Refunding a Security Deposit

PURPOSE: The purpose of this document is to instruct the DockMaster user of the various methods to refund or forfeit a security deposit through the Marina Management module.

The Security Deposit Maintenance process allows a full or partial deposit to be returned.  Any balance not refunded can remain as a deposit or can be forfeited. Funds may be returned to the customer  in the following ways:

• By creating a credit memo on the customer's account,

• By creating an invoice in Accounts Payable,

• By making an accounting entry to post the refund

• By paying the customer with cash from the cash drawer

• A combination of these scenarios.

1. Go to Marina Management > Security Deposits > Security Deposit Maintenance

                                    

1. Enter the Customer Number, if known, or press F6 to get a list of customers and select from that list or type “\” and a portion of the customer name to search for the customer without the listing.

Once a customer is entered, the current deposits on file are displayed in the Deposits grid.

2. Click on a deposit in the Security Deposits grid to REFUND a deposit.

The Refund Detail section will become active and allow you to enter information.

3. Enter data into the exposed fields.

Refund – Enter the amount of the deposit to be refunded, including a partial amount. If a partial amount is refunded and the Forfeit field is left blank, the balance will remain as a deposit.

Forfeit – Enter the amount of the deposit that will be forfeited.

Click apply to continue the refund process.

4. Choose one of the following methods to refund the customer:

• CREATE A CREDIT MEMO ON THE CUSTOMER'S ACCOUNT:

Click into the A/R Credit Memo Amount field and enter the amount to be refunded. Click OK.

A message will display indicating the invoice number that was applied to the customer’s account. :

                                              

Click the Save icon to finalize the process.

The credit will be reflected on the customer’s ledger:

                                   

• ISSUE A CHECK TO THE CUSTOMER:

Click into the A/P Invoice Amount and enter the amount to be refunded. Click OK.

A message will display indicating the invoice number and vendor number so that the check can be printed:

                                    

Click the Save icon to finalize the process.

The refund check can then be selected to print from Accounts Payable > Check Processing > Invoice Payment Selection:

                                  

• REFUND WITH CASH FROM POINT OF SALE:

 Leave the amount in the Cash Refund box. Click OK.

                                                                                 

Click the Save icon to finalize the process.

Cash refunds will be reflected in Post Cash to G/L: