Navigate to Financials > Deposit Deductions
From the top right dropdown, select Funds due to owner
Populate the form with details of the amount to deduct
Ensure that 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
Click on the tick within the Include in deposit invoice
The funds will be credited to the landlord’s balance, available to pay out in the next payment run.
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 Landlord other income (tax applicable), 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.