Manage Deposit on Lease Tab

Manage Deposit on Lease Tab

The deposit that will appear on the tenant statement will depend on the manner that deposits are managed on PropWorx. 
  1. Option 1: Deposits are held in the rental bank account – deposits will be journaled to the Deposit Holding account. The deposit held on the statement will show the values loaded on the deposit requirement fields. User requires updating the deposit required field on the lease tab to show the correct deposit on the statement.
  2. Option 2: Deposit are held in a separate trust account – these deposits will be imported through a bank statement import. The deposit balance will show the monies held in the bank. Interest will not be automatically calculated per deposit.  
  3. Option 3: Deposit is held in own investment account – these deposits will be imported through an investment statement import. The deposit balance will show the monies held in the investment account, with the interest incurred. 

1. Click Admin on the Main Menu. 



2. Click on Customer Files.



3. Select Rental on the menu heading.


4. Click on the File Name to open the file. 



5. Customer File will open. Click on Lease on the file tab ribbon bar. 



6. Lease tab screen will open. 
7. To edit details, click on Edit button.



8. The Deposit Requirement details allow the user to keep track of deposit requirements. (see How to manage deposit, deposit cashbooks & Investments)
  1. Deposit values will appear on your tenant charges screen to charge to the tenant statement.
  2. The values loaded under the lease tab can then be used to compare the deposit in a cashbook/investment versus deposit required.


The deposit on the tenant statement will appear as follows: 
  1. Option a) The total of the deposit values will appear as the Deposit Held on the tenant statement. 
  2. Option b) If the deposit cashbook is being imported, the amount held in the bank will appear as the Deposit Held on the tenant statement.
  3. Option c) If the deposit investment is being imported, the amount held in the investment will appear as the Investment on the tenant statement. 


9. To confirm changes, click Save Changes button.


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