DocuSend QuickBooks App Advertise here    

QuickBooks Forums      

Go Back   QuickBooks Forums > QuickBooks Software Support > QuickBooks Online Forum

Thread Tools Rate Thread Display Modes
Old 07-09-2016, 06:24 PM
psandoz psandoz is offline
Registered User
Join Date: Oct 2015
Location: Houston
Posts: 6
How to handle known future payable expenses?

I have a few rental properties and am trying to improve my cash management. My bank balance looks good, but I know in a few months I have to pay insurance and tax (annually paid). How do the experienced users handle future payables, like taxes and insurance? Should I have a Tax and Insurance Payable account that collects a monthly amount from the rental income?
Reply With Quote
Old 07-10-2016, 04:28 AM
Rustler Rustler is offline
Registered User
Join Date: Feb 2008
Location: Texas - The Republic
Posts: 2,290
Having a payable account does nothing for cash flow, it does allow you to see what amount is due or will be due.

I opened another account at the bank, interest bearing, and move money from the operating bank account to savings. Then when the time comes to pay the bill, I transfer from savings to operation and pay it.
Reply With Quote
Old 07-10-2016, 08:37 AM
psandoz psandoz is offline
Registered User
Join Date: Oct 2015
Location: Houston
Posts: 6

Thanks for the note. I have been trying to come up with another way, but I think I am making it overly complicated. I'll follow your advice starting with August receipts.
Reply With Quote

Bookmark and Share
Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

All times are GMT -5. The time now is 11:34 PM.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2017, Jelsoft Enterprises Ltd.
All contents copyright (c) by AccountingUsers Inc.