Thanks for that Michael. I had come very close to the same process but the Imbalance had me tossed. Cheers
<https://www.avast.com/sig-email?utm_medium=email&utm_source=link&utm_campaign=sig-email&utm_content=webmail> Virus-free. www.avast.com <https://www.avast.com/sig-email?utm_medium=email&utm_source=link&utm_campaign=sig-email&utm_content=webmail> <#DAB4FAD8-2DD7-40BB-A1B8-4E2AA1F9FDF2> On Sun, Nov 22, 2020 at 8:54 PM Michael or Penny Novack < [email protected]> wrote: > On 11/22/2020 3:29 AM, Tony Vanson wrote: > > > > > 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. > > > It would be a split transaction, and yes, the "rental deposit" is an > escrow account, an asset. It is technically owed to you by the landlord. > > It is easiest to enter slits (one sided splits) from the account which > will have the largest amount. In this case, would likely be the bank > account from which you wrote the check for month's rent plus deposit. > You put that amount in, then hit "split". You then change the debit > amount to the amount of rent and specify the account "rental expense". > You then change the account of the remaining debit from Imbalance to > "security deposit" << easiest if you have created this account first >>. > All should then be in balance. > > Michael D Novack > > _______________________________________________ > gnucash-user mailing list > [email protected] > To update your subscription preferences or to unsubscribe: > https://lists.gnucash.org/mailman/listinfo/gnucash-user > If you are using Nabble or Gmane, please see > https://wiki.gnucash.org/wiki/Mailing_Lists for more information. > ----- > Please remember to CC this list on all your replies. > You can do this by using Reply-To-List or Reply-All. > -- *Tony Vanson* *The older I get,* *the better I was* _______________________________________________ gnucash-user mailing list [email protected] To update your subscription preferences or to unsubscribe: https://lists.gnucash.org/mailman/listinfo/gnucash-user If you are using Nabble or Gmane, please see https://wiki.gnucash.org/wiki/Mailing_Lists for more information. ----- Please remember to CC this list on all your replies. You can do this by using Reply-To-List or Reply-All.
