Refunding monies held on a tenancy

A refund of monies held can be carried out on any tenancy. It can either be a full refund of money, or part of the money held.

Depending on how you process your payments, the refund can be paid by direct transfer to the tenants bank account (Internet) or added to a BACS Payment File for uploading to the bank.    

 Note

This is only applicable if Monies Held is still on the Receipt screen for the tenancy and has not been used against a charge

This article includes: 

Add tenants bank details

If the tenant has provided you with their bank account details, these are added to the tenants Contact record, via the Bank Details top tab.  
For more information on Adding tenant bank details, click here

Part or full refund of monies held

  1. Click Tenancy on the main toolbar
  2. Select the relevant tenancy from Recent & Favourite Tenancies
    1. Alternatively, find the tenancy using the Search Tenancies bar in the top right
  3. Click Actions
  4. Within the dropdown menu, click Refund
  5. The Refunds For This Tenancy window opens
    1. Refund Date - You can edit the date for the refund
    2. Refund Type - From the dropdown, you can select your preferred payment type
    3. Send Refund - You can tick this if you want to send a remittance advice to your tenant via their preferred delivery method
    4. Refund Monies Held - If you tick this, you can then enter the amount you want to refund in Monies Held to Refund. This can be the full amount or part amount
    5. Click Update

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Which Refund Type?

  • If Internet is selected as the Refund Type, after you click Update, the Total to Refund appears as a debit in your Bank Reconciliation
    For more information on Bank Reconciliation, click here
  • If BACS is selected as the Refund Type, after you click Update, the Total to Refund appears in your BACS Payment Update, ready to process the next time you create a BACS Payment File
    For more information on Making payments via BACS, click here

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