You can automatically collect a security deposit when customers book on your Storefront or later on any subscription via the Backoffice.
Please note:
Deposits have no tax applied
Storefront Deposits only work on card payment bookings
Below, we've detailed how to create deposits and settle them upon move out (refund or withhold as required).
How to set up a Storefront deposit for a Unit Type
Press edit beside any Unit Type in your Backoffice, locate the Storefront security deposit section and turn it on. You'll then be asked to enter the amount you wish to charge for this deposit. A deposit will only be requested for any Unit Types which you have enabled deposits for and set a price.
This amount will be charged immediately upon booking, not on the move in day like subscription payments usually are.
How to set up a deposit for a subscription from the Backoffice
If you're creating a subscription from the Backoffice you must first create the subscription before being able to charge a deposit.
Once created, visit the subscription and scroll down to the deposit section. Here, press Set Up Deposit. You can then enter the deposit amount and select the card you wish to charge before submitting to collect the payment immediately.
If there is no card available, you can add one to the contact and then return to charge the card.
Settling a deposit
Deposits can be refunded in full, or partially, or withheld in full. To settle a deposit, visit the subscription and scroll down to the deposit. Press the ... beside it and select Settle deposit.
If you have yet to refund any of the deposit, you will be presented with 3 options.
Refund full deposit
Refund part of the deposit
Withhold the full deposit
Please note:
Once a deposit is refunded in full, no further settlement action is possible
You can place as many partial refunds as you like, as long as there is still part of a deposit available.
When a deposit is withheld in full or partially, it is counted as revenue.
You can charge a subscription set up with Direct Debit a deposit by first adding a payment card to the customer. You can then visit their subscription and charge the card a deposit.