Protect security deposit within scheme

Once a security deposit has been received from the tenant into the client bank account, it must be protected within the specified timeframe for the relevant deposit protection scheme. 

See unprotected deposits

There are several ways in which you can view unprotected security deposits.

• On the tenancy overview, the deposit status will show in the Security Deposit section, alongside details of the deposit charged and paid. 
  
  
  
  
• From the Accounting > Security Deposits menu, change the selector to Unprotected.
  
  
  
  
• Deposits awaiting protection will appear as an alert on the dashboard. Clicking this will display the Unprotected Deposits report above, from which you can click the relevant deposit to lodge.
  
  

By default the security deposit list shows those deposits which are currently held but unprotected, since the onus is on the agent to ensure these are protected in line with the lodgement deadlines for the specified tenancy deposit protection scheme. 

STEP-BY-STEP

1. The deposit overview will list payments received in relation to this deposit. If it has been paid in instalments then you must protect each receipt separately. 
   
   
   
   
2. Click Protect to being the lodgement process. This process will vary depending on whether it is being lodged to a custodial or insured protection scheme.
   
   
3. If lodging to a custodial scheme, you must specify the lodgement date and any appropriate reference numbers. This will be reflected on your client account statement as a payment out of the client account (to the scheme). 
   
   
   
   
4. If the deposit is being protected in an insured scheme, the bank details are not shown since the funds do not leave the bank account. 
   
   
5. Click Save to protect the deposit.
6. It will now show as protected on the tenancy overview, the deposit screen, and the Accounting Reports > Security Deposits > Protected menu.