Deposits

Another item that has its own spot in your books is deposits you pay for various things, from workers compensations to the cleaning deposit on a rental, to a deposit with the post office for express mail. These are items that will be returned to you when you finish using the service - technically, it's your money that they're holding. These amounts all go into the account called deposits, which is of course under the Asset section of your Balance Sheet.

NEXT PAGE

Jump ahead, or backwards with these links:
Expenses Paid by Cheque : Expenses Paid By Cash : Accounts Payable : Cash Discounts on Purchases : Petty Cash : Payroll : Sales & Customer Deposits : Accounts Receivable : Inventory : Deposits : Sale of Assets : Depreciation : Suspense : Month End Adjustments : Paper Trails

Copyrighted 1999-2008 All Rights Reserved
  Privacy Policy    Terms of Use   Most Recent Traffic Information

This page last modified: 11 Mar 2008