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judy6
September 13, 2023
Question

Deposits from tenants, how to allocate it

  • September 13, 2023
  • 1 reply
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Deposits from tenants, how to allocate it. I  use a deposit scheme which hold the tenants deposit. How do I record the amount, as I don't want to be charge tax on this amount as I am only looking after it. How do I categorise this please?

1 reply

A
Ashleigh1
September 13, 2023

 Hello Judy6, thanks for posting on the Community page, So you can do a bank deposit to a liability -type account to show this in your account and put the vat down as no vat so you don’t get charged for this.  We would advise that you speak to an accountant as well if you're unsure as we are just technical support not trained accountants.

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