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Inventory Center - Manage Deposits

Inventory Center - Manage Deposits

In this article:

About Deposits

You can choose to enter a single Deposit as part of the contract details or you can create a Deposit Schedule allowing you to enter multiple deposits at once. Deposit Received details can be entered at the same time or at a later date. Deposit details are displayed in the Deposits section of the inventory profile.

When you log into the Inventory Center, you may notice units highlighted in orange or red font in the Inventory List. If a deposit is due within two weeks’ time, the unit will be highlighted in orange font. If a deposit is overdue, the unit will be highlighted in red font.

Add Single Deposit

Note: You can enter the details for a single deposit in full as it is received or as a deposit due where details are completed once it has been received.

1 – In the Inventory Center, click on the appropriate Component tab, if applicable. You won't see Component tabs if there is only one.
2 – Click on the unit in the Inventory List.

– Hover over Other Actions and select Deposits.

4 – Click on New Single Deposit.

5 – If you are adding a deposit that is due but not yet received, complete the following details:

  • Amount – Amount of deposit
  • Account – Deposit account if applicable (Options for this dropdown list are added in the Project Admin Center.)
  • Due Date – Date deposit due

6 – If the deposit has been received, complete the remaining details:

  • Received Amount – Amount received
  • Received Date – Date deposit received
  • Date Sent to Lawyer – Date deposit sent to lawyer if applicable
  • Summary – Notes about the deposit if needed

7 – Click Save.

The deposit details will be listed on the Deposits page as well as in the Deposits section of the inventory profile.

Note: If a deposit is due within two weeks’ time, the unit will be highlighted in orange font in the Inventory List. If a deposit is overdue, the unit will be highlighted in red font.

Add Deposit Schedule

1 – In the Inventory Center, click on the appropriate Component tab, if applicable. You won't see Component tabs if there is only one.
2 – Click on the unit in the Inventory List.

– Hover over Other Actions and select Deposits.

4 – Click on Create Deposit Schedule.

depositschedule1.jpg

Note: The Deposit Amount is based on the Total Sales Revenue. All Discounts and Extras must be added prior to configuring your Deposit Schedule.

5 – Complete the details, including:

  • a) Deposit Amount – Select a percentage or fixed amount.
  • b) Number of Payments – Enter the number of deposits.
  • c) Date 1st Deposit Due – Select the date that the first deposit is due.
  • d) Deposit Recurrence – Enter the frequency of the deposits. You can select a specific day of each month or choose to enter your own dates.

6 – Click Next Step.

7 – This will take you to the details of your Deposit Schedule where you can preview the deposits. Lasso calculates the total deposit and creates equal payments based on the number of payments entered. You can edit the amounts or dates in the Preview Deposits section if needed. If you chose to enter your own dates, select them as appropriate.

Note: If you have already received some or all of the deposits in the schedule, you can complete the received details here as well. Enter the Amount Received and select the Date Received, and enter Date Sent to Lawyer and notes in the Summary section if applicable.

8 – Click Save.

The deposit details will be listed on the Deposits page as well as in the Deposits section of the inventory profile.

Note: If a deposit is due within two weeks’ time, the unit will be highlighted in orange font in the Inventory List. If a deposit is overdue, the unit will be highlighted in red font.

Add Deposit Received

1 – In the Inventory Center, click on the appropriate Component tab, if applicable. You won't see Component tabs if there is only one.
2 – Click on the unit in the Inventory List.

– Hover over Other Actions and select Deposits.

4 – In the Deposits list under Amount, click on the deposit that you received.

5 – Enter the amount in the Received Amount space and select the Received Date. Include the Date Sent to Lawyer and a brief note or Summary if desired.

6 – Click Save.

The deposit received details will be displayed on the Deposits page as well as in the Deposits section of the inventory profile.

Update/Edit Deposit Details

1 – In the Inventory Center, click on the appropriate Component tab, if applicable. You won't see Component tabs if there is only one.
2 – Click on the unit in the Inventory List.

3 – Hover over Other Actions and select Deposits.

4 – In the Deposits list under Amount, click on the deposit that you want to update.

5 – Update the details as needed and Save.

Export/Print Deposit Summary for Inventory Unit

1 – In the Inventory Center, click on the appropriate Component tab, if applicable. You won't see Component tabs if there is only one.
2 – Click on the unit in the Inventory List.

– Hover over Other Actions and select Deposits.

4 – Click on Deposit Summary.

5 – A list of deposits and related details will appear in a new window. Select Print, CSV, or Excel to print the the summary.

Delete Deposit

1 – In the Inventory Center, click on the appropriate Component tab, if applicable. You won't see Component tabs if there is only one.
2 – Click on the unit in the Inventory List.

– Hover over Other Actions and select Deposits.

4 – In the Deposits list under Amount, click on the deposit that you want to remove.

5 – Click on Delete.

6 – A message will come up asking if you’re sure you want to delete the deposit. Click OK.

The deposit will be removed from the Deposit list.

Warning: Deleting a Deposit will remove all references to it from inventory details and associated reporting.