How to translate net PM distribution into rental income and management fee

The rent I receive for a property is $850 and the management fee is $68. I receive a bank wire from the property management company for $782.

Should I do Rent Income $850 and then split it into a Management Expense of $68?

@ehaug87 I would do it as you described, yes. You want to see the total gross rent ($850) on the books, and then the PM fee ($68) as a separate expense.