How do I take a security deposit and refund or deduct from it?

A deposit is not income; it is money you hold in trust and either return or deduct from. That is why it has its own screen inside the contract and a global list showing everything you are holding.

Taking the deposit

1. Open the contract and press Security deposit — Figure 1.
2. Enter the amount, the payment method and the received date, then press Receive.
3. The deposit status becomes received and it shows among the amounts you hold.

At contract close

1. To refund in full: press Refund and enter the whole amount.
2. To deduct: press Deduct, enter the amount and the reason (damage, violation, missing fuel), then refund the remainder.
3. The status becomes refunded or partially refunded depending on what you did.

Tracking every deposit

Open Vehicle Rental → Security deposits — Figure 2 — to see everything received, refunded and deducted in one place, and to export it when you need to.

Notes

• Never mix the deposit with a rent payment; the first is held in trust and returned, the second is income you have earned.
• A deduction with no written reason is a deferred argument with the customer, so always write one.
• Refund the deposit as soon as the contract closes; money left hanging shows in your books as a liability, not as cash of yours.
• Review the deposits list monthly to catch closed contracts whose deposits were never returned.