How to Pay Rent with a Security Deposit

Steps to Follow

Note: You must follow these steps even if you entered the security deposit at the beginning of the lease.

1. Go to the “Accounting” tab and the “Collections” subtab.

2. In the selector at the top left, select the unit you want to modify.

3. Click on “Invoicing” at the top right.

4. Make sure that the invoice is assigned to the right company, property, and unit.

5. Tick “Lease” in the “Assignation” column.

6. Type “2115 – Cashed Deposit” in the “Account” section.

7. Describe the deposit in the “Description” section (example: “reimbursement of a security deposit”).

8. Enter the amount of the deposit as a negative amount.

9. Select the date of the deposit (the first day of the month that will be paid with the deposit).

10. Click on “Finish.”

11. In the “Collections” subtab, find the collection that will be paid with the deposit.

12. In the row for the deposit, enter the date of payment, the original payment method of the deposit, and the negative amount of the deposit. A new row will appear; ignore it.

13. In the row for the rent payment, enter the date of payment, the same payment method as the deposit, and the positive amount of the deposit.

14. Click anywhere to update the balance.

You have now paid rent with a security deposit.