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Dynamic Minimum
Often, a rental store will want to collect a deposit or a percentage of the rental on a contract prior to the date of the event/use of the equipment. The ‘Deposits’ section on the ‘Drawers’ tab of Parameters can be set up to calculate what this should be. These values are prompted for on the counter system's payment screen. They are not mandatory collections and the user can always zero out the field. However, they also pass to the Consumer Portal to prompt for the deposit amount there.
Deposits
| ℹ️ Deposit and Days to Pay in Full also affect the amounts displayed to your customer in the QuikLink and Consumer Portal views, where payments are made. Deposits are always collected as Rental/Sale when payments are posted from QuikLink and Consumer Portal. |
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Minimum deposit |
This parameter sets the minimum deposit to collect. Setting it to 0 will disable the minimum deposit. This parameter will only go into effect if the contract has a deposit due. If no deposit is due, the minimum deposit parameter doesn’t take effect. |
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Maximum deposit |
This parameter sets the maximum deposit to collect. Setting to 0 will disable the maximum deposit. This parameter will only go into effect if the contract has a deposit due. If no deposit is due, the maximum deposit parameter doesn’t take effect. |
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Round deposit |
This parameter sets the rounding off on the deposit. For example, if the calculated deposit was $56.40 and the round deposit parameter was set to $10.00, then the required deposit would be rounded to $60.00. Setting to 0 will disable the round deposit. |
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Percentage deposit |
If filled in, this field would charge that percentage on each contract automatically and include tax, damage waiver, and other charges. |
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Sum deposits |
Checked means the standard deposits for all rental items on the contract will be added together to produce the total deposit to be collected. Unchecked means only the largest deposit among all rental items on the contract will be collected. |
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Collect Deposit as Rental\Sales |
This allows you to move the deposit for an item to the rental/sale amount on the contract payment screen. For more information on this feature, see this article. |
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Days to Pay in Full |
Elite Only Feature! This feature is available for versions 2025.03 and later. If there is a numeric value in the days to pay in full field, the deposit amount will be prompted for on the payment screen until the days are exhausted, and then it will prompt for the full amount due. For example, there is a $100 contract going out on 5/20/2025. In the deposit section, a 25% deposit is entered in the Rental/Sale field, and a value of 7 is entered in the days to pay in full field. Every time a user comes to the payment screen, $25.00 will auto-populate in the r/s field to prompt the user to take that amount until 5/13/2025. Once it is within 7 days of the contract date, the user will be prompted to pay the full $100. If there is a delivery date, it will be validated off of that rather than the contract date. |
To charge based on a percentage of the total amount
This would be used if you wanted to collect a percentage of the total contract amount to secure the rental.
For example, if 25% of the total amount is due, 25 would be put in the ‘Percentage of Rent/Sale’ field. You would also want to check the box to ‘Collect deposit as rental/sale’. The consumer would then be able to pay anything between 25% and the full value of the contract, but no less.
To charge a flat deposit fee
Flat deposit fees can also be collected this way, but will be taken as overpayments on the contract rather than into the deposit field.
To use this, deposits need to be entered for your items. Checking ‘Sum Deposits’ will combine the deposits from all the items.
This amount will then be forwarded to the Consumer Portal so the consumer can pay it in addition to the rental fee.
Desired Deposit
A desired deposit amount is the amount manually entered on the contract. It will be passed to the Consumer Portal for collection on top of the rental fee.
There is also a setting in the Consumer Portal Admin Panel where you can select or customize the message you want to appear to your customer.