security deposits

[Diann]

I don't know whether this fits into your business set up or not.  In our law
firm, we have to have a Trust account.  The trust account is for use with
client's money to pay for court fees, or any other type of cost related to
his/her case.  I set up a separate bank account under current assets, and in
the liability accounts, another was set up entitled "Trust Funds Owed",
because trust funds are not really the firm's money.  Deposits are posted to
the asset account and to the liability account, as are withdrawals.  Just an
idea....  

Diann I. Hayes
Legal Assistant
Horne Law Firm, PLLC
2315 Market Street
Wilmington, NC 28403
Tel:  910.254.7901   Fax: 910.254.7903
 
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-----Original Message-----
From: gnucash-user-bounces+dhayes=hornelaw.us at gnucash.org
[mailto:gnucash-user-bounces+dhayes=hornelaw.us at gnucash.org] On Behalf Of
David T.
Sent: Tuesday, March 29, 2011 8:38 PM
To: gnucash-user at lists.gnucash.org; scar
Subject: Re: security deposits

I am out of my depth here, but shouldn't this go into a Liability account?
After all, it's not really your money, and technically, you owe it to them.

I am not sure about invoicing, though.

David

--- On Tue, 3/29/11, scar <scar at drigon.com> wrote:

> From: scar <scar at drigon.com>
> Subject: security deposits
> To: gnucash-user at lists.gnucash.org
> Date: Tuesday, March 29, 2011, 1:54 PM
> -----BEGIN PGP SIGNED MESSAGE-----
> Hash: SHA256
> 
> i am wondering how i can handle security deposits with
> gnucash.  my
> business basically operates off of rental income.  so
> far, when i have a
> new customer, i enter a security deposit into their first
> invoice along
> with the first month's rent.
> 
> now, after a tenant has checked out, i want to refund the
> security
> deposit.  i thought i could just generate a new
> invoice with a negative
> amount to signify a refund, but gnucash doesn't allow
> this.  i would
> like the refunded security deposit to show up in the
> customer report, so
> i thought an invoice would be necessary.  what's the
> best way to do
> this?  thanks
> 
> 
> 
> -----BEGIN PGP SIGNATURE-----
> 
> iEYEAREIAAYFAk2SRwMACgkQXhfCJNu98qDspACfejqdq+ztcz4E/8u8yiM0JmjF
> 1AkAn0YmO2GXi4eTPOLC8VEtltyduRae
> =DTzx
> -----END PGP SIGNATURE-----
> 
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