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.

Hi guys, does anyone know if this can be automated if you have a propertyware linked account? For me is currently double counting the income (let’s say I have $1000 rent income with $100 management fee: I see the 1000 income into the PM propertyware account, and a negative $100 in the PM propertyware account, but then I see again another $900 income in my bank account, so it counts it as if the total income is 1900…). How can this be done properly in an automated fashion? thanks for your help!

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