Deposit Folios and Deposits

1. Reflecting Deposits as Payments in Clock PMS

Deposits received for the payment of particular charges can simply be reflected as payments in Clock PMS. For more info on payment posting, see Folio - Payments

2. Deposit Folios

Deposit folios are used to register deposits received from clients and issue an invoice for these deposits. Then the deposits can be used for the payment of guests' charges.

2.1. Deposit Folio Creation, Registration of Deposit and Invoicing

• Click the 'Add Deposit Folio' button on the booking screen to create a deposit folio
• On the newly created deposit folio screen, click the New Payment button to record a deposit as a payment.
  In the Payment pop-up window, fill in:
  • Deposit's value and currency
  • Payment type (and sub-type)
  • Reference text
• Click 'Create Payment'
• For a deposit invoice, click the Issue button on the deposit folio screen
• Select 'Close Folio (Invoice)' to issue a deposit invoice with all its requisites
• In the pop-up, enter:
  • Deposit description in the Text field, e.g.: Deposit for Booking # 358; Deposit for Corporate Meeting Event on 10th October
  • Applicable tax percentage for the deposit invoice
  • Select a revenue category. The revenue category belongs to the 'Pre-Invoiced Deposit' revenue group
  • Click the Issue button

Result:

• You can keep track of all deposit invoices for a certain period from 'Control' – 'Closed Folios Report'.
• Deposit payments are reflected in the Payments Report.
• In the Charge Summary Report, you can see the deposit recorded as a Pre-invoiced Deposit revenue group charge with the respective tax applied. This is done for taxation purposes.

2.2. Using Deposit Folios for Payment Operations:

• Open a folio in a booking
• Click the 'Get Deposit from...' button in the Payment section
• Select a deposit folio from the booking, if available, or from another booking or company
• In the pop-up, enter the amount to be transferred
• Click the Transfer button

Result:

• On the destination folio, a positive deposit transfer payment is recorded. A negative deposit transfer payment is registered to the source folio. This way the balance of payments is preserved (the funds have been transferred from one folio to another).
• These positive and negative deposit transfer payments appear in the Transfer (in-house) section of the Payments Report, respectively as payments transferred from and to folios.
• When a deposit is used for paying charges on guests' folios, a correctional folio is automatically created. This is done for taxation purposes. This correctional folio is a credit invoice to the deposit invoice, issued with the registration of the deposit in Clock PMS. The correctional folio (credit invoice) has only one charge. It is of the pre-invoiced deposit revenue group and is equal to the amount transferred. Thus the value of the recognised revenue, being of pre-invoiced deposit revenue group, is reduced.

3. Voiding of Payments Made through the Get Deposit from…' option

If you have used the 'Get Deposit from...' option and posted a wrong payment to a folio, you should void this deposit transfer payments to restore the deposit amount.

Deposit transfer payments are voided in three steps:

• On the destination folio screen, void the payment marked with payment type 'Transfer (internal)'.
• On the source Deposit folio screen, void the negative payment marked with payment type 'Transfer (internal)'.
• On the source Deposit folio screen, void the correction folio for the corresponding amount.

4. Refund of Overpaid Deposit Amounts

Clock PMS provides you with several ways to refund overpaid deposit amounts to customers depending on the situation:

4.1. Refund of the Whole Deposit Amount (The Deposit Has Not Been Used)

4.1.1 Deposit Folio Voiding

• Open the deposit folio to be voided
• On the deposit folio screen, click the Issue button and select 'Void'

4.1.2 Full Correction Option

• Open the respective deposit folio
• On the deposit folio screen, click the Issue button and select 'Full correction'
• On the correction folio screen, click the Issue button and select 'Close Folio (Invoice)'
• Go back to the deposit folio screen and click the New Payment to add a negative payment
  • The negative payment is to be equal to the deposit amount to be refunded

4.2. Overpaid Deposit Amount Refund (Only a Part of the Deposit Is Used)

When only a part of a deposit is enough for the payment of a guest bill and the rest of it is to be refunded, follow these steps:

• Open the respective folio and click 'Get Deposit...'
  • In the pop-up, enter the whole amount of the deposit available on the deposit folio
  • The folio balance will be negative and equal to the amount to be refunded
• Click the Add Payment button to post a negative payment equal to the amount to be refunded
  • In the pop-up, specify the refund method in the payment type field
• On the folio screen, click the Issue button and select 'Close Folio (Invoice)' to issue an invoice

keywords: deposit, prepayment, pre-payment, payment, credit, refund, clock pms