Quicken creates a liability account named *Security Deposit Liability* (asterisks included) to track the security deposit you collect from your tenants. You can see this account in the Account Bar under Rental Property. This account is only used for tracking security deposit collected and returned.
If you already have a *Security Deposit Liability* account in Quicken, then Quicken makes the entries in the account register.
- Click the Rental Property tab.
- Click the Properties & Tenants button and choose Show Tenant List.
- Select the tenant whose information you want to edit.
- Why can’t I see my tenant in this list?
If you selected the Hide tenant check box, Quicken does not display the tenant in the Tenant List. Select the Show hidden tenants check box in the Show Tenant List dialog to view all hidden tenants.
- Click Edit.
- In the Security Deposit tab, enter the security deposit information for the tenant as necessary.
- What happens when I enter the security deposit collected and returned?
When you enter the security deposit collected for a specific tenant, Quicken creates a liability in the *Security Deposit Liability* account. When you enter the Security deposit returned, Quicken clears the liability from the account.
- How should I handle security deposit that I keep?
When the security deposit returned is less than what you collected, enter separate transaction(s) to adjust the difference. Enter the adjustment transaction(s) in any checking or savings account - do not use the *Security Deposit Liability* account for the adjustment transaction(s).
Note: The *Security Deposit Liability* account is used only to track the security deposit liability. Entering the adjustment transaction in this account shows incorrect net worth value.
- Click OK.
Adjust the difference by adding income transactions
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