Rent Deposits

This article advises on how to handle rent deposits in Tally.

Setting Up

To begin, first go to Settings > Advanced Settings > Tick Enable Access to Nominal Codes > Click Update.  Next, go to Bank > Transaction Types button > Add a new Transaction Type.  Name the new type Deposits and set it to Current Asset/Liability or whatever you think appropriate.


You can then record a bank transaction directly against the bank account for the deposit received and select the newly created code in the type field.

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