I raised an invoice in QB for Rental income. Rent was subsequently paid by customer but now appears in Debtor Control account rather than Rental Income. How do I correct?

Hello there, accounts578. I can show you how to assign the item to the correct income account.

To verify your product, you can check if it's been opted for rental income. If not, we can correct the income account of your rental item (product or service item) in QuickBooks Online.

Here's how:

1. Go to Sales. Then, select Products & services.
2. Look for the product or services.
3. Under the Action column, click Edit.
4. Click the dropdown arrow under the Income account in the Inventory field.
5. Choose the appropriate account. Then, click Save and close.

After updating your product, you can proceed to update your invoice.

Here's how:

1. Go to Sales. Then select Invoices.
2. Look for the invoice, then select the invoice.
3. Click Edit under the Action column.
4. Under Product/services, choose a different item.
5. Click Save and close. Then click the Edit again.
6. Select the correct product/service, then click Save and close to update the invoice.

After updating, you can check if the payment shows under Rental income.

Furthermore, you can proceed in categorizing and matching your transactions after recording your payment in QBO.

Leave a comment or post it in the Community if you still have concerns about recording your payments. I'm always here to help you. Take care.