Creating a New Deposit

Starting the Deposit Creation Process

To create a new deposit record:

1. Navigate to the Deposits section
2. Click the Create a deposit button in the top right corner
3. Complete the required information in the creation form

Required Deposit Information

When creating a new deposit, you'll need to provide:

• Reference: A unique identifier for the deposit
• Property: Select the property this deposit is associated with
• Tenancy: Select the tenancy this deposit is associated with
• Interest rate : Select which interest rate should apply (if any)
• Interest beneficiary: Specify who receives any interest earned (Tenant, Landlord, Agent)
• Agreed amount: The total deposit amount collected

Deposit Requests

After creating the deposit record, you can generate a deposit request to track payment:

1. From the deposit details page, click Add deposit request
2. You'll see a summary of the deposit information (Reference, Property, Tenancy, Interest accrued, Agreed amount)
3. Choose one of the following options:
   • Start new invoice: Generate a new invoice for the deposit amount
   • Search for existing invoice: Link an existing invoice to this deposit request
4. Click Add deposit request to create the record
5. The new request will appear in the Deposit Requests section with a unique number, reference, status, amount due, and paid amount
6. The invoice status will show as paid when the deposit payment is received

Best Practices for Deposit Creation

• Create deposit records as soon as a tenancy agreement is signed
• Use consistent reference naming conventions for easy identification
• Confirm the deposit amount matches what's specified in the tenancy agreement
• Add deposit protection immediately after creating the deposit record