Security Deposits Receivable
Overview Last Updated:
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The following table gives an overview of how the system debits (D) and credits (C) the various accounts as each type of security deposits receivable transaction takes place.
These transactions may be done at any time, and in any order. The order shown here is just typical.
At any time, however mostly at move out, the operator may refund or forfeit all or part of the security deposit.
In rare cases, it the tenant moves out while there is still a security deposit receivable, the operator must create a transaction to reduce the SD receivable.
|
Function |
Transaction
Type |
Purpose |
1191 SD Asset Account |
1131 SD Accounts Receivable |
1600
Deposits Receivable |
5940 Forfeited
tenant security deposits |
2191
Security Deposit Liability |
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|
Charge the full security deposit (at move in) |
SDOAC |
SD Charge |
|
|
D |
|
|
C |
|
|
|
|
|
Receive Security Deposit Payment (anytime) |
SDOAP |
Chk: xxxxxxxx Thank you |
D |
|
|
C |
|
|
|
|
|
|
|
Transfer to Liability |
|
|
|
|
D |
|
|
|
|
C |
||
|
Reduce SD Receivable |
SDRR |
Reduce SD Receivable |
|
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|
C |
D |
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|
|
|
Close tenant account |
Refund Security Deposit |
|
C |
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|
|
|
D |
|
|
Forfeit SD
(anytime but usually at move out) |
Close tenant account |
Forfeit Security Deposit |
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C |
D |
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