DavidD66
Expert Alumni

Business & farm

If you want to show it as liability in QuickBooks you would simply record the transaction as a debit to cash (which is automatic for a bank deposit) and a credit to a liability account (e.g. Tenant Deposits).  If you were recording it as revenue the credit would be to a revenue account (e.g. rent received).  You can also do it with a Journal Entry if it's already been recorded.

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