What are reimbursements?

What are reimbursements?

Occasionally, you may overpay a bill on your property, and then get reimbursed for an over-payment in a later month. For example, you might have overpaid your electric bill by $20 in July, and then in August the electric company credited you $20 for the over-payment. In this case, you would enter the actual payment in the Utilities category in the INCOME and EXPENSES form in July, and then enter $20 in the Reimbursements category in August.

The over-payment will cancel itself out on the SCHEDULE E at the end of the year.

DATA INPUT > INCOME and EXPENSES



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