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

[Adrien Monteleone]

I’ll add that this type of account is also useful for paper checks which have not yet been deposited, not just cash.

Regards,
Adrien

> On Feb 23, 2019, at 8:33 PM, David Cousens <davidcousens at bigpond.com> wrote:
> 
> 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