could guide you which option to take based on your recording practice and business needs.
  2. As long as your recordings are correct and you’re selecting the right account (A/R for customers, A/P for vendors), you’re good to go. As a suggestion, you can pull up the Balance Sheet reports to verify the posting accounts.
  3. Since the negative amount on the invoice is an expense, it will automatically show on the Profit and Loss report. The positive amounts are not showing because those items are not yet paid.

Resolution for Issue 'Landlord – Deduct property management and repair cost?' available: Yes (Solved).
Source: Intuit Community forum.

Landlord – Deduct property management and repair cost?: 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.

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