Record a holding deposit, and fix a payout you got wrong

Two kinds of money used to sit outside your books: the deposit an applicant pays to hold a unit, and the distributions you pay your owners. Both are recorded properly now, and both can be corrected.

Take a holding deposit from an applicant

When you approve someone pending a deposit, they are emailed the amount. If you have saved Interac e-Transfer details on your payment settings, that email carries them, so the applicant knows exactly where to send the money. If you have not, the email asks them to reply to arrange it.

When the money arrives:

1. Open the application and find the holding deposit panel above the decision buttons.
2. Choose how it was paid, check the amount, and add a cheque number or e-transfer reference if you have one.
3. Choose Mark holding deposit received.

The applicant is emailed a receipt, and the application moves to fully approved so you can convert them to a tenant.

Card and pre-authorized debit are not options here. Those are charged online through the tenant portal, not recorded by hand.

It is credited automatically at move-in

You do not need to remember it or work out the difference yourself. When you collect move-in money on the lease, the first month's rent is charged in full and the deposit settles that much of it. The receipt shows both lines and the amount actually due at the door.

If the deposit is larger than the first month's rent, only the rent is settled and the rest stays held.

If the applicant does not go ahead

A held deposit has two exits, both on the same panel.

• Reverse receipt when you recorded it by mistake, or recorded the wrong amount. The record is kept and the entry is undone, and the application goes back to waiting for its deposit so you can record the right figure.
• Forfeit deposit when the applicant walks away. The deposit is non-refundable, so it is kept as income.

Pick one before you reverse the application decision. Wealthru refuses to reverse a decision while a deposit is still held, because the money has to be given back or kept, and that is your call.

Fix an owner payout you got wrong

Every distribution you record now shows up on the property's payout history and on your owner's statement.

If you typed the wrong amount, or paid the wrong co-owner, open the property, go to Managers, find the payout and choose Reverse. Add a reason if you want, it is saved with the record.

The payout stays on the list, struck through, and it is struck through on the owner's statement too. That is deliberate. Your owner already saw the wrong figure once, so showing the correction is more honest than making it disappear. The "Total paid to you" figure on their statement leaves reversed payouts out, so it still matches their bank.

There is no way to edit a payout, and no way to delete one. Money that has been recorded is corrected, never rewritten.

If someone on your team records the money

A manager set up as an operator can record a payout or a holding deposit, but nothing happens to your books until an approver signs it off. Until then a payout says it has not been paid yet, a deposit says nothing is booked, and neither appears on the owner's statement. Both wait for you under Approvals.