Install Doc

Security Deposits

This page will explain how to enter, maintain and report security deposits entered into the Property Manger. The following steps will be explained:

1) Create a Security Deposit charge code.

2) Apply Security Deposits to a tenant through Tenant Maintenance.

3) Adding/Maintaining Security Deposits through the "Tenant Deposits" screen.

4) How to print "Security Deposit" information.

5) Compound interest on security deposits.

6) Transfer Security Deposits to the General Ledger.


1) Create a Security Deposit charge code. Select Property Manager on the menu (left pane). Then select Setup -> Charge Codes. Add a charge code for security deposit. Be sure to change the "Charge Code Type" to "Security Deposit". If interest is to be paid on this security deposit, check the box  after "Charge Interest" and enter the annual interest percent in the "Interest Percent" field. Enter the appropriate General Ledger accounts in the "G/L Interest Account" and "Cash G/L Account".
Here is the setup screen from sample data:


2) Security Deposits can be applied to a tenant through Tenant Maintenance. When adding/modifying a tenant select the "Deposit" tab from the Tenant Maintenance screen. Only assigning of  Deposit Codes is allowed in Tenant Maintenance screen.  Use the "Tenant Deposits" screen to maintain (add/modify) deposits.

The intention of the "Deposit" tab on the Tenant Maintenance screen is to speed entry of deposit information when adding new tenants.

I need to explain -> Deposit Code --> Amount --> Interest --> Pending columns.

*The Property Manager allows up to 5 deposits per tenant. The Deposit Codes need to exist before they may be assigned to a tenant. Deposit Codes are added through "Setup" -> "Charge Code" screen. Refer to the previous step for details.
*The Amount column represents the amount of the deposit to be collected (or to be collected - PENDING).
*The Interest column is similar to the amount column. It represents the amount of interest already paid by this tenant. If this is a new tenant and no interest has been paid, leave this field zero (0.00).
*The Pending column tells Property Manager how to handle this deposit when saving the tenant. If the Pending column is checked, Property Manager will not add Historical Deposit information. The deposit is Pending to be received. The receipt of the deposit is entered through the "Tenant Deposits" screen. Leaving this column Un-checked indicates this deposit was previously received and is historical information. When this information is saved the Property Manager will update the deposit information as received and transferred. Please refer to "Tenant Deposits" for additional information (next step).

Click Save Icon or press F8 to save the deposit information applied to this tenant.


3) Adding/Maintaining Security Deposits is handled through the "Tenant Deposits" screen. From the Property Manager menu, select "Maintenance" and then select "Tenant Deposits". Select the tenant to modify the security deposits.


First select a tenant to modify. The first grid displays the deposits for this tenant. The second grid displays details for the specific deposit selected from the first grid. Highlight the first deposit 1 line and then click the first icon to the right of the grid (Load Deposit Details).

To add new deposits or interest click the second icon to the right (Insert Deposit/Interest).  The following screen allows entry of the deposit/interest information.

To add interest change the "Deposit Type" to "Interest".

To correct a previous entry highlight the entry to adjust and click the third icon to the right (Adjust Deposit/Interest). A screen similar to the above Add screen will be displayed. Enter the amount positive to increase or negative to decrease the amount of the deposit or interest. Note: You can not change the "Deposit Type". After clicking "Save" the details will show an adjustment entry.

The "Transferred" column indicates if this detail was transferred to the General Ledger. The GL Export screen is located on the Property Manager Menu under Month End Processing. If this column is un-checked that transaction has not been transferred to the GL. A check in the box indicates the detail has been exported. Note: historical details entered as "Pending" on the "Tenant Maintenance" Deposit screen will automatically be checked as being transferred.

To delete a specific deposit detail highlight the detail and click the bottom icon to the right (Delete Selected Detail). A message "Delete/Reverse Option" -> Create Offset entry to Reverse out the Entry? will be displayed. Click "Yes" to create an offset entry leaving the detail for historical reference. Click "No" to simply remove the detail from the deposit detail.


4) How to print "Security Deposit" information. From the Property Manager menu select Reports -> Management Reports -> Tenant. From the Tenant screen change the "Report to Print:" to either "Tenant Deposits Detail" or "Tenant Deposits Summary".


5) To compound interest on security deposits use the "Deposit Interest" screen from the "Month End Processing Menu".

Interest may be Compounded Monthly or calculated Annually. Select the Month for the interest to be calculated. Interest is calculated on the deposit date or the date of the last interest. Calculations are not prorated. If the interest will accrue interest, check the box next to "Include interest charges in calculation".

Note: Interest will be calculate for those Security Deposit codes that have "Charge Interest" checked in Charge Code setup. The percent interest calculated is based on the "Interest Percent" in Charge Code setup. The General Ledger accounts are those on the Charge Code setup.


6) To transfer Security Deposits to the General Ledger select Create GL Export File from the Month End Processing Menu. Change the "Transfer Level" at the bottom of the screen to "Security Deposits". Verify the remaining screen information is correct. Click Process.


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