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Ana_Smart
Level 1

Utility Security Deposit

Our electric company has begun applying portions of our security deposit to our monthly bills.  How do I show the bill as paid and reduce the balance of Security Deposit account.  Thank you.

Solved
Best answer April 13, 2020

Best Answers
Catherine_B
QuickBooks Team

Utility Security Deposit

Hi there, Ana_Smart. 

 

We'll create a Credit and attach it to the Bill once we're ready to pay the bill. I'll show you how:

  1. Go to the Vendor menu and click Enter Bills
  2. At the upper right, above the Credit header, select Credit
  3. Enter the vendor's information and on the Expense tab, select the Utility Security Deposit account. 
  4. Type the amount of the deposit and click Save & Close

After that, we'll pay the bill and then set the credit we just created. 

  1. Still from the Vendors menu, click Pay Bills
  2. Select the actual Bill we had and click the Set Credits button. 
  3. From the Discount and Credit window, click Credit and the credit we created. 
  4. Click Done and then Pay Selected Bills

If you're referring to something else, I'd like to know how we entered the security deposit account. 

 

Any additional information is much appreciated. Take care!

View solution in original post

3 Comments 3
Catherine_B
QuickBooks Team

Utility Security Deposit

Hi there, Ana_Smart. 

 

We'll create a Credit and attach it to the Bill once we're ready to pay the bill. I'll show you how:

  1. Go to the Vendor menu and click Enter Bills
  2. At the upper right, above the Credit header, select Credit
  3. Enter the vendor's information and on the Expense tab, select the Utility Security Deposit account. 
  4. Type the amount of the deposit and click Save & Close

After that, we'll pay the bill and then set the credit we just created. 

  1. Still from the Vendors menu, click Pay Bills
  2. Select the actual Bill we had and click the Set Credits button. 
  3. From the Discount and Credit window, click Credit and the credit we created. 
  4. Click Done and then Pay Selected Bills

If you're referring to something else, I'd like to know how we entered the security deposit account. 

 

Any additional information is much appreciated. Take care!

View solution in original post

john-pero
Community Champion

Utility Security Deposit

If you did not record the original security deposits as security deposits then what you pay is just what you pay

Ana_Smart
Level 1

Utility Security Deposit

Thank you so very much Catherine_B.  It worked wonderfully!  Because of the COVID-19 situation I was not able to get back to this until now.  Most grateful.

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