General
Payment of Office Security Deposit
Recording the refundable deposit paid to a landlord at the start of a lease.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Refundable Deposits | Asset (+) | 2,000.00 | - |
| Cash / Bank | Asset (-) | - | 2,000.00 |
💡 Accountant's Note
Deposits are not expenses. They are assets because you expect to get the money back at the end of the lease, provided the property is in good condition.
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QA
Expert Analysis by Qusai Ahmad
General Accountant Supervisor & IFRS Specialist
Specialized in SAP GUI automation and Middle Eastern tax compliance. Building digital tools for the next generation of finance leaders.