Manage Deposits

The deposit management area has been designed for you to manage the deposits for which you are responsible effectively. When a deposit is charged (detail can be found within the Tenancy Setup area), you are asked if the deposit is going to be registered with/paid into a scheme by the agent, held by the agent or held by the Landlord. Only deposits that have been charged with the first option ticked will appear on the Deposit Management Page which is accessed via the top Finance drop down menu and Manage Deposits

This will open the following window:

1. The top area of the report can be used to filter the deposit records that you wish listed together with a sort tool. (Please note that you need to click Filter if you change any of the fields).
2. The table shows all information that you would require regarding the deposit including contact details for the tenants. You are also able to open links to the landlord, tenancy and applicant by clicking on their names within the table rows.

To see the deposits that you need to protect/register with a scheme:

1. Ensure the filter is set to show "Deposits to be Paid Into or Registered With Scheme".
2. Click 'Pay/Register With Scheme' for the deposit you would like to process, which will open the above window.
3. Select if you are paying into a scheme or registering the deposit with one.
4. The transaction date will automatically populate with today's date but is amendable. Choose which bank account the money will be transferred from. 
5. You can now enter the the deposit/scheme reference which you should have from processing the protection or registration on the deposit scheme website, together with confirmation of the deposit amount. 
6. If you are protecting a deposit with a scheme into which you will be transferring the funds to a third party then you may wish to Archive the deposit as any refunding of the deposit will be processed via the third party website. 
7. Finally click Save.

You are able to filter to show deposits that you have received/protected/archived by clicking Deposit Paid into Scheme or Refunded in the Show drop down. 

If you have paid a deposit to a scheme then you will only have the option to Archive a Deposit or Add a Note. This is because you would use the scheme to manage the deposit refunds rather than EA. You are able to add notes though to keep a log of the process, by clicking Add A Note you are able to create an event on the tenancy. Alternatively by clicking Archive Deposit, Expert Agent will open a pop up window asking you to confirm this action.

With a deposit that has been protected but kept by the agent you have the option to manage the refund through EA. With the "Deposits currently registered with Scheme" showing:

1. Click Refund Deposit, which will open a pop up window
2. Select the date you wish to log the refund process as being authorised, as well as which account you wish the funds to be placed into. 
3. Log the break down of the deposit refund 
4. Clicking the save icon will process the funds allocated to the landlord and the tenant to appear on their record as unallocated funds. You can then  issue a refund to the tenant - Issuing Refunds.