Automatic Security Deposit Setup and Management

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Overview

Security Deposits can be set to be automatically applied to all new reservations. They are held in a Deposit Liability account prior to check-in and can be refunded to the guest before check-out. All Security Deposits/Bonds held are displayed in the Security Bond Ledger Panel, accessible via Accounts > Security Bond tab.

Prerequisites

  • Ensure the Security Deposits flag is enabled in Business Setup.
  • A Retained Security Deposit Product Group must be created before setting up any Security Products.

Steps

Business Setup

  1. Click on a Menu button.
  2. Select the Setup tab.
  3. Click on Business Setup.
  4. Click on the Preferences tab.
  5. Enable the Security Deposits flag.

Security Deposit Product Group Setup

  1. Click on a Menu button.
  2. Select the Setup tab.
  3. Click on Product Group Setup.
  4. Click Add.
  5. Enter the label: Retained Security Deposits.
  6. Press Submit and refresh the screen.
  7. Scroll up to the Product Setup panel and click Add.
  8. Enter the label: Retained Security Deposit.
  9. Select the group: Retained Security Deposits.
  10. Set GL Type to Revenue.
  11. Select Tax: GST.
  12. Press Submit to finalize.

Unit Type Policy Editor

  1. Click on a Menu button.
  2. Select the Setup tab.
  3. Click on Unit Type Policy Editor.
  4. Select the Security Deposit tab.

Security Deposit - All Unit Types

  • If the Security Deposit applies to all unit types:
  • Click Add.
  • Enter the label: e.g., Key Bond.
  • Select the product: Retained Security Deposit.
  • Define Policy Applicability: e.g., Rate Group or Rez Length.
  • Set Date Range at Check-In: select Between and enter date ranges.
  • Apply Tax to Calculations if applicable.
  • Enter Policy Fees: e.g., Flat Amount: $10.
  • Select when the Deposit is due.

Security Deposit - Individual Unit Types

  • If the Security Deposit is for selected unit types:
  • Select the Unit Type.
  • Click Add.
  • Enter the label: e.g., Key Bond.
  • Select the product: Retained Security Deposit.
  • Define Policy Applicability: e.g., Rate Group or Rez Length.
  • Set Date Range at Check-In: select Between and enter date ranges.
  • Apply Tax to Calculations if applicable.
  • Enter Policy Fees: e.g., Flat Amount: $10.
  • Select when the Deposit is due.
  • Press Submit to finalize the setup.
  • Repeat for additional unit types if necessary.

Reservations with Security Deposit(s)

  • After a new reservation is made, the system will direct the operator to the Charges/Payments tab to process the Security Deposit and any required deposits.

Handling Security Deposit(s) at Check Out

  • Before checking out, handle the Security Deposit(s) by:
  • Keeping: Select Keep. The amount is removed from the Security Deposit Ledger and applied to the product “Retained Security Deposit”.
  • Refunding: Select Refund. Process the refund through the Payment box, select Payment Type, and click Post and Submit.
  • Changing payment type: Select Chg and choose the correct Payment Type.
  • Converting: Select Convert to apply the deposit as a payment to the Guest Folio balance. Ensure the balance is greater than the Security Bond amount.

Troubleshooting

  • Ensure all steps are followed in sequence.
  • Verify that the Security Deposits flag is enabled in Business Setup.
  • Check if the correct product group and product are selected during setup.
  • Confirm that the date ranges and policy applicability are correctly configured.

For further assistance, click here to print the Help Document.