You can configure interest settings on Refundable Deposits directly at the Property Level. This allows the system to automatically prefill interest details whenever a Lease is created for that property.
Where to Set It
Navigate to the Deposit tab on the Property screen.
You’ll see a new Interest Setup icon enabled next to any Refundable deposit type.
Why Set Interest at the Property Level?
When a refundable deposit is configured with interest at the Property level, any new Lease created under that Property will automatically inherit the interest setup. This means you won’t have to re-enter the same details for each lease.
The Interest setup is not mandatory.
How to Configure Interest
Click the Interest Setup icon to open the interest configuration modal:
|
Field |
Description |
|---|---|
|
Interest Rate |
Select from predefined interest types created in the Interest Rate Setup menu. You can also define custom types under My Preferences. |
|
Interest Basis |
Choose how interest is calculated: - Actual Days: Uses the real number of days in each month. - 30-Day Month: Assumes each month has 30 days. |
|
Interest Liability Account |
The GL account used to track the liability side of the accrued interest. |
|
Interest Exp/Clr Account |
The GL account used for recognizing interest expense and/or clearing interest. |
|
Compounding Frequency |
Choose how interest compounds over time:
|
Additional Notes
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These settings are only applicable to Refundable deposit types.
-
Interest settings applied here will automatically populate when adding deposits to leases under this property; however, they can still be edited at the lease level if needed.
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This setup ensures consistency across all leases tied to the property while reducing manual data entry.
This guide continues in the following document: Settings Deposit Interest on Leases