This article is used to Account for your Holding Deposits/Reservation fees as a QuickBooksUser.
Go to QuickBooks > Banking then select the bank account you received the payment in.
Select the transaction > Add, then fill out the following:
Type – Deposit
Account – Debtors
VAT – No VAT (Sales)
You also need to choose the relevant contact, unit and give the transaction an appropriate description.
Locate the customer ledger on QuickBooks.
Go to Sales > Customers then choose the customer/tenant you created the bank deposit for.
Select the bank deposit.
Run a sync with QuickBooks from Arthur.
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.
See below for video example:
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