[GNC] How to treat accommodation security deposit

[Geoff]

Hi Tony

I'm not an accountant, but I would treat it as an asset thus:

Payment
Assets:Bank: -1,600
Assets:Bond: +1,000
Expenses:Rent: +600

Refund
Assets:Bank: +1,000
Assets:Bond: -1,000

The first transaction (Payment) is a "split" - it has 3 legs.

Regards

Geoff
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On 22/11/2020 7:29 pm, Tony Vanson wrote:
> Hi all,
> Using Windows 10 Home
> GC 4.2
> 
> I anticipate renting a property for 1 month and will pay the rental up
> front plus a security deposit amount which will be returned at the finish
> of the rental period. I am totally in the dark how to approach this.
> Do I need some kind of split? The rental expense is a straight forward
> expense, but how do I input the security deposit - I tried it as an asset
> but that didn't work and doesn't seem right. Various other things i tried
> usually came up with an Imbalance entry.
> I would really appreciate some guidance on this.
> Cheers
>