Refundable security deposit entry

Hello,,

If the Contract period is more than one year then show it under "Long Term Group" or else "Short Term"

Security deposit is not treated as an Account Receivable.  It's treatment as a Current Asset or Long Term Asset in the Balance Sheet depends on whether this is receivable within 1 year from the date of Balance Sheet or not.  If it is receivable within 1 year, then treat this as a Current Asset otherwise Long Term Asset.

Journal entry is      Security Deposit A/c           Dr.

                                      To Bank A/c

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Dear ravi

Mr.Jag Bhushan Sharma's reply is solid

Dear ravi

Mr. Sharma is right ans.

Thanks sir

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I would like to know more about security decposit. can you help me?

Yes treat as a Current Asset

 

think from institution point of view, After depositing the Caution deposit we made entry under Current liabilities, after expiry of term students havent taken back the deposited amount. what the Institute should treat that amount?

Dear Sir

We are receiving Deposit from distrubutors as per it act interest is applicable, if applicable which section

Halaswamy K M

9844362179

I would like to know security return  entry plz help