[GNC] GnuCash for a Letting Agency (holding client money)

[David Cousens]

Oli,

There is one other aspect we haven't touched on. When you are collecting
cash directly from tenants/customers  you may have cash which you have
collected which is not yet deposited at the bank.  Rather then recording the
cash payments directly into your Bank cheque account it is a common practice
to record the undpeosited payments to an

Asset:Bank:Undeposited Funds

account in the first instance and then record the transfer to your cheque
account when the funds are actually deposited into your account,
particularly if there is any significant delay in depositing them. Becoming
less of an issue with direct online crediting these days but here you can
have clearance times into your bank account to consider although these are
now also getting so short that they are unlikely to be generally a problem.

David Cousens



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David Cousens
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