On 11/22/2020 3:29 AM, Tony Vanson wrote:
I anticipate renting a property for 1 month and will pay the rental up front plus a security deposit amount which will be returned at the finish of the rental period. I am totally in the dark how to approach this. Do I need some kind of split? The rental expense is a straight forward expense, but how do I input the security deposit - I tried it as an asset but that didn't work and doesn't seem right. Various other things i tried usually came up with an Imbalance entry.
It would be a split transaction, and yes, the "rental deposit" is an escrow account, an asset. It is technically owed to you by the landlord.
It is easiest to enter slits (one sided splits) from the account which will have the largest amount. In this case, would likely be the bank account from which you wrote the check for month's rent plus deposit. You put that amount in, then hit "split". You then change the debit amount to the amount of rent and specify the account "rental expense". You then change the account of the remaining debit from Imbalance to "security deposit" << easiest if you have created this account first >>. All should then be in balance.
Michael D Novack _______________________________________________ gnucash-user mailing list gnucash-user@gnucash.org To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
