Earnest money journal entry

But then in the screenshot it shows the class of "YourCompany" for the earnest money entry. Question 2 I think I figured out.

Is an earnest money deposit a liability,

I accidentally entered the earnest deposit under instead of under the sub account, which is the checking account. But I still could use the answer for question 1.

Quickbooks arbitrarily displayed it in the "Other" account, which I guess is what it does with any balance assigned the super account. Can you just fix the transaction? You're not fixed in stone when you enter something in QB's. If you used the wrong account, just change it.

When to Use a Journal Entry for Prepaid Liability

Earnest money, proper method of entry All other questions. Questions on earnest money: Hi Nate, 1 You should use the Class of the property, not the company. Is it a custom account you created just for this transaction? I'd expect you to only have a checking account, Earnest Money Paid account, real estate asset sub-account, and maybe a mortgage account involved.

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SparkNotes: The Importance of Being Earnest: Themes, Motifs, and Symbols

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