Refunding Bonds/Deposits held in the Client/Trust Account

Those located in Asia-Pacific will use the term Bonds, where customers located in Europe will use the term Deposits. For more information on regional terminology, refer to this article or contact support.

Before processing the refund of the bond, please ensure that there is a Tenancy Ledger set-up and assigned to the tenant. If no Tenancy Ledger is found for the tenancy, you will first need to set this up following the instructions below.

1. Go to Client/Trust Accounts main page.
2. Clicking into Tenancy Ledger Balance.
3. Clicking on the down arrow next to New Owners Ledger.
4. Searching for the Tenancy Name.
5. Click Save

If you wish to refund a Bond/Deposit held in the Bonds Ledger, please follow the below steps.

Select the relevant tenancy & Bonds/Deposits from the left-hand menu & then select Prepare to Refund using the ellipse.

1. Details of all invoices outstanding for the tenancy
2. Confirm the Amount to Refund to Tenant.
3. Enter the Amount to Transfer to Owner, if applicable. Please note, if there are outstanding invoices, do not select the amount here. ** Please refer to Step 4. 
4. Enter the Amount to Transfer to Tenancy Ledger in order to pay for the outstanding invoices or to be refunded to the tenant at a later date.
5.  Select Continue.
   
   

The options work as follows:

1. Amount to refund to Tenant.
   These funds will be available when running a disbursement that includes Bonds/Deposits.
2. Amount to transfer to Owner.
   This amount will be transferred to the Owner's Ledger and disbursed during to next Owners Disbursement. Transfers do not attract fees or show as income on reports.
3. Amount to transfer to Tenancy Ledger.
   This amount will be transferred to the Tenancy Ledger, where it can be applied to invoices. Any remaining funds can also be refunded to the tenant.
   
   

If the tenant is receiving a refund, update the Tenancy Invoice Contact with payment method and, if applicable, banking details, then run a Disbursement using a profile which includes Bonds.  The bonds to be refunded will appear on the same page as bonds to be lodged, in orange text so that they look different.