Write the next sentence in this paragraph:

How to account for customer deposits
Create an account called " customer deposits " or " prepaid sales " in your accounting journal.
While a customer deposit sounds like straight income to you, it is in fact a liability to the business because you " owe " the customer something. This is why you need to create a special account.

Pick from: - For example, you can create a special account for sales that is under $30 , 000. You can save on taxes by making a list of all withdrawals, and by keeping transactions separate at work. - You may be asked to choose between a pro or con account. A con account allows you to make a cash deposit. - Think of an account as like a line item on your personal budget. Check to make sure that this " customer deposits " account has not already been created under another name. - A combination of payment services, such as sales taxes, and required debit card transactions, will help create a unique account at your convenience. To create a special account, you should first create the account at your preferred business address and then write down your billing address.
Think of an account as like a line item on your personal budget. Check to make sure that this " customer deposits " account has not already been created under another name.