Security Payment

This chapter contains all relevant information regarding security payments in TRASER Rental 365. A security payment is a prepayment that must be made before the start of the rental contract or the delivery of rental objects. It is processed directly via the rental contract and deducted from the total contract value in the form of a credit note when a rental invoice is created. This chapter is divided into the following sections:

Setting up Security Payments
Adding Security Payments to Rental Contracts
Creating Security Payment Invoices
Canceling Security Payment Invoices

Setting up Security Payments

Before you can use the security payment functionality, it must be activated and set up. To do so, please proceed as follows:

Note

Activating the deposit functionality is necessary in order to set up and manage security payments.

Use the quick search (ALT+Q) to find the TRASER Rental Setup page.
Navigate to the Rent Deposit Settings FastTab.
Activate the Deposit Functionality Active toggle switch. Additional fields will be displayed.
Select the the general product posting group code for posting of the deposit and security payment amount in the Deposit Gen. Prod. Posting Gr. Code field.
Select the the VAT product posting group code for posting of the deposit and security payment amount in the Deposit VAT Prod. Posting Gr. Code field. The posting group cannot include VAT.
Activate the Security Payment Active toggle switch.

You have successfully competed the basic setup for security payments. In addition, you have to specify the accounts used when posting security payments. To do so, please proceed as follows:

Use the quick search (ALT+Q) to find the Customer Posting Groups page.
Click on New to create a new customer posting group or click on Edit List to edit an existing customer posting group.
In the Unpaid Security Payment Account field, enter the account to which unpaid security payments should be posted.
In the Paid Security Payment Account field, enter the account to which paid security payments should be posted.
Your changes are saved automatically.
Close the Customer Posting Groups page.

You have successfully set up the security payment functionality for use in rental contracts. The next section describes how you can add a security payment to a rental contract.

Adding Security Payments to Rental Contracts

In TRASER Rental 365, security payments are added as revenue lines to rental contracts. To do so, please proceed as follows:

Note

If you selected the checkbox in the Price Mandatory column during the additional revenue setup, the revenue line will be added to the contract lines automatically once you add rent classes or rent class packages.

Use the quick search (ALT+Q) to find the Rental Contracts page.
A list of all rental contracts is displayed.
Either click on New to create a new rental contract or open an existing contract.
Proceed as described under Add Additional Revenue to add a security payment as an additional revenue to a rental contract.
Navigate to the Security Payment Details FastTab. This FastTab is only displayed if a security payment has been entered into the contract lines.
Fill in the fields according to the following table:

Field	Description
Security Payment Amount	If you want to charge a fix amount as a security payment, enter the desired amount here.
Security Payment Percentage	If you want to charge a percentage of the contract value as a security payment, enter the desired percentage here.
Security Payment Terms	Select the payment terms for the security payment from the dropdown list.
Security Payment Method	Select the payment method for the security payment from the dropdown list.

To release the rental contract, click on Status >Release in the menu bar of the rental contract card. Once the rental contract has been released, the security payment amount in the contract lines will be updated automatically to the correct amount.

You have successfully added a security payment to a rental contract. The next section describes how to invoice a security payment.

Creating Security Payment Invoices

After the contract has been signed, you can invoice the security payment. In TRASER Rental 365, security payments are processed directly via the rental contract. To do so, please proceed as follows:

Use the quick search (ALT+Q) to find the Rental Contracts page.
A list of all rental contracts is displayed.
Open the rental contract for which you would like to create a security payment invoice.
Click on Invoice > Security Payment Entries in the menu bar.
The Security Payments window opens. It displays all relevant information regarding the related security payment, such as the Entry Date, the Status of the security payment, the Amount, the available Remaining Amount, as well as corresponding entry documents.
Click on Create Security Payment Invoice in the menu bar.
Confirm the dialog window with Yes to open the security payment invoice.
Review all entries, then activate the Amount Checked toggle switch in the Security Payment Document Line FastTab.
Click on Post > Post Security Payment Document in the menu bar.
Confirm the dialog with Yes, if you want to open the posted security payment invoice.

Tip

You can access created security payment documents via either the Security Payment Documents page or the corresponding rental contract. To do so, click on Invoice > Security Payment Entries in the menu bar of the rental contract card, select the desired document in the Detailed Entries FastTab, then click on Open Document in the menu bar of the FastTab.

You have successfully created a security payment invoice. The information in the Security Payment Entries window of the corresponding rental contract is updated automatically. Delivering rental objects as well as creating/posting deliveries is not possible until the invoice has been paid. In the following section, you will learn how to cancel a security payment invoice.

Canceling Security Payment Invoices

If a security payment has been wrongly applied, you can cancel the security payment invoice. In this case, a credit memo will be created. To cancel a security payment invoice, please proceed as follows:

Use the quick search (ALT+Q) to find the Rental Contracts page.
A list of all rental contracts is displayed.
Open an existing rental contract that contains security payment lines you would like to cancel.
Click on Invoice > Security Payment Entries in the menu bar.
The Security Payment Entries window opens and displays all relevant information regarding the related security payment.
Navigate to the Detailed Entries FastTab.
Select the line you want to cancel.
Then, click on Open Document to open the posted document.
Click Correct > Cancel Security Payment Document in the menu bar.
Confirm the dialog window with Yes to cancel the security payment invoice.
Once you cancel a security payment invoice, a credit memo will be created automatically. Confirm the dialog window with Yes to open the credit memo.
Review all entries, then activate the Amount Checked toggle switch in the Security Payment Document Line FastTab.
To release the security payment credit memo, click on Status > Release in the menu bar.
To post the security payment credit memo, click on Post in the menu bar.
Confirm the dialog with Yes, if you want to open the posted security payment credit memo.

Note

When canceling an unpaid security payment, the entries for the corresponding invoice and credit memo must be processed manually to ensure correct accounting. To do so, use the Register Customer Payments action on the customer card of the bill-to customer.

Tip

You have successfully canceled a security payment invoice. The information in the Security Payment Entries window of the corresponding rental contract is updated automatically. The following chapter covers everything you need to know about rent breaks.

Continue with the next chapter