Deposit/bond release

Owned by Fiona Hardy, created
Last updated: Mar 16, 2022
2 min read

This guide has been reviewed against our global client base and classed as relevant to all regions

This article outlines the process for releasing a deposit/bond

1. Access Manage Deposit/Bond screen

From the tenancy:

  • In the Accounts panel, beside the Deposit field, click Manage

  • In the Refunds panel, click Refund Deposit

 

2. Tenant refunds screen

A list of outstanding invoices and
any deposit/bond money available
for refund is displayed

  • The left column allows items to
    be selected which will be paid
    from the deposit/bond

  • The To Pay box allows partial
    repayment of outstanding
    amounts
    If a charge is raised for deposit/bond deductions then the amount payable is reduced on this screen, the charge will be raised for the original amount and the difference left unallocated

  • Click Post to create the transactions and a payment if there is a net amount payable to the tenant

 

If the deposit/bond is held in an account separate to the client account, a transfer payment will be raised to move the money back to the client account

This must be cleared as ‘money in’ to the client account before the tenant repayment (or any supplementary payments) will be marked as cleared and available to pay from the BACS/ABA and Cheque Run screen

For more information, click here



3. Create a charge for damages

If there are landlord deductions to be made for damages or other reasons, follow instruction below

From Tenant Refunds:

  • Click Create a charge for damages etc

  • Enter Amount, Description and select the relevant Account

  • Click Accept

For supplier dilapidations, the invoice first needs to be posted on to the tenant transactions

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