How to book rental income?

am i right??? please someone help.

why u r laughing?

how to book the rent income

Hi Sanil,

Pls pass following entries

1. In Cash System

Cash / Bank Account A/c Dr.

       To Rental Income A/c (Under the head income)

2. In Accrual/ Mercantile System 

Bank Account Dr. 

      To Rental income 

And as on 31.03 You should pass one more entry for accrual of rent for the month of March

Rent Income receivable A/c 

     To Rental income 

Next month i.e in April You should netoff the Rent income receivable account with rent income actual received in April month.

Regards

Tripti R Sawant