Receipting a Rent Deposit

Go to “Property Management”

Click on 

Find the property

Select the date

Select the “Rent deposit” transaction code

Select the tenant, the amount and the payment method.

 

Note: Ensure that you have the correct tenant selected in the dropdown list as it defaults to the property’s current tenant

Once finished you may either Save & Close, Save & New or Save & Print.

Checking the tenant’s Rent Deposit Ledger

Go to “Trust Account”

Select 

 

In the orange band, select “Rent Deposit” and enter the tenant’s name in the “Tenant” field. Click “Find Now”

You will now be able to see any rent deposits entries, journal transfers, and rent deposit refunds in the grid.

Journaling Rent Deposit to Rent, Bond, and Tenant Invoices

Go to “Property Management”

Select 

Search for the tenant by the tenant’s name, property address, or deposit ref number.

Across the top you will see the message 

Now you may allocate the rent deposit to rent, bond, or tenant invoices by typing the amounts into the fields. Save & Close when finished.

Refunding a rent deposit

Go to “Property Management”

Select 

Search for the property address

Enter in the date

Select the “Rent Deposit Refund” transaction code from the dropdown

Ensure that the correct tenant is selected

Enter in the amount, payment type and payment details.

Depending on the payment type you choose you may need to write out a cheque or do an electronic transfer to the tenant’s account.

If you have selected EFT Direct deposit you will then need to go to “Trust Account>ABA file EFT payments” and create a new ABA file for the refund. This may then be uploaded to the bank.

If you have done the rent/rent deposit on the day of EOM before you have created the EOM ABA file, it will be included in the ABA file later when you reach that step in the EOM procedure.