If I receive more money from the tenant than the monthly rent charges, the overpayment wouldn't show on the report (cash basis) and if I apply it to the following month invoice, it shows as the money was received next month and that creats discrepancies to see how much money came in and how much was spent. How can I fix it? Thank You
The overpayment is not considered revenue until it is applied to the next months invoice. Currently I would expect it is a negative receivable.
QuickBooks is handling the accounting correctly since you wouldn't show this overpayment as "earned" in the first month.
Please mark this answer as solved or post additional questions. Thanks so much!!!
Laura Madeira
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Unfortunately, it's not good for me as my main purpose is to see how much money is coming in and out. If I cannot see it in the month it was "earned" but the following month, it causes a lot of discrepancies. What can I do to see money the time it comes?
