Entering letting amounts

Support
1

Hi We would like to record money received from our letting agent on the Landlord part of Quickfile with no bank feed ,only amount received as nett amount and for it not to carry over to my business records .it will only be used for accountant to see money from lettings for MTD, what method should i use to record these amounts ,i have set up the tenants details ready .
Regards Laurence

2

Hello @vickery

Please see the articles listed below

Bookkeeping for Landlords - Recording Letting Agent Statements and Fees (Standard Method)

Bookkeeping for Landlords - Recording Letting Agent Statement and Fees (Alternative Method)

3

Hi
Thanks for reply to my landlord account question I have looked at your suggested article and after a brief lay down in a darkened room can you tell me how to leave out step 8 as there is no bank feed available for account money is being paid into .
Regards Laurence

4

Hi Steve ,
We are trying the standard method but will not be able to do final stage of tagging payment as the funds are paid into building society account with no bank feed option ,so how do we resolve this .
Regards Laurence

5

If you don’t have a feed for the account that receives the payment then you can just go to the unpaid invoice and “log payment”, select the relevant account, and it will create the pre-tagged transaction for you.

6

Bank transactions can be entered in several ways

Manually
This can be done by viewing the banking screen, viewing the account then using the create option to add transactions to the account or by viewing the invoice then using the log payment option (see Ian’s suggestion).

Importing a bank statement
This will bring in ally your bank transactions and involving downloading a statement from your banks online banking (Article)

Bank Feed
(Requires bank feed subscription)
Similar to importing a statement but involves you authorising read access to your bank so we can download transactions each day from your bank and import them directly into QuickFile for you.(Article)

7

Hi Ian
Thanks for your reply we will try this but my main concern is the invoice to be tagged must not appear in with my business purchases will the invoice only be recorded in the landlord section if not this will mess up my vat returns for the business ,hope that makes sense .
Regards Laurence

8

Hello @vickery

The invoice is being split between sales and the management fee code

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The management fee is a business purchase and if you are vat registered to can apply the relevant vat on the invoice.