If you wish to refund a bond from the tenancy that has been held by a 3rd party please follow the steps below



Select the tenancy & Bonds from the left-hand menu & then select Prepare to Refund using the 3 lines


 


1. Details of all invoices outstanding for the tenancy

2. Confirm the amount that is to be refunded to the tenancy directly by the 3rd party

3. Enter the amount that is to be refunded directly to the owner's ledger- please note if there are outstanding invoices do not select the amount here please see step 4. 

4. Enter the amount that is needed to be transferred to the tenancy ledger in order to pay for the outstanding invoices or to be refunded to the tenant at a later date. 


An income invoice will be raised for the amount which will be received in trust.  Save and Approve it to proceed with processing the refund.


Once funds are reconciled to the Bond Refund Income Invoice:

  • Tenant refund portion will be available to disburse, update the Tenancy Invoice Contact with payment details, and then process a disbursement using a profile that includes bonds.  The refunds will show on the same page as bonds to be lodged, the text will be orange instead of black so you can tell them apart (see image below).
  • The transfer to the owner portion will be transferred to the property ledger from the bonds ledger.  It will show in the 'Transfers' section of the owner statement.
  • The transfer to tenancy ledger portion will be transferred to the tenancy ledger from the bonds ledger.  View the tenancy ledger for options to apply these funds to invoices or refund.