I had a tenant do some damage to my unit and the cost exceeded the security deposit.
I created an invoice that listed the damage, and applied the security deposit to that invoice. I then received a check for the remaining amount.
When I deposit it, it shows up as "Other Income." But it's not really income. I paid for the damages to be fixed, and this is reimbursement for those expenses.
How should it be treated, so it doesn't show up as "Other Income?"
Thanks in advance!
