Hi,
How do i record my quarterly rent payments without it affecting my profit and loss as when i pay my rent for the quarter it takes it out of my profit and loss for that current month which makes it seem like my business is running at a loss.
Hi Kevin,
I assume your rent is paid in advance. In that case, create a new asset called 'Prepaid Rent' and allocate your payment to this account. Then each month record a General Transaction from this account to the Rent account.
Regards,
