Steps on configuration and releasing Deposit Interest

1. To set up the Deposit interest, go to Administration > Policies > Finance > Deposits


Open the Organization, and click the pencil icon to EDIT.


Fill in the details and add the interest rate chart's effectivity date and the Annual interest rate percentage. See the example below and click  SAVE:


2. Once the configuration is done in the system, you can check the CALCULATED INTEREST view of active and paid tenants from the Dashboard > Finance > LEASE DEPOSIT page.


3. To Release a Lease Deposit, just click the Property details > General > click RELEASE DEPOSIT button.


Check the release interest amount, posting date, and confirm the charges.  You can also find an option to release the "Interest only".

Once you click the OK button, the Lease status will be updated to RELEASED. These details will be reflected in your General Ledger as well.


4. To confirm the released deposits, go to Finance > Accounting > General Ledger. Click the date of release to see the journal record.

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