Accounting Tab Deposit Tab highlight the deposit you want to forfeit in the Balance On Hand section Tasks Forfeit Deposit
This task will forfeit a tenant’s deposit and create a GL entry to move it out of your liability account into your Forfeit/Write-off deposit account.
This task is used only when the entire deposit is going to be kept by the company. There will be NO opportunity to apply any portion of the deposit to outstanding A/R balances or refund it to the tenant. If you need to apply or refund the deposit DO NOT use this task.
Household Detail Accounting Tab Deposit Tab highlight the deposit you want to forfeit in the Balance On Hand section Tasks Forfeit Deposit
Effective Date: Enter the effective date of the forfeit event. The system will pre-fill this field with the current date, however you may select any date prior by entering the date or selecting it from the drop-down calendar.
Note: You may enter a note of explanation. This field is optional.
Check the box in the Forfeit column next to the deposit(s) to be forfeited.
Click Finished.
An Overall Status window will pop up with a Passed or Failed message and display any GL entries that were created.
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.
A Writeoff/Forfeit event will appear in Event History and the forfeited deposit will no longer appear in the On Hand section.
Q. Where do I assign the Writeoff/Forfeit GL accounts?
A. Charge Type Setup
I forfeited the deposit but I need to apply it to outstanding A/R balances - how do I fix this?
