Setting Up Security Deposit Profiles

When setting up security deposit profiles, you need to add the basic profile information, and then set up and associate the profile to a deposit policy (or set of rules).

Tips and Hints:

You cannot have multiple profiles per development, but you can have multiple policies for the same account type and time period per profile. This results in interest only being applied once for each policy in monthly processing.
In order to delete a profile, all developments must be removed from the profile first. Also, all account types must be removed from a policy in order to delete a policy. Once a profile or policy has been used, they cannot be deleted. (Removing all developments and/or account types, however, will make them “inactive.”)

Click SETUP on the Main Menu screen. On the Receivables Setup screen that appears, select the Profiles and Policies tab and then click SECURITY DEPOSITS. The Browse Deposit Profiles screen opens with all available security deposit profiles displayed in a table.

Click

on the toolbar. The Add Deposit Profile Wizard is initiated.

Enter a descriptionto identify the profile and then check the checkboxes of the developmentsyou want to include in the profile.

This is your agency-defined list of developments, which you maintain in the Setup area of the program. See "Setting Up Developments"

Note: You are only able to have one profile per development. If another profile is added that includes a development for which there is already a profile, the first profile will have that development removed.

Click NEXT, review the profile information, and then click FINISH to save and add the new profile. The Maintain Deposit Profile Setup screen appears with the Main tab selected.

Select the Deposit Policies tab and click

on the toolbar. The Add Deposit Policy Wizard is initiated.

Enter the name for the deposit policy in the description field and select the type of calculation to use from the drop-down list.

Check the checkboxes if you want to allow payment plans, allow amount overrides, or make the deposit optional.

Note: If you choose to allow payment plans, the appropriate receivable transactionThe type of charge or credit memo.s are applied to the tenant's security deposit account for you to then receive from the tenant.

Enter the maximum number of payments allowed that a tenant can make in order to satisfy the deposit, enter the deposit amount, and then the deposit percentage.

If necessary, check the checkbox to either calculate the security deposit by the number of bedrooms, or by the number of pets.

10.

Click START, review the policy’s information, and then click NEXT and then FINISH to add the new policy. The Deposit Policies tab of the Maintain Deposit Profile Setup screen appears again.

11.

If you are calculating the security deposit by the number of bedrooms, click the MAINTAIN BY BEDROOMS button at the bottom of the screen; or, if you are calculating the deposit by the number of pets, click MAINTAIN BY PETS. Depending on what you choose, either the Maintain Deposit Policy by Bedrooms screen or Maintain Deposit Policy by Pets screen opens.

Hint: You can also click on the toolbar and select the appropriate action to access these screens.

12.

Click

. The deposit profile and deposit policy you just added is displayed at the top of the screen.

Note: The deposit policy that is highlighted on the Deposit Policies tab of the Maintain Deposit Profiles screen is the policy you are working with.

13.

Enter the number of bedrooms and the security deposit amount for that number of bedrooms in the textboxes.

14.

Click

to save your changes. Click

to exit and return to the Maintain Deposit Profile Setup screen.