Oli, For the situation where you have to bill a tenant you may want to look at the invoicing features of the business features https://www.gnucash.org/docs/v3/C/gnucash-help/chapter_busnss.html. Using these features is described in the tutorial guide here https://www.gnucash.org/docs/v3/C/gnucash-guide/chapter_bus_features.html. These is also information in the wiki here https://wiki.gnucash.org/wiki/Business_Features_Issues.
These allows you to issue an invoice to the tenant and then record the payment against the invoice when the tenant pays the rent and outstanding charges. The invoice raises an entry against an Account Receivable account. The Business->Customer->New Invoice will create the following transaction (acccount names are indicative only) which records that the tenant owes you money and that you will receive that amount in income. You will be prompted to create a customer record during this process if the customer is anew customer Tot Invoice Tot Payment Asset:Accounts Receivable 80 records the tenant owes you 80 Income:Tenant Services 80 records you have earned 80 lets assume as you indicated that the tenant then pays this with his next rent payment using the amounts you indicated earlier You can use the Business->Customer->Process payment and select the customer you created above. This will display any outstanding invoices for that customer and you would select the above invoice to pay. In this dialog you will select the transfer account, i.e. the account that the money has been paid into by the tenant, i.e. Asset:Bank:Cheque. This will display the amount owing for the invoice by default but you can replace that with the total payment and will open the register for the Accounts Receivable account. The first two entries should be created by default. You can create the next two lines by using the tab key skip through fields to open a new line and then select the libility account and enter the amount you will owe to the owner. Again use the tab key to skip fields to open the next line and select the income account for the amount you receive from the payment as fees. Tot Invoice Tot Payment Asset:Bank:Cheque 1080 records the tenant has paid you 1080 Asset:Accounts Receivable 80 records that the tenant has paid 80 Liability: Rent Collected 900 records that the tenant has paid 900 which belongs to the owner Income:Rental Fees 100 records the fess you are paid for collecting rent At some point you will pay the owner the collected rent. You would record this as follows: Deposit Withdrawal Asset:Bank:Cheque 900 you paid money to the owner out of your bank account Liability:Rent Collected 900 and reduced your liabilty to the owner. Similarly you can treat the owners as customers also when you provide them with services and invoice them for those services in the same manner as above. If they don't pay these invoices directly but you pay them from the collected rent you could make the payments by reducing the Liability: Rent Collected by a deposit of the amount of the service and making the payment to the Asset:Accounts Receivable by slecting the accounts as follows in the Business->Customer->Process Payment dialog. Decrease Increase Liability: Rent Collected xxx Asset:Accounts Receivable xxx A CPA is a Charted Practising Accountant or a Certified Practising Accountant, i.e. an accounting professional who will have knowledge of accounting practice and business legislation in the legal jurisdiction in which you carry out your business and can advise you on what records you need to keep, account heirarchies which are appropriate, any reporting requirements etc. If you can find a good one they are worth their weight in gold. If you are setting up a business you really need good legal and accounting advice if you are not familiar with the requirements. Any advice you may get here is generic and illustrative only and about how to use GnuCash not how to do accounting or how to meet any legal requirements in running a business. It may or may not be exactly relevant to your situation and jurisdiction. David Cousens ----- David Cousens -- Sent from: http://gnucash.1415818.n4.nabble.com/GnuCash-User-f1415819.html _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.