Deposits and settlement

A tenant's deposit is set when you onboard them, and held until they move out — at which point you settle it, deducting anything owed and recording the refund.

Steps

1. When you onboard a tenant, set their Deposit (₹) — this is what you're holding for them.
2. To settle it, first Move out the tenant from their page's Actions row.
3. On the tenant's page, find the Deposit card and enter any Deductions (₹) and a Note explaining them.
4. Select the Settled on date and select Settle deposit — the refund amount is calculated for you.

Good to know

• You can only settle a deposit after the tenant has moved out.
• The refund is the deposit minus your deductions (never less than ₹0).
• A deposit can only be settled once; the Deposit card then shows the deductions, refund, and Settled on date instead of the settlement form.
• The tenant is notified of their refund amount once you settle it.

Related

• Shift, notice, and move-out
• Onboard a tenant
• Accounting