This article explains how to register and pay a deposit out if you use Street for your Client Accounting. For more information on how to register a deposit without Client Accounting, see this help article.

Before you can register a deposit, you must have a fully allocated deposit charge on the tenancy ledger. If the deposit status is 'awaiting payment' head back to the tenancy ledger to review the accounts. For more information, see our Adding a Deposit (With Client Accounting) help article.

Once the deposit charge has been fully allocated head back to the Deposits tab on the tenancy page and click Register to enter the deposit registration number and optionally upload the deposit certificate. This process is the same whether the deposit is custodial, insured or held by owner.

Once registered the deposit status will update to either 'to pay' (if Custodial or Held by Owner) or 'held' (if Insured) and you can move onto the payment stage.

The process for paying a deposit will depend on the scheme type.

If the deposit is a Custodial scheme type you should head to the Payments to Make > Deposits page where you will see the payment to the scheme waiting to be processed.

From here you can follow the usual payments to make workflow of selecting the payment, selecting the correct bank to pay from and processing the payment. This will generate a payment file that you can use to instruct your bank to make physical payment.

With the deposit paid to the scheme, it can wait in the 'Paid into Scheme' status until you need to process the deposit refund.

If the deposit is an Insured scheme, you won't be processing a payment to a scheme as you will be holding the deposit in one of your bank accounts so the only thing to check is what bank you will be holding the deposit in.

If the deposit is staying in the account it was received into, typically the client account, then there is nothing else to action and the deposit can wait until you need to process are deposit refund.

However if you have a dedicated deposit account that you transfer deposits to, you should use the 'transfer to deposit account' button.

From here you can create a transfer within Street which will update the 'account held in' field to be the deposit account and when you make the transfer physically you can reconcile the transfers.

With the deposit in the correct account, it can wait in the 'Held' status until you need to process the deposit refund.

If the deposit is a Held by Owner scheme, instead of going to payments to make you will need to go to the Allocate Funds page. This is because when the deposit charge was allocated to, the money moved from the tenancy ledger to the owner ledger.

From the Allocate Funds page you will follow the normal workflow of allocating the deposit money to the owner and then going to Payments to Make > Owners to pay the owner and generate a payment file.

With the deposit paid to the owner, it can wait in the 'Held by Owner' status until you need to process the deposit refund.

Regardless of the type of scheme, by now the deposit should be processed and stored correctly. The next step would be to process a refund when needed. For more information, see our Refunding a Deposit (With Client Accounting) help article.