Why is my utility expense report wrong?


If you notice your expense report has Tenant utilities listed the metered utilities has been input incorrectly. 

When you recieve money from a tenant it is your income/rent not your expense. 

When you write a check to the utility company that is your expense. 

Create metered utilites using a rent or income catagory for the account, not an expense. 

In the chart of accounts you should have or need to create a utility account for tenant utilites under rent or income. This is to keep track of money you collect for utilies from the teants. 

 

If you have done this in the past: 

Go to the income form for each tenant and change the account type on outstanding payments and payment history for that utility to the correct account (rent or income) 

 

 

Tags: expense, metered utilities, utilities, utility
Last update:
2018-04-28 17:56
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