QB Issue Resolution:

Thanks for getting back to me and for providing some additional information. I’m here to help get this taken care of.

 

Since you want to pay the final bill using the security deposit, you can set up a clearing account and transfer the $20 from the security deposit. Here’s how:

 

1. Go to the Gear icon, then pick Chart of Accounts under Your Company column.
2. Click New, then select Bank on the Account Type.
3. Enter Clearing account as the name, then Save and Close.

 

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Transfer the $20 from the security deposit, here’s how:

 

1. Go to the Plus icon, then pick Transfer under Other column.
2. Choose Security Deposit on the Transfer Funds From drop-down.
3. On the Transfer Funds To drop-down, pick the Clearing account you’ve set up.
4. Enter the amount, then Save and close.

 

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After that, create a bill or expense to pay for the final month. Here’s how:

 

1. Go back to Plus icon, then pick Bill or Expense under Vendors column.
2. Select the Payee, then on the Payment Account drop-down, choose the Clearing account.
3. On the Category details section, pick Utilities and enter the amount ($20), then Save and close.

 

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Once done, you can post the refund using a Bank Deposit. Simply follow the steps I provided on my first response. This should zero out the security deposit and the clearing account. You can also consult your accountant if you need further assistance.

 

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That should do it. Here’s an additional article for future reference: Refund a security deposit.

 

Resolution for Issue 'Here is my situation. I paid utility security deposit $500on October 2018 with first month Expense$20. When I entered expense, I put $500 under category security deposit . and Utility Exp $20. direct debit my checking account. This March, I stop the service. they apply the $500 to my Final month invoice. That is $500-$20, They send me a $480 check. How to enter this transaction. Thank you. security deposit' available: Yes (Solved).
Source: Intuit Community forum.

Here is my situation. I paid utility security deposit $500on October 2018 with first month Expense$20. When I entered expense, I put $500 under category security deposit . and Utility Exp $20. direct debit my checking account. This March, I stop the service. they apply the $500 to my Final month invoice. That is $500-$20, They send me a $480 check. How to enter this transaction. Thank you. security deposit: this issue or error code is a known issue in Quickbooks Online (QBO) and/or Quickbooks. Support for this issue is available either by self-service or paid support options. Experts are available to resolve your Quickbooks issue to ensure minimal downtime and continue running your business. First try to resolve the issue yourself by looking for a resolution described below. If it is a complex issue or you are unable to solve the issue, you may contact us by clicking here or by using other support options.

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