How to record Earnest Money Deposit (EMD) in REsimpli Accounting

Step 1:
Move the property from Active Leads to Inventory after closing.

Step 2:
Open the property record and confirm the property address is added.

Step 3:
Go to the Banking section.

Step 4:
Find the transaction used for the earnest money payment.

Example:

Step 5:
Select the vendor you paid.

Common examples:

Example:

Step 6:
Choose the payment method.

Example:

Step 7:
Select the property connected to the earnest money deposit.

Step 8:
Create or select the property asset account.

Example:

Step 9:
Add transaction notes.

Example:

Step 10:
Upload attachments if available.

Examples:

Step 11:
Click Save & Exit.