Bank Deposits

Unless there are no receipts, make at least one bank deposit each day. Multiple bank deposits can be made when necessary. To post the same day, the deposit must be received by the bank prior to 3:00 p.m.

The Yardi Manual provides detailed instructions on how to post payments into the system. After all payments are entered and prior to posting the journal:

• To verify accuracy, run two adding machine tapes.
• Print your Yardi Deposit Slip
• Confirm that the tape matches and the Yardi Deposit Slip have the same total.
• After any differences are resolved, post the journal.

After the batch is posted and the Yardi Deposit Slip printed, you are ready for the following steps:

Step 1

Remember, there is a separate bank account for security deposits. Make sure they are recorded on the correct deposit slip and separate from all other payment types.

Operating Account — Non-Refundable Items

• Rents
• Fees:   Screening Fees, Late Fees, NSF Fees
• Damage Reimbursements and Move-Out Billings

Step 2

Step 3

Route the three-part bank slip as follows:

→ White — Bank Copy
→ Pink— Site copy
→ Yellow—Central Office

After the Deposit Receipt is received from the bank, assemble the documents as shown, in the following order:

1. Bank Deposit Receipt (top) *
2. Deposit Ticket
3. Adding machine tape
4. Yardi Deposit Slip

* Bank Deposit Receipt not required if Deposit Ticket is stamped by the bank. File the batch in chronological order. At the end of the month, each batch will be sent to the Central Office with the Deposit Slip from Yardi. A duplicate copy will be held a the property for reference purposes.