Part Refunding Deposits (Xero Users)

*Scenario* This article will deal with refunding part of a deposit without closing/ending the whole tenancy. This can also be applied to situations where there are multiple tenants, one leaves and they need to be refunded separately.

Step 1

Go to the Tenancy > Statement > Add Transaction

Step 2

Select Deposit transfer to Rent Account, name it ‘Deposit Refund’, enter the amount you are refunding.

Step 3: Run a sync with Xero

Go to Financials > Go to Xero Screen

Step 4

The credit note will appear in Xero > Go into the transaction via the reference.

Step 5

Fill in the details and then click Add Refund, ensuring you input the correct bank you are refunding from. If it is being returned via the custodial account then be sure to select it.

How to Set up your Deposit Custodial Account (Xero Users)

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