The Payments tab is used to record a refunds and the return of security deposits. After selecting a tenant and if necessary property address, the total value of monies to be paid to the tenant should be entered into the PAYMENT TOTAL field. To the right of this exists the payment type drop down. This defaults to 'Tenant Refund', but three options exist:
- Tenant Refund - select this option when returning funds directly to a tenant that were originally received in relation to recurring charges, e.g. rent, management fees, service charges, etc.
- Benefit Refund - select this option when returning funds to a benefit agency that were originally received in relation to recurring charges, e.g. rent, management fees, service charges, etc.
- Return of Security Deposit - select this option when recording the return of a security deposit to a tenant.
In the case of Tenant or Benefit Refunds the funds specified in the Payment Total box will be automatically allocated to the recurring charge types based on the current charge schedule of the associated tenancy. The user can however redistribute these funds as necessary.
Before submission the following transaction details must be completed:
- Bank Account (select from the drop down list)
- Date (will default to current date)
The following optional fields may also be recorded: