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Quicken Classic for Windows
Business and Rental Property Tools (Windows)
I'm trying to add "other income" for a security deposit, and my tenant doesn't show (edited)
CVCF
I'm trying to add "other income" for a security deposit, and my tenant doesn't show up in the "Receive From"... However, when I want to add Rental income, he does show up. Is this a bug?
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Accepted answers
NotACPA
Also, that Security Deposit isn't income. It's a Liability that you owe back to the tenant when the lease is concluded. That liability is offset by the cash received, which HOPEFULLY, you're holding in a "Rental" checking account ... and not in your personal checking account.
IF, due to tenant damage/etc., you don't return all (or even part) of the Deposit, then that part not returned gets expensed to a "Tenant Damage" category.
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Quicken Sarah
Hello
@CVCF
Thank you for taking the time to share the details of this issue with the Community, although I apologize that you have not yet received a response.
If you are still needing assistance with this issue, please let us know what version and release of Quicken you are using (Help > About Quicken), please also let us know, how are you entering the "other income" transaction in Quicken?
Directly in a account register? If so, what type of account is it?
From the rent center > Enter New Tenant area?
Please let us know, thank you.
Sarah
NotACPA
Also, that Security Deposit isn't income. It's a Liability that you owe back to the tenant when the lease is concluded. That liability is offset by the cash received, which HOPEFULLY, you're holding in a "Rental" checking account ... and not in your personal checking account.
IF, due to tenant damage/etc., you don't return all (or even part) of the Deposit, then that part not returned gets expensed to a "Tenant Damage" category.
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