Legacy Security Deposit Reports
On November 24th, 2020 the Rentec system was updated to link all security deposits to their respective properties. Previously, security deposits were linked only to a tenant. The database was also updated to link all historic security deposits to a property, where applicable.
System Note: If a tenant is moved into more than one property, you will now notice that you are presented with a property selection when entering the security deposit register. If you have unlinked tenant security deposits (where no property could be automatically linked), you will see an unaffiliated row. You can enter that ledger and migrate those unaffiliated deposits to the appropriate property at any time.
The reports that show security deposits held were also updated to use the new property links to improve report accuracy. The reports that were modified are:
- Tenant / Current Deposits A
- Tenant / Current Deposits B
- Financial / Trial Balance B
- Financial / Account Ledger A*
- Financial / Account Ledger B*
* Only applicable if the advanced setting for showing security deposit entries is enabled.
When selecting a property or owner for many of these reports, the system would use a best-guess algorithm to match the tenant's security deposits to the appropriate property or owner. Now the security deposits are directly linked to the appropriate properties, so the system no longer needs to use an algorithm to guess, making the reports that much more accurate.
How to Access the Legacy Reports
If you run a report today for a date in the past, the report will be more accurate but may differ from reports previously ran. Because this update changes historic reports, if you need access to the legacy security deposit reporting, please follow these steps.
In Your Rentec Direct account:
- Click Settings
- Under Program Settings click Program Defaults
- Click the edit advanced settings link at the bottom of the page
- Enable the option (Legacy) Use legacy security deposit reports?
- Click Save Changes
- Re-run the report. The old algorithm that uses the best guess algorithm will be used.
Important Note: Remember to disable this legacy setting when done to ensure you have the most accurate security deposit reports available moving forward.