Rent Deposits

This article advises on how to handle rent deposits in KashFlow.

Setting Up

To begin, first go to Settings > Chart of Accounts > Show Advanced Configuration Options > Tick ‘Allow me to access all codes in all areas’ > Click Update.

Next, go to Bank > Bank Codes button > Add a new Bank Code. Name the new code Deposits and set it to Current Asset/Liability or whatever you think appropriate.

Recording

You can then record a bank transaction directly against the bank account for the deposit received and select the newly created code in the Code field. For more information on adding a bank transaction please click here.

See how IRIS KashFlow works with your business and your books