Tracking Tenant Deposits and Refunds

[Carl Miller]

How do most landlords track tenant security deposits and refunds?  Do people just use a pencil and paper or is there specialized software for this? Or is there a third hidden option?

[Gita Faust]

Just my two cents on tracking security deposits using QuickBooks. 

- Do not add each tenant's name on the Balance Sheet. Your report is going to be loooooooooooong.

- Instead create a Invoice or Sales Receipt for each tenant using Security Deposit Item and Account.

- Security Deposit account should be a Liability Account

- Customize your report for Security Deposit by Customer (tenant) and see the magic.