I have two properties on rent. To manage the rent income and fees, I have setup a merchant account. My property manager transfers the nett rent by BACS to my business account. In the merchant account, I enter the gross rent, the fee and the nett rent which I tag to the entry in my business account. For one property this works fine but for the other property (this year), QF is combining both the gross and nett rents showing a large turnover in that properties P&L account. I have set the properties as ‘projects’… I just cannot resolve this. Can any QF person look into my account please.
I think I have found the cause of the error, I just need the solution.
Checking account 4904 (Rent Income) for an earlier year, only the gross rent income for the two properties display. Every entry/invoice has had a payment #SP 000xxx attributed to it.
For this year, one property has only the gross rent income displayed, every entry/invoice has had a payment #SP 000xxx attributed to it.
However for the second property, the gross rent incomes displayed have an entry/invoice and have had a payment #SP 000xxx attributed to it.
The (incorrect) nett rent invoices do not have a payment #SP 000xxx attributed to them, They display “Start taking payments …”.
What have I done wrong in that these invoices do not have a payment attributed to it and, how do I fix this?
The nett rent transactions have been correctly entered in the merchant account and transfered to the business current account that receives the BACS transfers from the property manager. However, QF did not generate a payment #SP 000xxx and attributed to these incomes.
Something very big has gone wrong with QF. On 28 July, I (apparently) removed a huge quantity of payments according to the Outstanding Invoices report. This is news to me. Please can you get technical to check the code associated with my account. This is far too big for me to be able to fix.