Skip to main content

Adjusting and Making Changes to Security Deposit Balances

How to make adjustments to a tenant's security deposit balance, and to apply changes to it.

Written by Jimmy Chowdhury

Reducing the Security Deposit Balance

To reduce a tenant’s security deposit, create a Security Deposit Application.

  1. Click Tenants in the left navigation menu.

  2. Select the appropriate tenant.

  3. Click the Transactions tab.

  4. Click New.

  5. Select Security Deposit Application.

  6. Enter the details.

  7. Click Save.

Applying the Security Deposit Application to an Invoice

If the Security Deposit Application will be used to pay another invoice, you can apply it directly.

From the Transactions tab:

  1. Click the dropdown menu to the right of the Security Deposit Application.

  2. Click Edit.

  3. Click the Applied To field.

  4. Choose the invoice you want to apply it to.

  5. Save your changes.

Applying as Credits

You can also apply unapplied Security Deposit Applications from the tenant’s lease page.

  1. Go to the tenant’s Lease tab.

  2. Click Credits Available.

  3. Select Security Deposit Application as the credit type.

  4. Choose which Security Deposit Application should apply to which invoice.

  5. Click Apply to save.

Increasing the Security Deposit Balance

To increase the security deposit balance, create a new invoice with a Security Deposit item and receive payment for it.

  1. Click New Invoice.

  2. Select Security Deposit as the invoice item.

  3. Enter the amount and remaining invoice details.

  4. Click Save.

The balance will not increase until you receive the payment from the tenant.

Confirming the Adjusted Security Deposit Balance

To confirm the security deposit balance has been updated, click the blue tooltip button to view more tenant details. The Security Deposit amount will be shown there.

Only applied amounts from Security Deposit Applications are subtracted from the total.

Did this answer your question?