Processing Deposits

Rental deposits are generally processed the same way whether set when the item/machine is entered in the Rental Contract line or if the Deposit checkbox is selected manually. The Rental Deposit Worksheet is used for the deposit posting, which is required to ship the item/machine. This can occur by creating the deposit invoices with the default or edited information, or by waiving the deposit by entering zero and posting the deposit.

If the deposit is waived, the Rental Contract can be shipped as usual. If not, the unposted deposit invoice must be posted from the Posted Rental Deposits page. Once the payment from the customer is received, the receipt date is entered and then the Rental Contract can be shipped as usual.

Once returned, the repayment information is entered in the Posted Rental Deposits page, which can be the same as or different than the deposit amount. After posting the repayment, an unposted credit memo is created which must then be posted to completely close the deposit.

The following sections describe the various methods of processing deposits. The complete process is described in the first section and then the variations follow.

To process a deposit

Create a Rental Contract.
Add the items with deposit requirements to the lines.
Add item tracking for serialized items.
On the Actions menu, choose Functions > Deposit Worksheet to open the Rental Deposit Worksheet.
By default, all lines are selected for inclusion in the deposit invoice. Clear the Selected checkbox on line(s) to exclude.
Make changes to the Selected Quantity to adjust the number of items/machines to include in the deposit or to the Deposit Unit Price or Deposit Amount to adjust the amount of the deposit.
On the Home menu, choose the Post Rental Deposit action and then choose the Yes button to post the deposit. Choose the OK button to close the confirmation message.
In the No. of Posted Deposits field, choose the value to open the Posted Rental Deposits page.
From this view, only the deposit for the selected line is shown but will open the deposit invoice for all lines. To see all deposit entries, go back to the Rental Contract and then choose Order > Posted Deposits on the Related menu.
The Document No. field is updated with the number of the unposted invoice.
At this point you can delete the deposit invoice without issue and make any changes to the Rental Deposit Worksheet and post the deposit again.
If the deposit information is correct, choose the Show Invoice action and then post the invoice.
In the Posted Rental Deposits page, the Posted Document No. field shows the number of the posted invoice.
Once payment is received, go back to the Posted Rental Deposits page, and then enter the date of the payment in the Payment Posting Date field.
Go back to the Rental Contract.
If the deposit quantity was changed on any lines in the Rental Deposit Worksheet or if a line was excluded, you must change the Qty. to Ship to match.
Ship the item(s).
After the item is returned, choose Order > Posted Deposits on the Related menu to open the Posted Rental Deposits page.
- If the item was returned in acceptable condition, then choose the Post Repayment action to create the credit memo for the full amount of the deposit.
- If there are issues, edit the Repayment Amount field, enter a reason in the Description field, and then choose the Post Repayment action to create the credit memo.
  The reason is transferred to the Description 2 field on the credit memo line and cannot be edited.
New entries are created from the invoice lines with Sales Document Type = Credit Memo.
Invoice lines are closed and no longer bolded while credit memo lines are open and bolded. If changes were made to the repayment amount, this and the comment are visible on both the invoice and credit memo lines.
The Document No. field is updated with the number of the unposted credit memo.
At this point you can delete the repayment credit memo without issue and make any changes to the repayment amounts/descriptions.
If the repayment information is correct, choose any of the credit memo lines, choose the Show Credit Memo action, and then post the credit memo.
The Posted Document No. field shows the number of the posted credit memo.
The Open checkbox is cleared and the lines are no longer bolded.

To process a deposit with serialized items

For serialized items, item tracking must be assigned before any processing is done in the Rental Deposit Worksheet. Otherwise, the line will be excluded and, therefore, cannot be shipped. The serial number assignment depends on the Transfer Posting:

Item Journal - on the Rental Contract line
Transfer Order - on the Shipment Transfer Order

In the Rental Deposit Worksheet, each serial number has an individual line. The value in the Selected Quantity field cannot be changed on these lines. Upon posting, each serial number has an individual line in the Posted Rental Deposits page. Different repayment amounts can be set for each serialized item.

To process a manual deposit

A manual deposit can occur if the item/machine entered on the Rental Contract has not been set up with deposit requirements or if the Manual Deposits toggle is turned on in the Rental Setup page. Either way, the Deposit checkbox is not selected on the Rental Contract line.

To enter a manual deposit, select the Deposit checkbox on the Rental Contract line(s) that requires a deposit. If the customer has Deposit Mandatory = true, choose the Yes button in the message to acknowledge that the deposit posting requirement cannot be changed.

In the Rental Deposit Worksheet, manually enter the deposit unit price or amount in the lines. If you close the Rental Deposit Worksheet before posting, the manual amounts are not saved and will need to be re-entered.

To exclude deposit entries

The Selected checkbox determines which deposit entries are included in the deposit posting. If lines need to be excluded, clear this checkbox prior to posting. However, these lines will still need to have some type of deposit posting in order to ship the associated Rental Contract lines.

When preparing to ship other lines that received the deposit payment, you will need to adjust the Qty. to Ship field on the excluded Rental Contract lines. These unshipped Rental Contract lines will remain in the Rental Deposit Worksheet until a deposit posting occurs either by creating the deposit invoice or waiving the deposit.

To waive a deposit

Waiving a deposit means that no deposit needs to be collected in order to ship the rental item/machine to the customer. This can be done for all or individual deposit entries, but a posting must occur for all entries.

To waive a deposit entry, change either the Deposit Unit Price or Deposit Amount field to zero (0) on the lines in the Rental Deposit Worksheet and then enter the reason in the Comment field. Ensure that the Selected checkbox is selected on each line and then post the deposit.

If all deposit entries were waived, then you can ship the Rental Contract as usual. No further steps are required for the deposit because there is no invoicing and, thus, no payment to collect.

If only some of the deposit entries were waived, then you can ship those and then will need to post the deposit invoice and post the payment date before shipping the others.

To post a different deposit amount

Changing the amount of the deposit does not affect the posting nor does it require an entry in the Comment field (unless it is changed to zero). Simply change either the Deposit Unit Price or Deposit Amount field on the line(s) in the Rental Deposit Worksheet to the new deposit amount. Ensure that the Selected checkbox is selected and then post the deposit.

To post a different deposit quantity

To ship a Rental Contract line with a deposit requirement, a deposit posting must occur. For example, if a line has 10 items but you only need to ship 5 now, then you can change the Selected Quantity in the Rental Deposit Worksheet and then post the deposit. After posting the deposit invoice and entering the deposit payment date, you will need to change the Qty. to Ship on the Rental Contract line to the deposit quantity.

Any Rental Contract lines with deposit requirements that have unshipped quantities will remain in the Rental Deposit Worksheet until they are processed, by posting the deposit either by creating the deposit invoice or waiving the deposit.

To post a different repayment amount

If there is damage to the returned item, the deposit repayment can be adjusted as reimbursement and even changed to zero if the entire deposit has been forfeited.

In the Posted Rental Deposits page, enter the value in the Repayment Amount field, enter the reason for the difference in the Description field, and then post the repayment.

If the amount was greater than zero, the unposted credit memo will be created with the repayment difference reflected in the Line Amount due to the calculated Line Discount %. Post the credit memo to close the repayment entry.

If the deposit was forfeited, no credit memo is created and the repayment entry is closed.

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