Re: How to handle periodic cash reciepts vs. non-periodic accounts payable?

[John Hasler <..hidden..>]

Richard Ellis writes:
> If they pay their rent on Oct 1 for the month of October, and then
> suddenly decide to move out at 12:01am Oct 2 (assuming no lease clauses
> that would preclude this) then I would return to them the amount of rent
> paid from Oct 2 through Oct 31.

You could, but under most rental contracts "unused" rent is not refundable.

> Incoming rents are received into an AR liabilities account, with the
> payments linked to the customer (tenant) for which they are associated.

For a small business I wouldn't bother.  After all, as long as the payments
are monthly the payment and the delivery of the service are complete within
one accounting period.  Might be different if payments were made annually or
you were dealing with thousands of rentals.
-- 
John Hasler 
..hidden..
Elmwood, WI USA