Hello @jlee6588
Rent deposits.
Its basically the same process as described in the landlord article. You will need to Create a new nominal code (we recommend 0151 Rent Deposits)
When your tenant pays a deposit to you, this should be tagged to the appropriate nominal code. From your bank statement view you can tag as “Something else not on the list ” and then post it directly to the Rent Deposit nominal (0151).
Splitting values for tagging
The easiest way to do this is to use a holding account.
- In the banking screen create a new bank account (call it holding account or something similar)
- Tag the rent income in your bank as a transfer to the holding account.
- Pay the invoice using this account.
- Record a Money out transaction for the rent deposit as described above.
Once the above is complete the Holding account balance will be Nil.