If you haven’t already, be sure and read How To Account For The Security Deposit to learn about what to do when you receive it. This article and video deals with how to record the return of the security deposit in QuickBooks when someone moves out and you have to return the security deposit.
Last week’s web cast went over how to account for a security deposit received. This is a follow up to that web cast in which we go over how to account for the return of the security deposit, particularly where you have to withhold monies to cover for damages. We also discuss the issue of properly formatted financial statements. When you pay a company like ours to get it done “right”, you save money because you are able to get that line of credit at a better rate or become more profitable because of your ability to better analyze your business, what is working, and what isn’t.
We also discuss how we are able to work with companies to provide a much higher level of service compared with what you get with your average bookkeeper. If you want financial statements properly formatted so you can get financing with your bank, you want to make sure that you hire someone like us who knows more than just how to post a check or bill and what account it goes to. You want someone who understands QuickBooks and accounting together such that you get the best result in terms of financial statement presentation.
If you want access to my Book In A Blog on Accounting For Real Estate with everything you need in short step by step videos, visit www.RealEstateAccountingWithQuickBooks.com and sign up today!
Please enjoy the video tutorial
