Invoice including expenses (letting agent fees)

[stogra]

My letting agent is sending me a statement each month. It shows the rent collected minus agent fee = money transferred to my bank account. In Xero, I would create a sales invoice and a transaction for the expense/deduction (fee). How do I handle this in QuickFile?

[QFSteve]

Hello @stogra

Here is a similar thread from the forum which may help.

Ltd Company for Property - Agent Fees from 1st Rent

Hi, I have a Ltd company purely for purchasing residential property and then letting out. We manage the properties ourselves but we have used local Letting agents to market and find tenants. They then charge our company a one off fee for this service. The Letting agent takes the first month rent from the tenant, and removes their one off fee. The problem I am I having is trying to correctly tag this on the Quickfile system. I have made a purchase for the Letting agent fees for this property …

[stogra]

@QFSteve

ar thread from the forum whic

Thanks @QFSteve! I can’t find ‘6050 Property management’ listed as one of the categories (after clicking the cog) when adding an invoice with a ‘negative amount’ as suggested by JamesWhitelegg in the thread you referenced.

[QFSteve]

Hello @stogra

If it is not enabled

• Go into Reports > Chart of accounts
• Click Options > Settings next to 6050
• Check the box shown in the example image below