Step 1 - Collect the owner contribution
(There are two ways to do this. Options are listed below.)
Skip Step 1 and go straight to Step 2 if you do not need a contribution from the owner.
Option #1 - Owner Contribution through the Owner Portal (ACH or CC payment through the Owner Portal).
The owner can sign into their owner portal and pay via eCheck or credit card (Note: the contribution will go to the operating trust bank account). You can Go to Step 2
Owner Contribution Option #2 - CHECK/CASH/MONEY ORDER
Record a payment in Rentvine if the owner gives you a check/cash/money order
Click on Accounting on the left side
Click on Money In from the drop down
Click on the green Actions button on the right,
Select Record Owner Receipt
You can also use the Search Bar button at the top of the screen and search for Record Owner Receipt
In the Record Owner Receipt screen, complete the fields below
Select the Portfolio
Select the Owner
Enter in the Amount of the security deposit/owner contribution
Enter in the Date Posted
Select the Payment Type
Enter in the Description
Enter in the Reference
The Account will default to your default account for an owner contribution, but you can change this if needed
The Bank Account account will pre-fill to your default trust account, but you can update this if needed
Click the green Save button
*Note: For option 2, remember to record this transaction as deposited in Rentvine
Step 2 - Create a security deposit lease charge on the lease
If the lease charge already exists please skip to step 3
Search for the lease
In the lease view page, click on the green Actions button
Select Add Charge from the drop down
In the New Lease Charge screen, complete the fields
Select the Account for your security deposits
Enter in the Amount of the security deposit
The Date Posted will pre-fill, but you can change this if needed
The Description will pre-fill to the name of the account, but you can change this if needed
Click the green Save button
Step 3 - Record a credit on the lease and apply it to the security deposit lease charge
A credit is applied to the lease to show that the owner is paying the security deposit and to show a tenant credit as well.
In the lease, click on the green Actions button
Select Add Credit from the drop down
In the Add Tenant Credit page, complete the fields to record the credit
Top Section - Details
Account - Choose your Owner Distribution chart of account
Amount - Enter the amount to be credited
Date Posted - will pre-fill, but you can adjust this if needed
Description - Enter text to describe the transaction
Bottom Section - Charges
Apply the credit to the lease security deposit charge that was recently created
Click the green Save button
Step 4 - Record a bank transfer (if applicable)
You only need to perform this step if you hold security deposits in a different bank account and you have transferred the owner's contribution from the Operating Trust bank account to the Escrow/Security Deposit Trust bank account in real life.
From the left navigation menu click on Accounting then click on Banking.
Click on the green Actions button and select New Bank Transfer from the dropdown menu.
In the New Bank Transfer form, fill out the fields to record the bank transfer.
Top Section - Details
Source Bank Account - Select the appropriate source bank account.
Destination Bank Account - Select the appropriate destination bank account.
Amount - Enter the amount that was transferred.
Reference - Enter text. i.e., transfer id 234.
Description - Enter text to describe this transfer.
Date Posted - will pre-fill, but you can adjust this if needed.
Bottom Section - Transactions
Ledger - Select the unit that the lease is linked to.
Amount - Enter the amount.
Click Transfer Funds at the bottom of the form.
