Suggested Procedures for Security Deposits

Please see attachment for more information.

This document provides suggestions for configuring, recording, tracking and refunding security deposits. It includes alternate and optional steps for a variety of reporting needs.

Topics included 

1. Security Deposit Transaction Code Setup
   
2. Setup for Refunding the Security Deposit
3. Display Security Deposit in Work Queues and Payoffs 
   
4. Include Security Deposit in APR Calculation
   
5. Record and Collect a Security Deposit
   
6. Update the Accounting tab of the Contract
   
7. Apply a Security Deposit to an Open Invoice
   
8. Refund a Security Deposit with Cash
   
9. Track Security Deposits in a Work Queue
   
10. Track Security Deposit via the Trial Balance Report
    
11. Security Deposit in the Payoff Calculator
    

• Related Articles

• Month End Procedures ASPIRE

  See attachment for guidance on processing month end

• Security Profiles Video

  See linked video for complete information. The linked video explains the setup of the ASPIRE Security Profiles. Click here to view the 13 minute video. The attached document provides a written overview of common Security Profile terms and concepts.

• Security Profiles and Global Settings

  See attached document for complete details. The attached document digs into important Security Profile settings as well as Global Settings, both on the ASPIRE Administration menu. The document does not expand every setting within the Security Profile ...

• NACHA File Format and NACHA Rules

  See attached documents for complete details. The attached documents cover all aspects of the NACHA file format and 2010 NACHA Operating Rules.

• Contract Items

  Contract Items in ASPIRE Contract Items in ASPIRE can be either amortized or recognized upfront. Certain contract items can also be financed depending on the contract finance product type. Click here for a 13:30 video walking through the Contract ...