Move Deposit to Tenant Ledger

Easily document when funds have been moved from a security deposit bank account to cover tenant charges (e.g., rent or damages) during a tenancy or upon move-out.

Move Deposit to Tenant Ledger

The following steps walk through moving a To credit a tenant the amount or portion of their security deposit to their tenant ledger, follow these steps. 

In your Rentec Direct account: 

1. Click on Tenants 
2. Right-click on the tenant and select View Ledger 
3. Click On Deposit
4. Under What would you like to do? check Move Deposit to Tenant Ledger 
5. Enter the actual Date and Amount funds were moved from the bank holding security deposits to the appropriate account 
6. Select the applicable income Category you wish to apply the funds to (e.g., for rent, damages...)
7. Select the From Bank Account  the deposit was being held in and the To Bank Account it was deposited into
   
   Note: Because this transaction is typically associated with a property, the tenant will need to be placed into a property in order for credit to be applied to the property ledger; if the tenant is "inactive," the credit will not post correctly but will be debited from the holding bank account.
8. Add a Memo as needed
9. Click on Save Changes