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Return a deposit held by a custodial scheme

Alexi Glackin
Alexi Glackin
  • Updated

The steps below outline how to record a deposit refund from a custodial deposit scheme.  

This article includes: 

Recording monies paid out by the custodial deposit scheme

  1. Click the Residential Lettings department tab
  2. Click Tenancies on the main homebar
  3. Search for the relevant tenancy in the Find bar and click Go. Click View on the relevant record
    1. Alternatively, find and click the relevant tenancy from within the Last Viewed section
  4. On the tenancy Summary, ensure that the Tenancy Status is Moved Out
  5. Click Return Deposit - If the Tenancy Status isn't set to Moved Out, Return Deposit will show if you click Special Actions
  6. In the Deposit amount returned to tenant by scheme (£) field, enter the amount that has been returned directly to the tenant by the custodial deposit scheme
  7. In the Deposit amount returned to landlord by scheme (£) field, enter the amount the custodial scheme has sent directly to the landlord
  8. In the Deposit amount returned to agency by scheme (£) field, enter the amount the custodial scheme has sent to the agency to distribute accordingly
  9. If any deposit monies are in dispute or still being held by the deposit scheme, this amount will show against Deposit amount retained by
  10. Scroll down to the Manual Allocation section 

If there are any rent arrears, outstanding charges, or expenses, on the Tenant Ledger prior to the deposit being returned to the agency, these will be listed here. The deposit will be automatically allocated to the oldest items or you can manually allocate the monies to specific items. To do this:

  1. Enter an amount into the relevant Allocate Money field
  2. Click the relevant In Full tickbox(es)

You'll see at the bottom of this section the Amount allocated total and the Amount left to allocate total.

  1. Scroll down to the Deposit Returned To Agency By Scheme For Agreed Deductions section. Here, you can record:
  2. Date Received - Click the calendar to select the date the deposit was paid into your bank account
  3. Payment Type - Use the dropdown menu to select how the payment was made into your bank account
  4. Received Into - This will confirm which client account the deposit monies were received into
  5. Click Save

Managing monies received from the custodial deposit scheme

Once you have completed the Deposit amount returned to agency by scheme as above, these monies will then appear as a ledger balance on the Tenant Ledger, if not already allocated to outstanding rent or charges, as above. The monies will then appear in your client rent account Reconcile screen ready to be reconciled, once the deposit monies show on your bank statement.
For more information on Reconciling the bank in Jupix, click here

  • If money is due back to the agency, you will need to click Add Tenant Expenses and make it Payable to Agency
    For more information on Adding a tenant expense, click here
  • If money is due back to the landlords, you can click Add Tenant Expenses and make it Payable to Landlord

A landlord statement will need to be generated to process the payment of any monies to the landlord.
For more information on how to Generate the landlords statement, click here

 Note

The above process can be repeated if further partial amounts are to be returned

To update the deposit amount on the Tenancy Summary

The deposit amount in the Tenancy Details section on the tenancy Summary doesn't update automatically.  

  1. In the Tenancy Details section of the tenancy Summary, click Edit Details
  2. Change the Deposit Amount to the newly held deposit balance
  3. Click Save

A record of the original deposit amount and deposit amount still held by the custodial deposit scheme, can be found if you:

  1. Navigate to the relevant tenancy Summary and click the Deposit tab
  2. Scroll down to the Deposits Held section and click More Details

Related articles: 

Adding tenant charges

Refunding tenant charges

Process a credit