Security Deposits

1) Create new Chart of Account
Account Type: Long-Term Assets
Detail Type: Security Deposit
Name: Security Deposit

2) Create Bill/Expense
Line 1: Security Deposit - 225
Line 2: Utilities Expense - 26

Security Deposit will stay on your balance sheet until the deposit is received

3) When Security Deposit is received
Create Bank Deposit
Line 1: Security Deposit - 225

Hey there, HumenKIndBabyStore.

Thanks for reaching out to the Community for support. In addition to the information provided above, I recommend taking a look a this article on how to Record supplier prepayments or deposits for prepaid parts or services.

 If you have any additional questions, to ensure accuracy in your books, I recommend reaching out to an accounting professional for expert advice. They'll be able to guide you in choosing the correct transaction type as well as which accounts to affect so that your accounts can end up with the right balance. Having an accountant can be beneficial for you and your business. You can add your accountant to your books by following the steps listed here. If you don't have an accountant, you can find one who has experience using QuickBooks near you by clicking here.

If you have any other questions, feel free to reach back out.