PLEASE FIX - Rental Security Deposit Issue (DOUBLING UP)
Forgive me but this was brought up by Chris29 in May 2020 and it was CLOSED without Quicken Fixing and I think issues like this should be moved to under development until Fixed vs closed.
His issue (restated here) and mine (and others)
If I enter an amount (2500) in the Security Deposit field under the edit tenant functionality, it gets added to *Security Deposit Liability* account, which would make sense.
However, when the tenant pays their security deposit, I have to account for that when I record the receipt of that payment. Logically, it makes sense to me that I would categorize this amount as *Security Deposit Liability*, which allows me to track it as such, and let's me reconcile the payment in the account that receives this payment.
The issue, as you might have noticed, is that now I've got 2500 x 2 in Security Deposit Liability.
Entering it in the tenant functionality area is a one sided transaction, therefore it gets double accounted for, which is wrong.
NEEDS FIXED.
Comments
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Update after messing with this how this can work but really needs fixed.
This method-solution seems to work.
1. If you put the Security Deposit under the Tenant contact Details then Quicken records it under the *Security Deposit Liability* account2. Then when you deposit it under your bank register - I would records the portion to the Security Deposit Liability* account BUT this does double up on the amount in this account.
3. You can delete the duplicate entry created in the *Security Deposit Liability* account that was recorded under step one. Now this account should be correct and by deleting this entry it won't remove the amount under the Tenant Details Security deposit details. So think of the entry in step one as a place holder.0 -
For reference, here's the link to the original discussion:
I concur with @Chris29 's conclusion that this issue needs fixing and should be forwarded to the programmers for attention.
The transaction created by entering the Security Deposit amount in the Tenant records in the Rent Center should be changed to become a transfer to the account where rent is deposited for this tenant (Account name field in Edit Rental Property Tenant / Rent Details dialog)
When the tenant leaves and his/her deposit is refunded, partially or in full, a similar transfer from the *Security Deposit Liability* account can be made to zero out the liability.
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