How to Account for Holding Deposits (QuickBooks Users)

Modified on Tue, 26 Mar at 12:40 PM

This article is used to Account for your Holding Deposits/Reservation fees/Prepayments as a QuickBooks User.

Step 1

Go to QuickBooks > Sales > Customers Select the customer you receive payment from then Add New Transaction > Payment

Create your holding deposit/reservation fee transaction

Step 2

Go to QuickBooks > Banking then select the bank account you received the payment in. The item should be ready to match.

Step 3

Run a sync with QuickBooks from Arthur. Go to Financials > Go to QuickBooks screen > Synchronise.

Step 4

Once the sync has been successful, you will be able to see the holding deposit on the tenant's rent statement as a payment/credit. This can then be allocated to future rent.

[video width="1920" height="970" mp4="https://www.arthuronline.co.uk/wp-content/uploads/2019/01/holding-deposit.mp4"][/video]

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