Reversing Transfer Deposit to Rent

To get money into Rent requires a receipt, and moving funds out of Tenant Deposit requires either a Journal or Payment.

Transferring a tenant deposit to rent Gateway creates a cheque payment to move the funds out of Tenant Deposit, then creates a receipt to put funds into Rent. To reverse the transfer of deposit, you need to reverse both of these transactions.

The image below shows the list of Tenant Transactions that make up receiving and transferring the Deposit to Rent.

  1. Receipt crediting funds to Tenant Deposit.  (Details: Deposit from Tenant)
  2. Cheque paying funds out of Tenant Deposit. (Details: Transfer Deposit to Rent)
  3. Receipt paying funds into Rent (Details: Rent from/to dates)
  1. To reverse the Transfer Deposit to Rent, double-click the Cheque payment entry (Details: Transfer Deposit to Rent).
  2. Click Reverse.
  3. Enter a brief description for the reverse (check with your auditor, if required).
  4. Go to the Receipt and double-click to open
  5. Click Reverse.
  6. Enter a brief description for the reverse (check with your auditor, if required).

Once both Transactions are reversed, the funds will not show in the owner file as Rent but and will show in the Tenant Deposit file.

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