How to add Security Deposit to a Contract?
Adding a security deposit is an essential part of managing tenant contracts. You can manually add a security deposit in two ways: with an invoice or without an invoice.
Step 1: Navigate to the Contract Detail Page:
- Access the Contract Detail Page: Begin by navigating to the Contract Detail Page for the specific tenant.
- Find the Box Information Section: Find the Box Information section on the Contract Detail Page.
- Locate the Three-Line Icon: On the right side of the Box Information section, you will see a Three-Line Icon (also known as a hamburger menu).
- Click the Three-Line Icon: Click on the Three-Line Icon to reveal a dropdown menu with various options.
Step 2: Select "Add Security Deposit":
From the dropdown menu, select the "Add Security Deposit" option. Choose Between Two Options:
Option 1: Security Deposit with Invoice:
- After selecting the "Security Deposit with Invoice" option, you will be redirected to the Invoice Creation Page
- On the Invoice Creation Page, click on the "Add Item" button. This will open a pop-up screen.
- In the pop-up screen, enter the security deposit amount (excluding tax) and quantity in the designated field.
- You have the option to enable or disable the payment link feature. If enabled, a payment link will be included in the invoice email, allowing the tenant to pay the security deposit online.
- Once all the details are entered, click the "Save" button to finalize and create the security deposit invoice.
Option 2: Security Deposit without Invoice:
- Choose this option if you want to simply make a note of the security deposit without creating an invoice.
- A pop-up screen will appear where you can fill in the following details:
- Reference Name: Enter a reference name for the security deposit.
- Payment Mode: Select the payment method used for the deposit.
- Transaction Date: Choose the date of the transaction.
- Amount: Enter the amount of the security deposit.
- Is Refundable (Optional): Enable or disable this option depending on whether the deposit is refundable. You can also add any relevant comments.
- After entering all the necessary information, click the "Save" button to record the security deposit.
By following these steps, you can efficiently add a security deposit to a tenant's contract, either with or without an invoice, ensuring that the financial aspects of the contract are properly managed.
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