USA Vacation Condo Rental Mgmt Company

Mar 29, 2012
Reaction score
Starting a small business. We collect rent $$ from the renter on behalf of the condo owner. We keep a percentage of the rent as revenue for the business and the balance is given to the condo owner after the renter checks out.

Question: Are the funds or proceeds that belong to the condo owner located on the balance sheet as a liability? What should the account be called?

Any info is much appreciated - Thx


Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads