QuickBooks bookkeeping for self-managed rentals

What we record in QuickBooks for a self-managed rental

We work from your bank transactions, leases, bills and receipts, and record rent and costs against the right property.

• Rent paid by tenants into your account matched to the property and tenancy it came from, using the reference the tenant puts on each payment
• Rent received compared with what each lease sets out, with missed, late or part payments noted so you can follow them up with the tenant
• Receipts for repairs, cleaning, gardening and safety checks photographed through the QuickBooks mobile app or forwarded by email, each then paired from the For review tab with the payment it covers
• Each property given its own class, where your QuickBooks plan includes class tracking, letting rent and running costs be reported property by property
• Bills from the council, the water authority, your strata or owners corporation and your insurer entered as they arrive, each against its property
• Loan statements recorded as the lender sets them out, using the treatment your accountant specifies, and any gap between the loan balance in QuickBooks and the statement listed for you
• Your bank accounts linked to QuickBooks through Open Banking where the bank supports it, then reconciled against their statements, explaining any gap, for example rent that is yet to clear

Businesses by main state or territory

These counts are for the ANZSIC class Residential Property Operators, which also takes in residential caravan parks and body corporate or strata corporations. Holiday houses and holiday flats are counted in the Accommodation class, so they are not included here. The ABS counts actively trading businesses, so landlords who are not counted as businesses are not in these figures.