Deposits - Sales (Liability)
Client has Deposit - Sales balance (Liability) in MYOB of $385,010, this is not correct, and they do not hold this amount in deposits, movement for the year was $164k, trying to work out what is the ...
Forum Discussion
Hey Rebecca1979
Can you please confirm which product you're using? If it's MYOB AccountRight, would recommend checking out this help article, there's more information on how deposits are treated.
AccountRight treats deposits differently to other payments. A customer deposit is typically posted to a liability account because it's not yet considered business income. More detail can be found on this page.
