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Security Deposit

Former Member
0 Kudos

Dear All

My Client has paid Security Deposit to different government authorities.

Should I create a separate Vendor Account group for these and then create each & every authority as a Vendor

OR

Pass a GL entry for the same. i..e.. create a GL account for each and every authority.

Please advice..

Thanks & Regards

Kanwaljit

Accepted Solutions (1)

Accepted Solutions (1)

Former Member
0 Kudos

Dear Kanwaljit,

It is better to create separate vendor and record the security deposit as a Special GL entry for each vendor. This will give you a proper tracking record for the various deposits made and help you in future.

Thanks and Regards,

Anit

Answers (0)