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How to handle the Deposit process using the Arthur Live Bank Feed

Before you start registering historic deposits, reconciling transfers out and refunding deposits, it is important that you initially create a bank account to represent your deposits. In Arthur to do this, will create a dummy Custodial bank account if your deposits are held in a Custodial Scheme. Alternatively, if your deposits are held in an Insured Scheme and the money is held in a separate bank account to which you receive your rents, it is important that you also create a bank account

Note –  If your deposit is held in an Insured Scheme and is held in a separate bank account, you will be following the same steps but rather than inputting dummy information, you will input the real information

Select Financials followed by Bank Accounts

From here, select Add Bank Account

Within

  • Payment Type select ‘Bank Transfer’
  • Short Description enter a name that you can use to identify the bank as a dummy account for your custodial scheme
  • Within Account Number and Sort Code, enter 0’s

Once you have filled these in, you can select Save Bank Account

Following this you can do the following:

  1. How to handle Historic Deposits using the Arthur Live Bank Feed
  2. How to handle Deposit Transfers using the Arthur Live Bank Feed
  3. How to handle deductions returned from the Custodial Scheme following the end of Tenancy Process using the Arthur Live Bank Feed
  4. How to access and locate my running Deposit Balance held with the DPS

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