Transitioning to Refundable Deposits

Summary: This article will explain how to start using Vantaca's Refundable Deposits, released on October 26, 2023. Depending on how you've been previously tracking and manually maintaining deposits, the steps required to make the transition may vary. For more information about the Deposit feature itself, please refer here.

No matter what method you were using to manually accommodate Deposits previously, you'll need to create a new Deposit Charge Type Assessment.

🚧 It's recommended that you do not modify any of the previously used charge types used to track your🚧 deposits, i.e. changing them to a Deposit Charge Type, as this will create additional errors that will require
support intervention to resolve.

Tracking via Homeowner Ledger

If you were tracking deposits with the Homeowner Ledger, we recommend tracking deposits on the Homeowner Ledger > Deposit tab moving forward and leave any existing deposits on the owner ledger. Meaning, deposits previously tracked on the homeowner ledger will be refunded overtime and new deposits received will be posted to the deposit tab.

Tracking as a Post Deposit GL-side

If you were tracking as a Post Deposit on the GL-side and these deposits were not tied to a specific homeowner, you'll need to identify the specific GL code that you were using. Create your new Deposit  Assessment with the same GL code. You'll complete the transition by creating an import onto the deposit tab with the import dates coinciding with the current month. As the import creates history items these do not impact the GL.

Tracking Outside of Vantaca and/or Onboarding a New Association

If you were manually tracking your homeowner's deposits you'll be importing the homeowner's charge balances. Create your new Deposit Assessment and then perform a Charge Balance Without History Import and the import results will automatically be applied to the Deposit tab based on their charge type.