I am stuck with an issue here regarding the security deposit amount we collect from customers and also the security deposits we make to suppliers.
I have read through the guides and it suggests what i was already doing which is not suitable for me.
The situation is like we collect a security deposit amount from our customers and sometimes we have to make a security deposit to our suppliers. This security deposit does not have anything to do with the
Accounts payable or
Accounts receivable as this amount is not adjusted against the invoices made or received. It stays as a deposit as long as there is business with the customer or supplier. It will only be adjusted when the business is terminated.
I had created a sub-account named Deposits under Assets to receive and spend the deposit amount. But the problem i encounter is:
The deposit amount do not show up in the customer or supplier statements under reports. The statement under reports should show the deposit amount as a separate account.
There is no option to set the starting balance of a customer or supplier under a particular account, in my case “Deposits”.
Any help regarding this will be very helpful. TIA