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areedy
Joined: 25 Jun 2008
Posts: 49
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| Posted: Tue Jul 15, 2008 10:09 am Post subject: Last month rent payment |
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I received a first month payment, a security deposit and a last month rent payment for a customer who is contracted with us for 3 years. Do I treat the last month payment as a security deposit?
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RobJ
Joined: 11 Jun 2008
Posts: 182
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| Posted: Tue Jul 15, 2008 11:19 am Post subject: Re: Last month rent payment |
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areedy wrote: Do I treat the last month payment as a security deposit?
No, the security deposit is a liability and the last month's rent is unearned revenue (revenue which will be recognized later when the tenant moves out).
Rob |
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areedy
Joined: 25 Jun 2008
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| Posted: Tue Jul 15, 2008 12:00 pm Post subject: |
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| Thank you ! |
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