On the tenancy, add a transaction with the transaction type Registered deposit charge. This will create the charge in the tenant deposit statement (filter statement).
Select Save Transaction and conduct a synchronisation between Arthur and Quickbooks.
Go into your Quickbooks’s find and match page and match the bank line with the relevant deposit invoice posted by Arthur
Lastly, coming to the end of the tenancy, the deposits must be refunded to the tenants. Below is the process of doing this:
Initially, the deposit needs to transfer back into the main tenant account in preparation for its return. This is created in Arthur using the Add Transaction within the tenancy, and use transaction type “Deposit Transfer to Rent Account”
*Ignore this step if there are no deductions to the tenant.*
Ignore this step if there are no deductions to the tenant. If there are deductions, you must undergo the following process in Arthur
This is done within the tenancy in Arthur. Select Add Transaction and enter “Sundry Charge”. This will decrease the amount owing to the tenant and count as a deduction.
This is done in the ‘Close tenancy’ function within the tenancy screen in Arthur. On the left click on the three dots and select Close Tenancy. At the point of closing the tenancy you will be prompted to enter a bank account from where the refund is coming from.
It will create a remittance totaling the sum of Deposit less deductions, which you can reconcile against the payment you are refunding the tenant
When refunding the tenant, select your client bank account as the ‘Remittance bank account'( in the image above). You can then reconcile the tenant remittance transaction against the payments (refund) made to the tenant on QuickBooks (see below)
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