Setup Customers and Vendor
Rental income details
Anish has rental income. Anish has another building next to his company and he has rented it out to "Guru Prasad". He received Rs 25000/Month as rent on the building
Step1: Journal Entry
Create a Vendor/Supplier "Guru Prasad"
Create a "Journal"
entry in the month end.
- Debit "Guru Prasad"
- Credit "Rental Income"
Step 2: Receipt
Later, Anish receives the Cheque from "Guru Prasad".
Click on "Payment" menu and then click on "New Receipt"
Now, Anish looks at the "Trial Balance"
. Drill down on the "Bank A/C"
and "Rental Income"