Required
beginnerfinancial
v1.0Security Deposit: Receive, Hold & Refund
Deposits
20 min read112 viewsFinancials β Deposits
π― Objective
Record security deposits correctly as liability accounts, track them through the tenancy, apply move-out deductions, and process the final refund.
πΌ Business Purpose
Security deposits are held in trust and are not income. Mishandling them creates legal liability and compliance failures.
πΊοΈ Navigation Path
Financials β Depositsπ Compliance Note
Security deposits must be held in a separate trust account per provincial legislation.