A deposit is a refundable amount of money that serves as collateral.
Note: a deposit is usually used for bookings. In free-floating, this can cause high transaction costs.
Example
You offer car booking in Vienna, Austria. Whenever a user starts a car rental, they will be charged 500 euros. This amount of money will be released automatically to the user after a set amount of time.
How to configure a deposit?
The deposit is branch specific. Go to a branch in the settings and open the branch quick-view.
- Click the Deposit tab
- Enter an amount
- Select an option for how long the deposit should be held
- Switch the active flag whenever you are ready
How to release a deposit early?
You can find details about the deposits in the rentals table and in the Rental quick-view.
- Click the Release money deposit button
- Confirm
Note: the maximum time to hold a deposit is 7 days.
How to use a deposit in case of an issue?
In the Rental quick-view, create an Issues, and an invoice, and bill it as you would normally do. The deposit amount will be used to cover the amount of the invoice.
You can create an invoice for up to the full amount of the deposit. If you charge the user 50 euros for a deposit of 500 euros, the remaining 450 euros will be released instantly.