Where is best to put a Security Deposit on the Balance Sheet?
Question asked by David Foster 4 years ago
We're moving premises soon and have to put up a big deposit against potential damage etc when we move out. (Previously they were small and I simply expensed these through P&L, but it's much bigger and needs to go on the Balance Sheet this time). My accountant says this should be recorded as a "current asset" or "prepayment", but I can't find anything close as a standard code in ClearBooks. Any views on where it should go? Should I just create a new code under "other debtors" (7503) or "Inventory" (7504) or even "cash" 7502?