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Dealing with Historic Deposits held by the Custodial Scheme (Xero Users)

Step 1:

Create an analysis code that will allow you to track your previously held deposits. Go to Financials > Analysis Codes > Add Analysis Code. Set up as shown below.

*If you don’t have a dummy custodial account set up please contact a Arthur specialist*

 

Step 2:

Go onto the tenancy you wish to add a transaction for. Select the statement then add the charge. Select Add Transaction. Within “Transaction Type”, select “Registered Deposit Charge”.

Step 3:

Create a “Registered deposit already held transaction. The date should be the date you initially received the deposit.

 

Step 4:

Select theTenant Deposit Statement”. Allocate the Deposit already held to the Deposit Charge. Now you can sync with Xero. The deposit account you in Xero will be credited that amount.

Step 5:

Go to Accounting > Chart of Accounts. The DPS account will be updated with the deposits.

Click within to see the deposit.

 

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