Security Deposits

Learn about managing Security Deposits in CIS.

In some markets, Security Deposits are required as collateral for doing business with a Supplier. These funds become part of the Customer enrollment, renewal and termination business processes. The functional areas that are involved in Security Deposit Management:

Requesting the Security Deposit

To request security deposit from CSR site, follow the steps below:

  1. Go to Activity Menu > Security Deposit.

  2. Click on Request button. Fill in the details on Deposit Transactions form.

    Field Description
    Deposit Collected Date Date on which request for security deposit is made.
    Due Date Date on which Customer is required to pay the security deposit.
    Deposit Required The amount of security deposit.
    Save and Cancel Button Click Save to save the entry. Click Cancel to cancel.

Collecting the Security Deposit

Pre-requisite: A request for security deposit must exist.

To collect security deposit from CSR site, follow the steps below:

  1. Go to Activity Menu > Security Deposit. Select the deposit amount and click Collect.
  2. On Deposit Detail Transaction page select the Payment Type, Check/M.O Number, Paid Date and Amount. and click Save to collect payment.

    Note: You can click Edit to make changes to the entry.

Refunding the Security Deposit

To refund security deposit from CSR site, follow the steps below:

  1. Go to the Activity > Security Deposit.
  2. Select the deposit amount to be refunded (highlighted in blue) on the Security Deposit Request screen.
  3. Select Refund/Apply from the Security Deposit detail screen.
  4. Click Post.

    Note: When the Security Deposit balance is greater than the outstanding AR balance, the refund amount to the Customer populates automatically in the Amount Refunded field. The amount in the field Apply A/R Balance is equal zero. Selecting the Post button creates creates two AR transactions automatically:
    • Payment – to show that the money is applied to the Customer’s account.
    • Adjustment – to show that the remaining balance is refunded to the Customer.
    Note: When the Security Deposit balance is less than the outstanding AR balance, the amount displayed in the Amount Refunded field is zero and the amount in the field Apply A/R Balance is equal to the Security Deposit balance. This means that the Security Deposit balance is applied to the Customer’s outstanding balance owed. Selecting the Post button creates one AR transactions automatically:
    • Payment - to show the amount is applied to the Customer’s account.

Deleting Security Deposit Records

To delete security deposit from CSR site, follow the steps below:
  1. Go to the Activity > Security Deposit.
  2. Click .