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    DarleneMeyers's Avatar
    DarleneMeyers Posts: 2, Reputation: 1
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    #1

    Feb 24, 2014, 12:09 PM
    Rental income account
    The company I work for owns some rental properties. Some of the employees rent from the owners and their rent is taken weekly out of their paycheck. How should we title this account in our ledgers.


    I am taking over for someone else that was previously in this position. And we are trying to retitle these accounts and getting everything straightened out. Any information would be helpful.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Feb 25, 2014, 10:45 PM
    well the income account is still rent received, the deductions from payroll will probaby be placed in a deductions clearing account, accumulated and then transerred to the income account
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