Reducing the Security Deposit Balance
To reduce a tenant's security deposit, property managers need to create a Security Deposit Application.
Creating a Security Deposit Application
Go to the Accounting > Tenants page and select the appropriate tenant
Select the Transactions tab on the tenant's page, and click the green "New" button located on the right
Choose Security Deposit Application from the dropdown menu.
Enter the details, and click Save
Applying the Security Deposit Application to an Invoice
From the Transactions tab
If this Security Deposit Application will be used to pay another Invoice, you can click on the "Applied To" field when creating the Security Deposit Application and choose the Invoice to apply it to. You can also edit it after creation by clicking on the 3-dot menu on the right, and clicking "Edit".
Applying as Credits
You can also apply any unapplied Security Deposit Applications from the Lease tab of the tenant. Go to the Lease tab and then click on the "Credits Available" message
Here, you will be able to select which Security Deposit Application to apply to which Invoice. After making the selections, click the Apply button on the bottom right to finish and save.
Increasing the Security Deposit Balance
To increase the security deposit balance, you will need to create a new invoice with a Security Deposit item and receive a payment for it. You can do this by first clicking "New Invoice"
And select "Security Deposit" as the item type, input the amount, and press the Save button.
Note that this will not add to the security deposit balance until you receive the payment from the tenant.
Confirming the Adjusted Security Deposit Balance
To confirm that the security deposit balance has been updated, you can click on the blue tooltip button to see more information about the tenant. There, you will see the Security Deposit amount. Note that only applied amounts from Security Deposit Applications will be subtracted from the total.
