Renting to Customers items that I rent

Hello, @Nas72. I'm here to assist you in tracking the deposit money that your customers have paid for renting tuxedos.

You can set up a deposit or retainer process for your company in QuickBooks Desktop (QBDT). When you receive a deposit or retainer, it's treated as a liability until used to pay for services. Once you invoice the customer and receive payment, the liability becomes income.

To accept upfront deposits or retainers, you can create a current liability account. They are liabilities, not income, even though you deposit the money into your bank account. 

After that, you can make an item linked to this account to record associated transactions. 

When you receive an upfront deposit or retainer from a customer, you'll need to record it. Then, when you provide the service, you can apply the upfront deposit or retainer as payment on the invoice. This moves the deposit from the liability account to your income account.

For a more detailed guide, visit this article: Manage upfront deposits or retainers.

In QBDT, you can easily track your sales and expenses using predefined customer, job, and sales reports. For further guidance, check out this article: Customize customer, job, and sales reports in QuickBooks Desktop.

Please come back to this thread if you have any follow-up concerns regarding tracking your customers' deposit money. We're always around to help you out. Stay safe!