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Bonds Returned from Administrator

Bonds Returned from Administrator

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Bonds Returned from Administrator

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Firstly : Calculate how much is required to get back from the Administrator based on outstanding rent and outstanding accounts & request these funds from the Administrator.



pic 1 bonds


When Bond funds are returned from the Bond Administrator there are 3 basic steps to follow.



Step 1.


Once funds are received do a Tenant Receipt as Bond from Tenant. (DO NOT ALLOCATE TO THE OUTSTANDING RENT OR ACCOUNTS)


pic 2 bonds


Select Instant Account / Bond from Tenant / Accept and Continue


pic 3 bonds


pic 4 bonds


Note: Receipting this way enables you to supply a "Bond Statement" for the Tenant showing where their bond funds have been allocated.


Step 2.


Proceed to Bond Tab under Tenant Detail Screen and edit the Bond in Admin/Old Account. Add the date the bond was returned and zero out the amount in Admin/Old Acc.

(This then will not show in the Bond Listing that you have funds at the Administrator.) The Administrator will return the remaining funds to the tenant.

You will notice there are funds in the top section.This is correct as this is where the bonds are allocated from when you distribute bond funds in step 3.






Step 3.


Proceed to Bonds & select Distribute Bond Funds.


pic 6 bonds

You receipt the amount received back and allocate to the outstanding rent and outstanding accounts.


pic 7 bonds




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