I was wondering if anyone else had better solutions to managing a high volume of security deposits?
Right now my team handles about 40-60 security deposits a month. I've heard of some rental property companies with hundreds during a month.
These are deposits that our company takes in to cover due diligence costs (appraisal costs and underwriting) and to make sure that the customer is invested in the process.
Logging all of these deposits gets pretty tedious to do in QB.
It is a lot of creating, managing, refunding, partially refunding, deducting that means a lot of journal entries and manual entry.
Our interim solution: My team is using a combination of Stripe, TransactionPro (a QB app), and QB to cut down on manual entries. Does anyone have a better solution?
