converting liabilities

[Mike or Penny Novack]

On 9/29/2016 1:28 PM, David T. via gnucash-user wrote:
> Greg,
>
> Of course you can ask accounting questions here. I think Michael’s point is that how you handle this in GnuCash is dependent on several larger accounting issues, for which he/we cannot offer definitive answers.............

> Saying that, here is my take on his comments. Setting aside option (c) since it is likely not legal,....
>
There was a reason why I had that option (c) there. Those of us who have 
rented apartments know that this is NOT uncommon. For example, the 
landlord might say was not returning the deposit because there were 
repairs that had to be made but unwilling or unable to provide receipts 
demonstrating that << see option (a) >> To be fair about this, the 
"right thing to do" could be onerous. Let's say the tenant turned in 
keys and left without waiting for inspection, return of deposit. Left no 
address where could be reached. Well in MY jurisdiction, you'd have to 
keep that liability alive for seven years after which should turn over 
the state's dept of excheat (confiscates unclaimed funds). However how 
this matter would be dealt with in PRACTICAL terms (what most people 
would do) quite another matter. But I can't (shouldn't) tell you that,  
how to "disappear" it into the books.

But yes, the reason I said "not gnucash" was that the situation hadn't 
gotten well enough defined.  Sort of like somebody asking "I received 
some money, how do I enter that in gnucash?"  If/when you tell us WHY 
you are keeping the deposit we might be able to give accounting and 
gnucash advice.

Michael