How to Account for Holding Deposits (QuickBooks Users)

This article is used to Account for your Holding Deposits/Reservation fees/Prepayments as a QuickBooks User.

Step 1

Go to QuickBooks > Sales > Customers  

Select the customer you receive payment from then Add New Transaction > Payment

Create your holding deposit/reservation fee transaction

Step 2

Go to QuickBooks > Banking then select the bank account you received the payment in.

The item should be ready to match.

Step 3

Run a sync with QuickBooks from Arthur. Go to Financials > Go to QuickBooks screen > Synchronise.

Step 4

Once the sync has been successful, you will be able to see the holding deposit on the tenant’s rent statement as a payment/credit. This can then be allocated to future rent.