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What's a deposit?

Customer deposits are payments received for goods or services not yet delivered. Customer deposits are kept in a liability account.

Supplier deposits are payments you make to suppliers for goods or services not yet delivered. Supplier deposits are kept in an asset account.

<note about bank deposit>

Do you need to track deposits?

Linked accounts for deposits

 

 

 
Related topics

Distributing profit and loss

Set up accounts

Tracking financial information

Recording money you spend and receive

From the community

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