QuickBooks Team
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Re: Recording tenant security deposit payments received

Thanks for joining the thread, @CF60.

 

You can create a journal entry to move the amount from a liability account to an invoice account. And I'll be glad to share a few more options that you may want to consider.

 

Creating a journal entry to transfer an amount between accounts is just one of the four options you have. Your other options are:

 

  • Transfer
  • Check
  • Imported Bank Transaction

Since the amount is from a liability account, you'll need to create a journal entry to transfer the amount to an invoice account. Here's how:

 

  1. Click the Plus icon.
  2. Select Journal Entry.
  3. Enter the transaction date in the Journal date field.
  4. On the first distribution line, in the Accounts field, enter the correct account to the transaction.
  5. Enter the transaction amount in the Debits or Credits column.
  6. Choose the customer.
  7. Click Save and close.

But before doing so, I still recommend seeking help from your accountant. He/she could guide you which option to take based on your recording practice and business needs.

 

You can also read these articles for the detailed steps and information:

 

That's it! If you have any other questions, feel free to comment below. We're always here to help you.