This article will detail how Kindertales handles security deposits and best practices on utilizing them. The topics covered will include:
- How to charge a Security Deposit and use it as a method of payment.
- How Security Deposits can be utilized in the End Program process.
- Security Deposit best practices.
How to charge a Security Deposit and use it as a method of payment.
1. In a child’s billing section navigate to the ‘Charges’ tab.
2. Select ‘Security Deposit’ as the debit type from the ‘Type’ drop down.
3. Complete the rest of the form and click ‘Apply Charge’.
4. Once the charge is paid navigate to the ‘Dashboard’ tab of a child’s billing section and you will see their available Security Deposit balance.
Using Security Deposit as a Method of Payment
1. Navigate again to the child’s ‘Charges’ tab.
2. Click the ‘Payment’ button next to any unpaid charge.
3. The ‘Payment Method’ drop down in the payment lightbox will now include ‘Security Deposit’ as an option and display the available balance that can be used.
2. How Security Deposits can be utilized in the End Program process.
The End Program process executed from the Enrollment Manager includes the ability to convert Security Deposit to credit. The credit will be post dated for the same date as the child’s final scheduled program charge based on the end date selected.
- Navigate to the Enrollment Manager and select a child you wish to End Program for. Learn more about Ending Care.
- As long as you are scheduling End Program past the child’s next billing date the option to convert Security Deposit will be available. If you are scheduling end of care prior to the next charge date you cannot convert Security Deposit to credit as the child would have already paid their final bill.
- Selecting ‘Yes’ to the option to convert to credit will allow you to specify how much of the security deposit to convert and give you the ability to assign the credit o one or many payers on the child’s account.
- If you undo the scheduled End Program the credits will be converted back to Security Deposit as long as they haven’t been manually used or voided.
3. Security Deposit best practices.
- When converting Security Deposit to credit during End Program only convert the amount you think will reduce their final bill to $0.00. Any extra credit left over cannot be refunded.
- If you think a child will have more Security Deposit than needed to reduce their final bill to $0.00 you can manually use some Security Deposit to pay off other outstanding charges or scheduled charges leading up to their final bill.
- In a future update charges older than 90 days paid by an online payment method will be able to be marked as refunded via an offline method such as cash or check. This will help with situations where fully returning a Security Deposit through End of Care or using it as a payment method was not possible.