This is for tenants whose deposits have been collected and are held in a custodial scheme prior to the setting up of your Arthur account.
Do this by following this article setting up your deposit account (QuickBooks)
In this step, we are creating an analysis code that will allow you to track your previously held deposits. To add an analysis code in Arthur select Financials > Analysis Codes > Add Analysis Code.
Set-up as follows:
QuickBooks Account – Arthur – Custodial Scheme
Debit or Credit – Credit
Paid to/by – Tenant
Default VAT – Not applicable
Statements – Tenancy Deposit Statement
Go onto the tenancy you wish to add a transaction for. Select the statement then add the charge.
Select Add Transaction. Within “Transaction Type”, select “Registered Deposit Charge”.
Input the date the deposit was invoiced to the tenant.
Next, create a “Registered deposit already held transaction.
The date should be the date you initially received the deposit.
Before allocating the transaction make sure you are in the “Tenant Deposit Statement”.
Now you can sync with Quickbooks. The deposit account you set up in QuickBooks will be credited that amount.
Select Accounting > Chart of Accounts.
Arthur – custodial scheme will be updated with the deposits.
Go into the Account History to find the deposit.
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