See the How to PDF document #380 for more information about security deposit interest.
Interest is computed on security deposits based on the Rate Table assigned in the Tenant Profile if the Charge Code is marked Earns Interest as a Deposit. Interest is computed from the posting date of the security deposit receipt.
To adjust the interest amount you must use the Release Deposits function rather than the Tenant Moveout function.
To increase the interest amount
• Enter the difference in the Interest Adjustment field.
To decrease the interest amount
• Enter the adjustment amount as a negative number.
or
• On the line item for the security deposit, clear the Pay Interest check box. This will clear the interest calculated.
• Enter the new interest amount in the Interest Adjustment field.
Posting from Release Deposits causes the total released amount to be added to the tenant open credits balance. This amount will be reflected as the Starting Open Credits in Tenant Moveout.
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