Bookkeeping when outsourcing Lettings administration

[QFSteve]

Hello @David5

Here is an forum post explaining the process.

Bookkeeping for Letting Agents

If you are a Letting Agent you may wonder how best to account for the collection of rent and the remittance of the NET payments (less fees) to your landlords. This guide will cover the following points Rental income received from the tenants The deduction of management fees from the gross rent received. The payment of the net balance to your landlords. Here we will assume the landlord is the client and we will isolate all transactions for a given property to a loan type bank account. This …

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