Prepare Deposit Refund

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This task is used to transfer part or all of a deposit that is on hand, to the Household Detail > Accounting > Receivables Tab, in order to apply it to outstanding receivables or refund it to the tenant.

Prerequisites:

There must be a deposit in the Balance On Hand section to be refunded.

How do you get here?

Household Detail Accounting Tab Deposits Tab highlight the deposit you want to transfer in the On Hand section Tasks Prepare Deposit Refund

To Prepare a Deposit Refund:

The following fields will be pre-filled by the system and appear in gray, as they cannot be changed:

Deposit Type

Balance

Enter the following information:

Effective Date: Enter the effective date of the transfer deposit 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.
Amount: Enter the amount you want to transfer. The system will pre-fill this field with the deposit balance but you may enter any amount up to the balance.
Note: You may enter a note of explanation. This field is optional.
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.

Expected Result:

A Transfer Deposit event will appear in Event History on both the Deposits and Receivables tabs, a credit balance for the amount of the deposit refunded will appear in the Open Items section on the Receivables tab, and the deposit balance will no longer appear in the Balance On Hand section on the Deposits tab.

Frequently Asked Questions:

Q. How do I apply the deposit to outstanding receivables due from the tenant?

A. After you have transferred the deposit to the Receivables Tab using this task use the Apply Credits task on the Receivables Tab to apply the deposit credit to outstanding Open Items.

Q. How do I refund the deposit to the tenant?

A. After you have transferred the deposit to the Receivables Tab using this task use the Refund Selected Receivable task on the Receivables Tab.