What to do once a tenant's security deposit has been paid back

[jlee6588]

I was helped the other week on the below topic.
I have been tagging Security Deposits to the new 0151 Rent Deposit category. Then tagging the payment to the rental scheme as Something else on the list. My question is, how do I account when the Security Deposit is paid back to the tenant? This is done directly from the rental scheme to the tenant. The Security Deposit doesn’t come back into my account.

How to have a landlord and ltd company account

I have a ltd company account with QF. I now also need a landlord account which is a totally different ltd company. Do I set this up as a brand new account, or can I use the Affinity login (not sure what this does). I tried to set up as a new account, but can’t use the same email address as my current QF account. Thanks

[ian_roberts]

@jlee6588

how do I account when the Security Deposit is paid back to the tenant?

If you’ve followed the process in that thread then you don’t need to.

• when the tenant paid the deposit to you, that would have shown as a credit on 0151 (either directly, if they paid just the deposit to you and you tagged it as something not on the list, or indirectly if you did a two line invoice for the deposit plus first month rent)
• when you paid the deposit over to the protection scheme that would have created a debit on 0151

These two balanced out at the time, the deposit money was never yours to begin with.

[jlee6588]

Great thanks, I did hope this was already taken into account.