A/R Security Deposits

Facilities often choose to keep security deposits separate from the balances for services and rent;  therefore, security deposits entered in Residex are not included in the resident account overview or statements. Security deposits differ from "Other Cash" because they are a fixed requirement vs. a payment for miscellaneous items.

Security Deposits:

Security deposits are required to cover items such as first/last month's rent, possible pet damage, or key fob use. For security deposits you need to:

  • Specify the deposit type
  • Set the required deposit
  • Enter payments against the deposit type

We will break each of these steps down.

Deposit Types

To create deposit types, in Desktop ResiDex:

  • Start at the Setup Tab
  • Search for "Deposit" and select "Deposit Types (G/L)"
  • Enter the deposit types and G/L (General Ledger) codes if applicable

Set Required Deposits:

  • From Desktop ResiDex - click the Receive tab
  • Click the Other Cash Receipts button

  • Click the Set Required Deposit button

  • Select New at the top of the screen

  1. Select the Resident name
  2. Select the deposit types (these will match the options you set up in the "Deposit Type" step)
  3. Enter the amount of the deposit that is required - when finished press Save or close the window

  • Once saved, the required deposit(s) will be displayed showing both the paid and due amounts

Applying Security Deposit Payments:

  • From the Receive Tab - click the Other Cash Receipts button (image 1 of this document)
  • Click New at the top and fill in the fields

  1. Enter the Receipt Date (this should match the date it was deposited in the bank)
  2. Select the Receipt For - be sure to select one of the security deposit types
  3. Select the Type - personal check, bank check, EFT, etc.
  4. Enter the check/reference (optional)
  5. Enter the payment Amount
  6. Optionally enter the payment Description
  7. Select the Community where the resident resides

NOTE: The Receipt For field is limited to ONLY those Residents who have a security deposit of that type "Set" for them. If the Resident you need is NOT listed, ensure you followed the "Set Required Deposit" step.

  • The Deposits Required screen will show up-to-date paid/due information

Security Deposit Report:

  • Resident Deposit Balance - Allows you to select one resident and see the deposit status

  • Resident Deposit Balances - Will display all deposits for active and inactive residents at a given campus

Returning a Deposit:

If a deposit is returned, you can enter that information on the "Set Required Deposit" screen.

  • Open the Set Required Deposit screen and click on a line item
  • Fill in the Returned Deposit information
  • When the information is entered it will be displayed in the "Returned" deposit column