How to show deposit repayment on settlement statement

How to show deposit repayment on settlement statement

If you are due money back from the deposit scheme due to arrears, or due to damage to the property, and you want to show this as payable to the property owner, take the following steps:

1) Ensure the correct charges are on the rent schedule. Do this by searching the tenant, and clicking into their rent schedule. If the deposit is due to be paid towards arrears, then those records should exist. If it is for damage then create a new "money due", selecting "tenant costs", typing in what it is for, and ensuring that you select "payment due to landlord".

2) Click on "Log payment"

3) Enter the amount that was received from the deposit, with the payment type of "Other". Note, if the deposit went directly to the owner you can check that box, which will mean you do not need to distribute it as part of the settlement, but can record it as part of the rent schedule.

4) Assign the payment to the correct charge, such as the arrears or the damage.

Once this is done you'll find in the settlement process that you can settle this payment.
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