QuickBooks How to: Posting Rent Check for Sublets

How to Post Sublet Rent Checks in QuickBooks

A reader rents a large office space in an office building and has decided to sublet unused space to other businesses. He writes a monthly rent check to the building's management company and wants to know how to post the checks he receives from the two businesses that share the space. He doesn't issue invoices in QuickBooks; the checks are just handed over to him.

There are two ways to do this, depending on whether you want to track the other businesses and their history in your sales reports and in the QuickBooks Customer Center.

To track the other businesses, create a QuickBooks item for Rent and make it a two-sided item. You can either configure both sides to post to the Rent expense (resulting in your net expense for rent appearing on the P & L) or post the income side to an Income account named Subleases. Use that item when you write the check for rent, and when you create a sales receipt to receive the rent.

If you don't want to track the other businesses as customers, you can skip the item configuration. When you receive the rent checks, use the QuickBooks Make Deposits window to enter them. Use the Rent expense account (to track net rent), or use an Income account named Subleases to track your rent and the income separately on the P & L.


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