How To Apply a Credit to the Security Deposit

When a tenant has a credit balance showing in Tenant Activity, it can be applied to their security deposit using the following steps.

Cash Receipt Entry

Record the use of the credit balance:

NAVIGATION: ACTIVITIES menu > Cash Receipt Processing > Cash Receipts

  1. Batch Number and Sequence Number should be left blank as the system will assign them
  2. Select the Tenant Number or Last Name of the tenant who has a credit balance
  3. Enter the Transaction Date.  The date must be within the current accounting period.
  4. Enter or select the Transaction Code of 01-00 or a code that will remove the credit for the appropriate code
    1. For example:  if the credit is for Utility Reimbursements, select the Utility Reimbursement code.
  6. Enter the payment amount as a negative number for the amount of the credit.
  7. Enter an appropriate reference
  8. SAVE

Record the application of the credit balance to the Security Deposit:

  1. Enter a second cash receipt for the same tenant.
  2. Batch Number and Sequence Number should be left blank as the system will assign them
  3. Select the Tenant Number or Last Name of the tenant who has a credit balance
  4. Enter the Transaction Date.  The date should be the same as the one used to remove the credit balance.
  5. Enter a Transaction Code of 02-00 to record the payment to the Security Deposit using the credit balance
  6. Enter the payment amount as a positive number to record the transfer of the credit balance to the security deposit.
  7. The two transactions will not affect your bank deposit balance as they will cancel each other out since one is a credit and one is a debit for the same amount.

Review the Edit List

NAVIGATION: ACTIVITIES menu > Cash Receipts Processing > Cash Receipts Edit List

  1. Select the Area Number
  2. Select the Community Number
  3. Check the Create merge Interface box if you will be sending out batch letters using Build From Last Report.  Leave the box unchecked if you will not be using the Print a Batch Letter program.
  4. Preview or Print the edit list and review

Post Cash Receipts

NAVIGATION: ACTIVITIES menu > Cash Receipt Processing > Post Cash Receipts

  1. Select the Area Number
  2. Select the Community Number
  3. Enter or select the Deposit/ACH Date
  4. Press the POST button
  5. Print out the Transaction Register for your records

12/2021

NEED MORE HELP?  Submit a ticket to the Help Desk or call (814) 535-7810 or (800) 889-3388