This article looks at two scenarios
In this scenario you collect the deposit on behalf of the owner and then pay it across. The deposit needs to be added to the property owner statement to reflect the deposit being transferred to the property owner.
Go to Financials > Analysis Codes
Add analysis code > Name it ‘Registered deposit to Property Owner’ > make it a Charge, Credit > Map to Tenant Deposit liability in Xero > Select Property Owner and PO Statement.
Got to Tenancies > Statements > PO Statement > Add Transaction
Select the Transaction type you just created and fill in the details > then save the transaction and the deposit will now show on the property owner statement.
This transaction will then appear on the property owner statement.
You can now remit this to the property owner. This is linked to how to pay the property owner
In this scenario the property manager takes receipt of the deposit, and thn pays it across to the owner
Go to the Tenancy > Tenant Deposit Statement > Add transaction.
Add the Registered Deposit charge and click save.
Pay off the Registered Deposit charge when it’s received.
Follow the steps in Scenario 1 to the add the credit to the property owner statement when you have transfers the deposit to the owner, this shows money has been paid to them.
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