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Question

JE Question -- Security Deposits

Forum|Forum|8 months ago
October 9, 2025
1 reply
5 views

Hello,

We moved over into QB in 2022.

At that time we put the opening account balance to Opening equity balance.

We have multiple security deposits from tenants that are not allocated (not showing up).

If we do a JE to move them to security deposits accounts what's the other account?

We don't want a referral to QB pro advisor.

Thank you.

QuickBooks Desktop

i-am-the-cosmos

Here’s the Journal Entry (JE) you can make in QuickBooks Desktop:

Account Debit ($) Credit ($)

Opening Balance Equity	XXX.XX
Tenant Security Deposits (Liability)		XXX.XX

Replace XXX.XX with the total amount of unallocated tenant security deposits.
Date the journal entry as of the original setup date in 2022 (or the earliest practical date) so it doesn't affect current-year reporting.

🧠 Note: If you're allocating deposits by tenant, you'll want to track them via sub-accounts or in a liability register (or use customer/job tracking, depending on how you set up tenants).

✅ After the JE

Your Opening Balance Equity account balance will decrease.
Your Tenant Security Deposits (Liability) account will show the correct amount owed.
Your overall balance sheet stays the same, just reclassified.

Asha Kanta Sharma