How to record a Security Deposit for a rental property?
I am very new to Quickbooks and book keeping. I am using Quickbooks online. I have one rental property. When I get a security deposit where do I record it? If all goes well the deposit will be returned in two weeks after the property is rented.
How to record a Security Deposit for a rental property?
Security deposits are Other Current Liability. To be returning this in 2 weeks you must have short term weekly vacation rentals. Residential rentals landlords hold deposits until tenant moves
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