# Rental Fees of house or shop

**URL:** <https://forum.manager.io/t/rental-fees-of-house-or-shop/5263>\
**Category:** Uncategorized\
**Created:** [April 5, 2016, 11:11am UTC](https://forum.manager.io/t/rental-fees-of-house-or-shop/5263 "2016-04-05T11:11:23Z")\
**Posts on this page:** 7\
**Page:** 1

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**Author:** ![yang](https://avatars.discourse-cdn.com/v4/letter/y/77aa72/32.png) [@yang](https://forum.manager.io/u/yang)\
**Post date:** [April 5, 2016, 11:11am UTC](https://forum.manager.io/t/rental-fees-of-house-or-shop/5263/1 "2016-04-05T11:11:23Z")

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Hi there,

The monthly fees for the shop / house rented for my business should be categorized under what tab?

Thanks,  
Yang

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**Author:** ![Tut](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.manager.io/tut/32/3286_2.png) [@Tut](https://forum.manager.io/u/Tut)\
**Post date:** [April 5, 2016, 12:38pm UTC](https://forum.manager.io/t/rental-fees-of-house-or-shop/5263/2 "2016-04-05T12:38:32Z")

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Whatever you wish that meets local regulations. You can use one of the default accounts that appeared when you created your business, or you can set up a new one (such as `Shop rental`) under Settings \>\> Chart of Accounts.

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**Author:** ![rully\_p](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.manager.io/rully_p/32/2503_2.png) [@rully\_p](https://forum.manager.io/u/rully_p)\
**Post date:** [April 6, 2016, 2:57am UTC](https://forum.manager.io/t/rental-fees-of-house-or-shop/5263/3 "2016-04-06T02:57:17Z")

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Hi,

Do you pay your rental in advanced or not ?

If not, just create a new account in the Expense category for Shop Rental.

If you pay the rental in advance lets say for a year for example, you need to create pre-paid Shop Rental in the Current Asset and each month do a journal entry to the shop rental expense.

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**Author:** ![Tut](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.manager.io/tut/32/3286_2.png) [@Tut](https://forum.manager.io/u/Tut)\
**Post date:** [April 6, 2016, 4:28am UTC](https://forum.manager.io/t/rental-fees-of-house-or-shop/5263/4 "2016-04-06T04:28:42Z")

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@rully_p’s advice will depend on whether you are using accrual accounting or not.

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**Author:** ![yang](https://avatars.discourse-cdn.com/v4/letter/y/77aa72/32.png) [@yang](https://forum.manager.io/u/yang)\
**Post date:** [April 6, 2016, 7:01am UTC](https://forum.manager.io/t/rental-fees-of-house-or-shop/5263/5 "2016-04-06T07:01:24Z")

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@Tut thanks for the help and info.

@rully_p no, i do not pay in advance, can i have the step to create a new account in the expense category?  
thanks for the help!

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**Author:** ![rully\_p](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.manager.io/rully_p/32/2503_2.png) [@rully\_p](https://forum.manager.io/u/rully_p)\
**Post date:** [April 6, 2016, 7:02am UTC](https://forum.manager.io/t/rental-fees-of-house-or-shop/5263/6 "2016-04-06T07:02:56Z")

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Just go to settings and select chart of accounts and just create it under expense category.

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**Author:** ![Ealfardan](https://sea1.discourse-cdn.com/flex019/user_avatar/forum.manager.io/ealfardan/32/63166_2.png) [@Ealfardan](https://forum.manager.io/u/Ealfardan)\
**Post date:** [January 18, 2023, 3:34pm UTC](https://forum.manager.io/t/rental-fees-of-house-or-shop/5263/7 "2023-01-18T15:34:01Z")

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Closed on January 18, 2023, 3:34pm UTC