Do you collect Security Deposits for your leases, keys, utility or any variety of options? Did you know that JD Edwards EnterpriseOne Real Estate Management can assist you with maintaining and recording this information as well as refunding the full or partial deposit when the time comes to return the monies to the tenant?
The Security Deposit requirements can be entered in Security Deposit Maintenance (P1565). It is also possible to create an invoice if necessary for the customer to submit this deposit. This invoice will not be created in Accounts Receivable.
The actual security deposit is entered in RE Cash Receipts (P15103) with a Bill code associated with Security Deposits.
The Security Deposits Required vs. Received report can be run to verify all required deposits have been received or which are still pending.
When ready to refund the deposit, there are a number of options. It can be refunded in full or partially depending on the processing options of the Security Deposit Refund Application (R15654). This means there is an option to refund only a portion of the deposit if there are open invoices that a portion of this balance needs to be applied to.
It is necessary to use RE Cash Receipts to apply this balance to the open invoices.
How to Manage Security Deposits in Real Estate Management (Doc ID 1469834.1) provides more detailed instructions on how to use this functionality.