I paid a utility deposit to a vendor of $620.00 and recorded it as an "other asset" - account name "Utility Security Deposit". There is an associated job with this. I received a refund check from the utility company less the last months utils. How do I record the last months utils, make the deposit, and attribute it all to the correct job?
I'm at an absolute loss on this!
Any help would be much appreciated,
Thane
On the check from the Utility Company, you will go to the Make Deposits window. On one line, in the FROM ACCOUNT column, use the "Utility Security Deposit" for the entire amount. Then on the next line on the From Account column, use the Utility Expense account - but as a negative amount.
This will net your deposit to what you actually received, records the expense and relieve the asset you have been holding.
Hope this helps! If so, please mark Solved. Thanks so much!
Debbie
