Refund / Forfeit Of Deposit Paid

All deposits collected with either AP Payments or Cash Payments will be appear in the Deposits Paid homepage.

REFUNDS – For refunds of deposits paid, the system will automatically create a Cash Receipt that debits a bank or pettty cash account and credits the relevant deposit account.

FORFEITURES – For forfeitures of deposits paid, the system will automatically create a Journal Voucher that debits the ‘Forfeited Deposits Paid’ expenses account and credits the relevant deposit account.

To refund or forfeit a deposit, find the deposit and click ‘View’.

You will go to the View Deposit Paid page.

Date – Once you click into the Date field, the current date (i.e. today’s date) will appear, you may enter a different date if you wish.

Refund Amt – Enter the refund amount.

Forfeit Amt – Enter the forfeiture amount.

Paid By – The default provided will be the Payee Name, you may overwrite the default.

Acc to be Debited – Select the Bank or Petty Cash account you want to debit.

Payment Method – Select the payment method. A default payment method can be set in Settings > Payment Method.  

Reference No / Cheque No – Enter reference number or cheque number if applicable.

Manual Doc No – Enter Manual Doc No if applicable.

Click ‘Create Transaction’