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Edit or Delete a Deposit Held on a Lease

Correct lease deposit mistakes.

Samuel avatar
Written by Samuel
Updated over 10 months ago

Overview

At some point you might realize you recorded a lease deposit incorrectly and need to edit or delete the deposit. The following steps will help you accomplish this.

The Steps

Edit a Deposit Held on a Lease

  1. To edit a deposit held on a lease, click Leasing on the main menu and then click Active Leases.

  2. Find the lease you want to edit a deposit held for and click on it.

  3. Click on the Transactions tab. There are several courses of action you can take from here:

    • If you recorded the deposit charge but did not receive a payment for the charge, you will only need to edit the deposit charge amount to the correct amount.

    • If you recorded a payment for the deposit charge, you may need to edit the payment, the deposit charge, or both. This depends on the outcome you are trying to achieve.

    • If you created a lease deposit charge but recorded a credit to the opening balance to pay off the charge because you were already holding the deposit money in your bank account, you may need to edit the deposit charge, the credit, and/or the applied credit connecting the credit to the deposit charge.

  4. Click on the 3-dots on the right side of the transactions that need editing and click Edit.

  5. When editing, change any necessary fields that are needed.

    (If you edit either a deposit charge or a credit to the opening balance that is attached to a $0 applied credit line, the date of the applied credit will change to today’s date to record that you made a change today. You can edit this $0 applied credit to change the date to match the deposit charge and credit if you’d like to keep these organized together on the lease ledger. )

  6. Add any relevant files and click Save.

Delete a Deposit Held on a Lease

The only reason you should be deleting a deposit held on a lease is if it was entered incorrectly and you want to start over.

  1. To delete a deposit being held on a lease, click Leasing on the main menu and then click Active Leases.

  2. Find the lease you want to delete a deposit held for and click on it.

  3. Click on the Transactions tab. There are several courses of action you can take from here:

    • If you recorded the deposit charge but no payment for the charge, all you need to do is delete the deposit charge.

    • If you also recorded a payment for the deposit charge, you would need to delete the deposit charge and also delete the payment.

    • If you created a lease deposit charge but recorded a credit to the opening balance because you thought you were already holding the deposit money in your bank account, you would need to delete the deposit charge and the credit to the opening balance. There is no need to delete the applied credit as that will be deleted on its own.

  4. Click on the 3-dots on the right side of the transactions you want to delete and click Delete.

    • Note that if the payment has already been deposited, you will need to edit the payment, click on the View Deposit button, and delete the deposit if you want to delete the payment.

  5. Add any relevant files and click Save.

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