How to Collect a Deposit in DeskManager Online
DeskManager Online now gives you the tools to collect deposits. This acts as a holding or deposit on the account, which can be allocated when the deal is finalized. Please note that deposits can only start out on pending deals, which require both a vehicle and a buyer.
First, create a pending deal. For more information on creating deals, read our article here:
At the top of all pending deals, you will see an Accounting button. Clicking the Accounting button will take you to the Accounting Summary of this pending deal.
At the top of the Account Summary, there is a button called Collect Deposit. Clicking Collect Deposit will take you to Payment Collection.
Provide the Payment Amount, Payment Method, Reference No. (optional), and date of collection.
Depending on your preference, you can email or print a receipt when collecting the deposit. The receipt will be generated or emailed when you click Apply.
After the deposit payment is applied to the account, you will be taken back to the Account Summary.
While the deal is still pending, you can refund the deposit or void the payment by clicking the yellow arrow icon to the right of the deposit.
When the deal is finalized, the deposit can be credited to balances such as Down Payment, Deferred Payment, and Interest and Principal Balance, in that order.
At the bottom of the Account Summary, there will be a green credit card icon next to the deposit. When this icon is clicked, it will automatically distribute the credit across the loan. THIS CANNOT BE UNDONE OR REVERSED.
If the automatic distribution needs to be changed, first go to the Payment History by clicking More > Payment History. Then click the three dots to the right of the payment and click Mark as Void. You can then take payments normally for this deal.
During the re-collection is when you can manually allocate the payment amount.
The deposit is then recorded as a payment. If you want to see when or who collected the payment, go to Payment History by clicking More > Payment History.