How to Record Security Deposit in QuickBooks Enterprise 2015, 2016 & 2017
In QuickBooks when a customer or a client applies for a order of a specific product which is more in number or the expenses are more for the product may be for the quality or the quantity a security deposit is done for keeping the customer aware of the fact that the specific amount is with the company using QuickBooks for the security purpose.
These security deposit keeps the track of the customers payments and transaction during the tenure of the business with the company using QuickBooks so that each and every pay details are been captured and monitored. If the customer is a fraud or leaves the payment pending in such cases security deposit in QuickBooks is very much productive and useful.
Benefits of Security Deposit in QuickBooks:
- A different account is created for the security deposit to keep it authentic and visible for any Vendor or User in QuickBooks.
- A prepaid expense also is eligible if the security deposit has been done or recorded in QuickBooks
- Security Deposit provides the data security by keeping the customer aware of the security deposit in QuickBooks for getting the accurate accounting safely.
- The security deposit is refunded if there are no dues seen and analyzed.
- A security deposit can always be added with the invoice just for the data scene or the refund purpose.
- For the return of QuickBooks security deposit accounting is very clear in terms of expenses or details.
- The Security deposit is referred to as the refundable deposit and is recorded for the quality purpose.
To Record Security Deposit in Quickbooks
For the recording of security deposit in Quickbooks when the account is been made with the accounting of the details of the customer or any person who is doing business in Quickbooks.
Security Deposit is generally recorded at the time of customers registration with Quickbooks and is specified to the user as this deposit is for security reason to keep it secure and authentic.The services are explained to the customers with the security deposit.
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