Refund Security Deposit

Step 1.  Create Security Deposit Custom Charge

A custom charge entry is created for ‘Security Deposit’ with the Tax code set to GST Free Income (as there is no GST in such deposits). This is done via Configuration – Item Management – Custom Charges screen.

Step 2.  Create Rental with Security Deposit and Post to Xero

I created a sample rental with line item for $200 + GST ($220 with 10% GST in Australia, in NZ system will apply correct GST).

This was posted to Xero and invoice #12043 was created.

Step 3.  Refund the Security Deposit via WCA in Viberent

Once the rental is finished and the Security Deposit is to be refunded, a WCA (Work Completion Advice) entry is created in Viberent for the same rental. The refund is entered as a negative, -$50 in this example.

Step 4.  Post this Refund to Xero

This refund is then posted to Xero from Viberent.  When we post to Xero, it creates the entry as Credit Note. Xero does not allow an invoice to have a negative amount.

Step 5.  Viberent shows correct balance for the Rental