How to Record a Deposit

Introduction

Deposits are fees that customers usually pay whenever they're renting a resource for a set period of time, e.g an office. They're meant as proof of intent to move in and care for the space that the member/company is going to occupy.

Recording a Deposit

There are currently a couple of ways to record a deposit, regardless of which one you use, the one-off fee that is recorded in the system will receive the Deposit tag when invoiced, and will be allocated to the default deposits revenue account.

  • Create a billing plan where its account is set to be the default revenue account used for deposits.
  • Add a manual fee, then enable Bill in advance and Refundable:

    s1.PNG

  • You can specify a deposit for each particular resource. This way, when you're assigning a membership, the deposit field will be automatically pre-filled with the deposit amount entered for that specific resource.
    addpf.png
    Note: This amount can be overridden when assigning a membership/creating a contract for that membership. More on that in the next part of the article.

    addls.png

    sel disc.png

  • When assigning a membership that uses a billing plan which has a type of "Private office" the system will automatically add a Deposit field where you can enter the desired amount.
    Once you're done assigning the membership, the deposit will be automatically created as a one-off fee under the company/member's profile.

Next Steps

Was this article helpful?
0 out of 2 found this helpful
Was this article helpful?

Comments

1 comment
  • Hey team, how do you edit a deposit once you've saved a membership but not invoiced it? When I reopen the membership the deposit section is no longer visible. 

    0

Please sign in to leave a comment.