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Updated over 7 years ago, 08/02/2017
Bookkeeping Security Deposit
Is a security deposit regarded as income for bookkeeping purposes? I'm using Excel spreadsheets for now to do my bookkeeping. How do I account for the security deposit without inflating the cashflow?
How do I account for the return of a security deposit? What would the account be for this transaction? Is it an expense? If so, what kind?
Thank you!