How to handle a registered deposit as a transaction

This article looks at two scenarios:

  1. A client is adding a new tenancy and a new deposit
  2. A client is adding an exisiting tenancy where the deposit has already been accounted for

 

A client is adding a new tenancy and a new deposit

Step 1

Add a Transaction with the transaction type as Registered Deposit Charge. This is done at the point of adding a tenancy on page 4 of the add tenancy screen or retrospectively (see below).  This will create the charge in the Tenant Deposit Statement (filter statement)

 

 

Step 2

Once the money have been received, go to the tenant deposit statement and pay off the charge. ** For Xero or quickbook users  DO NOT pay off the charge as this will be done via the bank feed in Xero. Scroll down to see more. 

 

 

A client is adding an exisiting tenancy where the deposit has already been accounted for

This is for tenants whose deposits have been collected and are held  prior to the setting up of your Arthur account.

*If you have an exisiting Xero or Quickbooks and  have already accounted for this do not carry out this process. The integration will bring back into Arthur the deposit.

Step 1: Create an Analysis Code

Create an analysis code that allows you to add the registered deposit as a transaction already held.

Financials > Analysis Codes > Add Analysis Code.

 

 

 

Step 2: Adding the transaction into Arthur

Select the relevant tenancy “Add Transaction” and ensure the Transaction Type is set to “Registered Deposit Charge”.

Choose the date you initially invoiced the tenant for the deposit.

Now, we need to add the analysis code we just created. Again, this is done through Add Transaction and use the analysis code you recently created.

Set the transaction to the date the deposit was received.

Step 3: Allocating the transaction

Before allocating the transaction make sure you are in the Tenant Deposit Statement.

 

After you have created the analysis code and added it to the tenancy, allocate the transaction in the Tenancy Deposit Statement. This will pay it off.

 

 

 

 

 

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