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This guide has been reviewed against our global client base and classed as relevant to the following regions: UK

This page explains how to correctly process a deposit repayment from the agent deposit account

1. Access Tenant Refunds screen

From the tenancy screen:

  • Click Manage Deposit

  • In the Refunds section, click Refund Deposit

2. Review the primary client account Bank Reconciliation

The refund of the deposit to come from the deposit account creates an entry on the right side of the primary client account Bank Reconciliation to be reconciled against the import of the Deposit Account Bank Statement



3. Create BACS file to pay out deposit from Deposit Account 

  • Prepare BACS file to upload to the Deposit Account to pay in to the primary Client Account

    Notice the payment to the tenant created in preparation is currently uncleared so cannot be paid out

  • Preparing the BACS file will create a Money Out entry on the deposit account client reconciliation 


4. End of the working day...

At the end of the working day, upload Deposit Account BACS file for funds to go to the Primary Client Account


5. Import Deposit Account Bank Statement

  • Within the Deposit Account Bank Reconciliation select Import and select Deposit Account Bank Statement file to import reconcile the entries and click Post to finalise


4. After uploading the Deposit Account BACS file

After uploading the Deposit Account BACS file:

  • Import the Client Account Bank Statement detailing the Money In from the Deposit Account


DO NOT post the deposit entry to tenancy!

Posting to the tenancy will create an additional entry on the right of the bank reconciliation that will not be able to be reconciled leave the entry in Unposted

5. Reconcile money in on primary account

  • Reconcile the Money In to the primary Client Account on the left with the Money In entry created at the point of creating the deposit refund

  • Click Post


6. Go to the BACS and Cheques Run to process payment

From the BACS and Cheques Run, the refund payment to the tenant can now be processed 

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