Refundable Resident Security Deposits
The following process will recreate all associated postings and create and/or affect the beginning balances for the appropriate general ledger accounts.
- Print a report from your old accounting system that contains the details for refundable resident security deposits.
- In-house Residents in the Orion database, add a Refundable Security Deposit charge on the ledger. The bill from/bill to dates should be PRIOR to the go-live date/period.
- For residents (departed before Orion – moved out PRIOR to the Go-live date) create a Reservation in Oscar with a zero “0” rent rate and create the same steps as for in-house residents.
- Run a Pre-Billing Report for the financial period PRIOR to the Go-live period. The details and total should match the report from your old accounting system.
- Perform a Batch Invoicing routine for the financial period PRIOR to the Go-live period.
- Post the payments for each invoice using the PRIOR period and same posting date
- Print Cash receipts report
- Complete a Bank Deposit for these payments to the appropriate bank account - same period and dates.
- Keep copies of all printed reports in a file for future reference or audit
*Affected Accounts: Refundable Security Deposit Account, Bank Account
Note: Offset the bank account and the refundable security deposit account (or whatever account these amounts were posted to in the old system.