How to transfer a registered deposit to the property owner

Modified on Tue, 26 Mar 2024 at 12:30 PM

Creating the Transaction

Step 1: Go to the Tenancy > Tenant Deposit Statement > Add transaction.

 


Step 2: Add the Registered Deposit charge and click save.

 


Receiving the Deposit

*If you are integrated with Xero, please reconcile the charge as usual with its associated bank statement line*

Step 1: Pay off the Registered Deposit charge when it's received.

   

Transfer to the Owner

*Ignore Step 1 and 2 if you already have this analysis code*

Step 1: Go to Financials > Analysis Codes

    

Step 2: Add analysis code > Name it 'Registered deposit to Property Owner'> make it a Charge, Credit > Map to Tenant Deposit liability in Xero > Select Property Owner and PO Statement.

    

Step 3: Got to Tenancies > Statements > PO Statement > Add Transaction

    

Step 4: Select the Transaction type you just created and fill in the details > then save the transaction and the deposit will now show on the property owner statement.

    

This transaction will then appear on the property owner statement.  

    

Go to financials>property owner remittance and view the transactions  

  

You can now remit this to the property owner. This is linked to how to pay the property owner

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