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Arzini
Level 3

How do you record receipts paid for a Construction Bond?

How do you record receipt from a tenant paid for a Construction bond for his Unit? We just purchased QuickBooks Accountant 2019 and it's my first time using it. We are managing condominium association and our main income is association dues. The way I see it in this software, I have to make an item. But by doing so, I'll be making a receivable instead of Construction Bond which is a long term liability. Is there another way?

1 REPLY 1
Paulg1969
Level 4

How do you record receipts paid for a Construction Bond?

Create yourself an account for the bond as a long term liability. Then use make deposit to place the money there.

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