Navigate to Financials > Deposit deductions
From the top right dropdown, select Outstanding rent
Populate the form with details of the amount to deduct
Ensure Draw down from deposit held in your account is selected (shown below)
Click Submit
When the deposit return is paid into the client account
Assign the funds to the property as Deposit in
Navigate to Financials > Deposit deductions
Click on the tick within the Deduction agreed column
Click on the tick within the Include in deposit invoice column
The funds will be credited to the tenant’s ledger, offsetting against any rent owed. If you need to change which rent period the funds are assigned to, you can follow the steps here.
Note: When the deposit is deducted, the system automatically assigns this rent with the percentage management fee set in the Property record. If no management fee should be taken, please update the property record before processing the deposit deduction.
Users with Guaranteed Rent Accounts
This process is designed to conveniently allow users to assign deposit returns to cover rent arrears. However, due to account restrictions on Guaranteed Rent balances, we recommend bypassing this for guaranteed properties. Please assign the funds directly to Rent in (Guaranteed), where this pertains to Guaranteed properties.
If you wish to enter a deposit deduction for recording purposes or to create an invoice, please use For recording purpose only on the relevant dropdown.