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Matt Bussey

Amazon FBA, Bookkeeping, Parenting, Biohacking, Parenting, Relationships

liability account

Journal Entry for Tenant Security Deposit

When you receive a security deposit from a tenant, your cash balance goes up (asset) which means that you need to have a corresponding increase in a liability account.  Remember, if you’re using the double-entry bookkeeping system (which you are if you are using Quickbooks Online), all transactions need to balance out, expenses need to balance with a…
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February 27, 2015

Setting up a rental property in Quickbooks Online

The sole purpose of this post is to document the process by which I bring a new rental property into my accounting system, Quickbooks online. Create Your Asset Accounts (3 total) Think of it this way, you will need one account (or in this case, one account with two sub-accounts) to track the value of…
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February 1, 2015

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