Question
What type of Account to enter
We are a venue space company for customers to rent out for their events. Our Landlord receives a percentage of the venue rental income we receive from customers. We have other sources of income but they only receive a portion of our venue income. In the past we have just written them a check of the percentage at the end of the year and put it to "rent expense". However, I want to start tracking it more clearly, per event. But I am not sure how to add this account in quickbooks desktop. Would it be an expense account or a liability? I want it to hit the P&L so it hits our Net Income. Sorry - this is just a bit out of my wheelhouse. I appreciate any input.