Landlord Tenant Closing Statement to Reconcile Security Deposit - Missouri 2025

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  1. Click ‘Get Form’ to open the Landlord Tenant Closing Statement in the editor.
  2. Begin by entering the Landlord's name and the leased premises address at the top of the form. This information is crucial for identifying the parties involved.
  3. Fill in the tenant's information, including names, forwarding address, and new phone number. This ensures that all communication regarding the security deposit is directed appropriately.
  4. Next, input details about the security deposit. Include the amount paid, any other deposits made, and any rent credits applicable. This section summarizes what has been collected from the tenant.
  5. In the 'Charges to Deposit and Credits' section, list any cleaning charges, damage repairs, unpaid rent, uncollected late charges, and uncollected interest. Be thorough to ensure transparency.
  6. Calculate total charges and determine amounts due to both tenant and landlord. Clearly indicate these amounts in their respective fields.
  7. Finally, sign and date the document before delivering it to the tenant. Ensure you include any checks if there are amounts due.

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Its essential to know what cannot be deducted from a tenants security deposit. Prohibited deductions include: Normal Wear and Tear: Deductions for minor wear and tear, such as small scuffs on walls or loose doorknobs, are not permitted.
It follows the accounting principle; the deposit is a current liability that is debited and sales revenue credited. A customer deposit could also be the amount of money deposited in a bank. Since there are no cash earnings, the money is debit to the bank and credit to the customers deposit account.
This California Security Deposit Accounting Statement itemizes all deposits (security, pet, key, cleaning, other) and all deductions that you intend to make from these deposits, including reasons for the deductions.
Key Takeaways. The accounting entry for the security deposit receipt includes a debit to Cash and credit to Security Deposit (liability) in lessors books. On the other hand, the entry for the security deposit payment consists of a debit to Security Deposit (asset) and a credit to Cash in lessees books.
1. A landlord may not demand or receive a security deposit in excess of two months rent. 2. All security deposits shall be held by the landlord for the tenant, who is a party to the rental agreement, in a bank, credit union, or depository institution which is insured by an agency of the federal government.
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Determine the date and amount of the deposit. Create a journal entry for the deposit. The debit account will be the bank account that is being deposited into, and the credit account will depend on the source of the deposit. Include a brief description of the deposit in the journal entry.

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