Deposit to Rental/Sale Amount

Topics Included in This Article

• Collect Deposits as Rental/Sales Totals

• Apply an Existing Deposit to a Contract Balance

• Refunding the Deposit

Collect Deposits as Rental/Sales Totals

Turning this feature on allows the system to automatically apply collected deposits to the rental or sale total, reducing manual adjustments and calculation errors.

Configuration Setup

Follow the path below for your product.

• Expert: From Program Menu>>Configurations>>System Configurations>>Parameters>>Drawer Tab. 

• Elite: Configuration Gear > App Configurations > >Configurations > System Configurations > Parameters > Drawer tab.

Check the Collect Deposit as Rental/Sale box.

Item Setup

From within the Item record, you will need to enter a deposit for the item being entered on the contract. The deposit amount will only show in the rental/sale field from the deposit set in the item record.

How It Works

Once the item is added to the contract, when you go to the payment screen, you will see the deposit added to the rental/sale field.

Apply an Existing Deposit to a Contract Balance

How to move a deposit to the rental field:

1. Modify the Contract:

   1. Open the contract you wish to update and click “Modify.”
      

   2. Go to the Payment Screen by clicking “OK” to proceed to the payment screen.
      
       

2. Move the Deposit to Rental/Sale:

   1. In the deposit field, enter a negative amount equal to the deposit you want to move and select the same payment method that was originally used to take the deposit.
      
       

   2. In the rental/sale field, enter a positive amount that matches the negative amount entered in the deposit field. And again, select the same payment method.
      

Refunding the Deposit (if needed)

If you only want to refund the deposit and not move it to the rental/sale field, enter a negative amount in the deposit field and select the refund method you’ll use for the customer.