Accounts receivable on QuickBooks invoices

Accounts receivable on QuickBooks invoices

Q: I am a QuickBooks ProAdvisor and I have a client who is a property manager. The invoices are set to bill items for residential or commercial income. On top of the invoice screen, there is another drop-down set for A/R. Should we create a subaccount under Accounts Receivable on QuickBooks invoices for residential income and commercial income?

A: Accounts receivable on QuickBooks invoices are the amounts that tenants owe you or the amounts that you have invoiced and have not received payment for. Only use one Accounts Receivable account for all invoices you enter to keep the reports concise and accurate.

QuickBooks features a few accounts receivable reports to conveniently track who owes you what and from when.

Gita Faust

About the Author

Gita Faust has over 30 years of accounting experience in the real estate and property management industry, Gita Faust is more than just a real estate investor; she is also popular for her work as an accountant, consultant, mentor, speaker, QuickBooks Top ProAdvisor, QuickBooks Solution Provider, member of Intuit’s Trainer/Writer Network, and, of course, author. Gita is well-known for her exemplary leadership and advisory skills. In fact, she even helped pioneer the adaptation of QuickBooks to suit the needs of professionals in real estate and property management. To share her knowledge she has written a series of courses titled Simplified Accounting Solution, which provides step-by-step guidance for those working with QuickBooks.

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