How-To Add, Bank and Refund a Security Deposit

Introduction

This page is dedicated to showing you how to add a security deposit onto a sale, how to bank that security deposit & how to refund that security deposit.

Adding a Sale Deposit

To add a deposit onto a sale navigate to the "Deposits" tab within the sale of stock screen.

When you hit the "Add" button the "Add Sale Deposit" screen will pop-up. Enter in the deposit's details & hit "OK" to save.

Your security deposit will now be attached to the sale. Hit the "Save" button to save this against the sale.

Banking a Sale Deposit

Navigate the to "Account Receivable" tab & hit the "Bank Deposits" button. This will open up the Bank Deposits screen for you.

Hit the "New Banking" to open up the Banking screen.

Enter in all the details related to when this deposit was banked in the "Deposit Details" section, highlight the amount you are banking & hit "Record".

When you have finished that days banking hit the "Post" button.

This bank deposit will now appear within the list of the bank deposits screen.

Refunding a Sale Deposit

Navigate to the "Account Payable" tab, hit the "Make Payments" option & click on the "Refund Sale Deposit" option.

This will open the "Payments - Deposits" screen. Highlight the deposit/client you wish to refund & hit the "Payment" button.

Within this screen you must enter in the details of which account you refunded from & when/how you refunded the deposit in the top half of the screen, select the deposit you are refunding & hit the "Post" button.

Refunding a Sale Deposit Through the Sale

To refund a sale deposit through the sale, navigate to the "Deposits" tab within the Sale of Stock screen.

When you hit the "Refund" button the Add Sale Refund screen will pop-up. Enter in the refunded deposit's details & hit "OK" to save.

Your security deposit refund will now be attached to the sale. Hit the "Save & Deliver" button so you can go and make to refund payment for the deposit through Creditors.

Navigate to the "Account Payable" tab, click the "Make Payments" button & click on the "Pay Your Creditors" option.

This will open the "Payments - Creditors" screen. Highlight the amount/client you wish to refund & click the "Payment" button.

Within this screen you must enter in the details of which account you refunded from & when/how you refunded the amount in the top half of the screen, select the amount you are refunding & click the "Post" button.

No Deposit Amount in the "Refund Security Deposits" Screen

If the customer’s money is not in the refund sales screen you may need to do a ledger enquiry to see where you banked the money.  The refund sales deposit screen just looks at the ledger account security deposits.

It is possible the money has been banked into the debtor’s account, to check this do a ledger enquiry on the client’s name. This ledger enquiry will show you where the money was received.

To refund this navigate to the "Accounts Payable" tab, click the "Make Payments" button & click the "Bulk Payments & Transfers" option.

Select the Debtors account, highlight the amount/client you wish to refund & click the "Payment" button.

Within this screen you must enter in the details of which account you refunded from & when/how you refunded the amount in the top half of the screen, select the amount you are refunding & click the "Post" button.

Downloadable PDF Document

This page in a downloadable document format - How to Add, Bank and Refund a Security Deposit.pdf