AD17 - Application for Review of Assessed Security Deposit - NSW 2025

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The person paying the security deposit would credit the asset account Cash and would debit the asset account Security Deposits. The person receiving the security deposit would debit the asset account Cash and would credit the liability account Security Deposits Returnable. Lets use an example.
The person paying the security deposit would credit the asset account Cash and would debit the asset account Security Deposits. The person receiving the security deposit would debit the asset account Cash and would credit the liability account Security Deposits Returnable.
The amount of the security deposit is refundable to the tenant, if the rental unit remains in its present condition. Since the security deposit is refundable (and the tenant intends to comply with the specified conditions) the tenant that paid the security deposit will report the amount as an asset.
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