Re: Recording tenant security deposit payments received
Yes, the only way is to enter a deposit with a liability account. And I’d be glad to help you with this.
It’s just the same thing when you’re paying your liability expenses. Here’s how:
- Click the Plus (+) icon
- Choose Bank Deposit.
- Select the Bank account under Account.
- In the Add funds to this deposit section, fill out the information.
- Under the Account column, select a liability account.
- Enter the Payment Method and the Amount.
- Click Save and close.
I’ve got you an article to read on for your reference: How to Record Deposits.
If you have other questions about recording your deposit transactions, leave me a comment. I’ll be right here to answer them.