Our company hires furniture, and when we do we charge our customers a security deposit, which is held in trust and refunded to the client once our hire itmes are returned in good order.
We have an item set up for the hire package and an item set up for security deposit- this security deposit item doesn't have GST included, and currently is allocated to other income. However our accountant has advised this is being handled incorrectly as we are getting over inflatted income figures as all of these deposits are allocating to income. Accountant would rather be allocated as a liability however when creating an item only income options are available. PLEASE INCLUDE MORE OPTIONS