Security Deposit Receipt |
The security deposit receipt function streamlines the process of recording security deposits. It provides a convenient way to initialize the security deposit accounts.
Posting a single transaction in this function records the new security deposit charge, the receipt and places the receipt in Deposit Receipts. You can then go into Deposit Receipts and post the deposit to the bank account.
The alternatives are to charge the tenant, then post the receipt, or, in Tenant Receipt, use the new charge function.
Note: If the tenant is paying off the security deposit in increments, charge the tenant the total security deposit charge, then post the payments as you receive them in Tenant Receipts or Security Deposit Receipts. This way you can track how much is still owed.
There are protected fields on the right with information about deposits previously charges and unpaid deposit balances. These fields will be updated as you enter payment and line item information.
A printed receipt can be generated by clicking the Print button. Date This date field should reflect the date the money was received. If interest is calculated this date is used as the start date. Receipt # This is a system generated number that prints on the payment receipt hard copy. Change it if you prefer. Selecting the Tenant Unit or Tenant can be used to identify the payer. Selecting from one list will pull in the other information. These fields are all Find Listes and you can select from either the short or long description of the Record ID.
By clicking on the Bank The bank will default to the escrow bank account as designated in Setup,Posting Table, Escrow. Select a different bank account from the Find List if necessary. Payment Enter the amount of the payment as a single check or cash. . If some cash and some checks were received, post a separate receipt for the cash and separate receipts for each check. Memo/Comments Enter any memo or comments you wish attached to the transaction. Currency Mark this checkbox if the payment is cash or money order. If some cash and some checks were received, post a separate receipt for the cash and separate receipts for each check. Use Open Credits This checkbox is marked when there are open credits available for paying the security deposit charge. Unmark the checkbox if you don’t want to use the open credits for this purpose.
Line Items - New Security Deposits Tab Charge Select the charge from the Find List. Only charge codes marked "Use to Track Deposits" are listed. Amount Enter the amount of the payment against the charge code. Line Items - Unpaid Security Deposits Tab All unpaid security deposit charges are listed as line items. If a partial amount is being paid off, enter the amount in the payment field and also into the amount field of the line item.
Note: If the payment is for more than one security deposit charge code, enter multiple line items by entering one, then clicking into the open area below it to open another line item. Use if a printed receipt is required. A memo can be added to the receipt prior to printing.
Use the New button to record and enter another or Post if this is the only receipt. Use the Deposit Receipts speedbutton if all receipts for the deposit slip have been recorded.
After posting the receipt go to Deposit Receipts to post the amount to the bank account as part of a deposit slip if all receipts for the deposit slip have been posted.
Unpaid Deposits The total of any security deposit charges previously posted and still unpaid. Starting Open Credits The total of any open credits that can be used to satisfy the charged amount. Current Deposits Paid The total of Unpaid Deposits which will be paid off by this transaction. New Deposits Paid The total of security deposits entered as new line items which will be paid off. Final Open Credits Any open credits remaining after the transaction is posted. Negative open credits are not normal. See Open Credits. |
