Transfer Deposits

On the Deposit listing, we can see the new Transfer button, to Transfer an existing Security Deposit.

Clicking on the Transfer button we will be redirected to the new Transfer Security Deposit screen.

• New Deposit section

The first section is the New deposit creation, where the same Tenant of the old Deposit will be prepopulated and the User will need to choose the Property, Unit, Lease, and Deposit type of the new deposit.

The Transaction Date, Accounting Date, Item ID, and Invoice Amount will be completed by the user as well.

As with any deposit today, this new deposit will be created in Order Entry as an Invoice.

• AR Adjustment section

The AR Adjustment section would display the old Deposit information, displaying the Lease Name, Tenant Name, Unit Name, Type, and Refundable Amount, the user would need to enter the Adjustment Date, Liability Account, and Adjustment Amount. A similar process to when we apply a Deposit.

The AR Adjustment would create an Adjustment, with the same process as the apply process does today. This Adjustment will be created in the AR/Adjustment section in Intacct, the amount of the Adjustment will be entered by the User and will not be greater than the Refundable amount displayed.

Once the Adjustment is created, it will be applied to the new Deposit created before and will be marked as paid in AR Adjustments.

The new deposit is listed in SIRE with the amount of the adjustment applied.

The third step of the process is that the Adjustment created is applied to the new deposit and the New deposit is displayed in SIRE as Paid or Partially Paid, the amount of the adjustment will be 100% applied to the new deposit.