Accounting Tab Deposits Tab Tasks Add New Deposit
This task is used to add a deposit other than the security deposit. It will create a scheduled item to be billed to the tenant either in one lump sum or in installments (frequency). Once billed, payments can be applied to the Open Item(s).
Examples: Pet Deposit, Key Deposit.
You are allowed to have more than one schedule per deposit balance type, but only one can be active. In the case you are trying to add a new schedule, and there is an existing active schedule for the same charge type (and household and unit), you should maintain that schedule rather than add another one. You will get the message "There is already an existing schedule for this charge type. Maintain the existing deposit schedule." This allows you to increase the amount of a security deposit, for example, without having to maintain an old deposit schedule, especially if it was added during the conversion of the community to Property Manager.
If a household rents an apartment and one or more amenities from the community, you can not add an amenity deposit with this task. This task will only allows you to add a deposit related to the apartment. To add a deposit related to the amenity, use the Add New Scheduled Receivables task from the Accounting Detail > General tab.
If the household is a non-resident who only rents an amenity, you can use this task to add a deposit related to that amenity.
The household must be living in a unit.
Any unique deposit types will need to be set-up in Charge Types.
Household Detail Accounting Tab Deposits Tab Tasks Add New Deposit
Payment Start Date: Enter the start date for the deposit. The system will pre-fill this field with the current date, however you may select another date by entering the date or selecting it from the drop-down calendar.
Type: Select the deposit type from the drop-down list.
Frequency: Select the frequency for the billing/payments from the drop-down list.
Payment Amount: Enter the amount of the billing/payments. If you selected the frequency of Once the payment amount will be the full amount of the deposit. If you selected another frequency, and the tenant will be making installment payments over time, this will be the amount of each installment billing/payment.
Total Due: Enter the total deposit due. If you selected the frequency of Once this should match the Payment Amount.
Initial Payment Amount: If you selected a frequency other than Once, and the first payment is more or less than the installment payment amounts, enter the initial payment amount.
Example: Frequency Monthly, Payment Amount $25.00, Total Due $500.00 and an Initial Payment of $75.00. The system will bill $75.00 immediately toward the $500.00 total due and $25.00 beginning on the next payment date every month until $500.00 has billed.
Calculated Entries - If you selected a frequency other than Once, clicking Calculate will display how many periods it will take to bill the total deposit based on the frequency you selected.
Click Finished.
An Overall Status window will pop up with a Passed or Failed message.
If it failed you may need to make a correction or contact Bostonpost Client Support at myMRI or contact a Client Support Analyst directly at (877) 579-8896 for assistance.
If it passed click Close.
The deposit will appear in the Scheduled Items section and the initial amount due or first billing will appear in the Open Items section if the date was current, or the first billing will appear in the Open Items section once the system reaches the Next date.
Q. How do I correct the deposit if I entered the wrong amount or dates?
A. Highlight the deposit in the Scheduled Items section and use the Maintain Selected Deposit task to correct the amount. If the Payment Start Date was entered incorrectly you will need to use the Delete Selected Deposit task and then add the deposit again using this task.
Q. The system bills the entire Security Deposit upon Move In but I would like it to be billed at another frequency. How do I change this?
A. If this is the case for all tenants at your community you should change your Security Deposit Method on the Program Info tab of the Community View. You may want to set it to Null and you can then add the security deposits manually after move-in and set them up as a frequency other than Once. If this is only an occasional situation then you will need to do the following tasks:
Correct Billing for Selected Deposit task to adjust the amount to $0.00
Delete Selected Deposit task to delete the Security Deposit scheduled item.
Add New Deposit task and choose a frequency other than Once.
NOTE: There can be no payments applied to the incorrect deposit prior to doing this correction.
Correct Billing for Selected Deposit