When you transfer or terminate a contract, Kube performs different tasks to adjust the security deposit on file based on whether the security deposit was paid in full, partially paid, or not paid.
This article describes these various scenarios.
NOTE: Depending on your assigned role and permissions, and the version of Kube your organization uses, some or all of these menus or services may not be available or displayed.
For information about the scenarios for amendments and terminations, see Contract Amendment Scenarios and Contract Termination Scenarios.
NOTE: This article is intended for organizations that are subscribed to the Credit Note service.
Contract Terminations
Paid | Partially Paid | Not Paid |
On the contract's termination date, the security deposit is reversed, and a credit note is generated. | On the contract's termination date, the paid portion and unpaid portion of the security deposit are reversed and credit notes are generated. | On the contract's termination date, the unpaid security deposit is reversed, and a credit note is generated. |
The credit note's Auto Application of Credit is set to On. | The paid portion's credit note's Auto Application of Credit is set to On. | The credit note's Auto Application of Credit is set to On. The credit note is used to settle the balance of the original security deposit. |
| The unpaid portion's credit note's Auto Application of Credit is set to On. The credit note is used to settle the balance of the original security deposit. |
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Internal Transfers
Paid | Partially Paid | Not Paid |
On the transfer's activation date, a new security deposit invoice is sent to the company. Auto Pay is initially set to Off. | On the transfer's activation date, a security deposit invoice is generated for the new security deposit amount and the remaining balance of the original security deposit. Auto pay is initially set to Off for both invoices. | On the transfer's activation date, a new security deposit invoice is sent to the company. Auto Pay is set to Off. |
Additionally, on the transfer's activation, the original security deposit is reversed. A credit note is generated with the Auto Application of Credit setting set to On. | Additionally, on the transfer's activation, the paid and unpaid security deposit amounts are reversed.
Credit notes are generated for the paid and unpaid security deposit amounts. | Additionally, on the transfer's activation, the security deposit is reversed.
A credit note is generated with the Auto Application of Credit setting set to Off. |
The credit note is automatically applied to the outstanding balance of the new security deposit invoice. | The paid portion's credit note Auto Application of Credit is set to On and the unpaid portion's is set to Off. | The credit note is automatically allocated to the original security deposit invoice to satisfy any remaining balance. |
If there is a remaining credit balance, the status of the credit note is Partially Allocated. If there is a remaining balance on the original security deposit invoice, Kube automatically sets Auto Pay to On, and it is processed in the next payment cycle. | Next, the paid portion's credit note is automatically applied to the new security deposit invoice.
The unpaid portion's credit note is automatically allocated to the original security deposit invoice to satisfy any remaining balance. | Since there is no credit note to apply to the new security deposit invoice, Kube automatically sets Auto Pay to On, and it is processed in the next payment cycle. |
| If there is a remaining balance on either the original security deposit invoice, or the new security deposit invoice, Kube automatically sets Auto Pay to On, and they are processed in the next payment cycle. |
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External Transfers
Paid | Partially Paid | Not Paid |
On the transfer's activation date, a new security deposit invoice is sent to the company. Auto Pay is set to Off. | On the transfer's activation date, a new security deposit invoice is sent to the company. Auto Pay is set to Off. | On the transfer's activation date, a new security deposit invoice is sent to the company. Auto Pay is set to Off. |
Additionally, on the transfer's activation, the original security deposit is reversed. A credit note is generated with the Auto Application of Credit setting set to On. | Additionally, on the transfer's activation, the paid and unpaid security deposit amounts are reversed.
Credit notes are generated for the paid and unpaid security deposit amounts. | Additionally, on the transfer's activation, the security deposit is reversed.
A credit note is generated with the Auto Application of Credit setting set to Off. |
The credit note is not automatically applied to the new security deposit invoice and remains as an unallocated credit note at the original property. | The paid portion's credit note Auto Application of Credit is set to On and the unpaid portion's is set to Off. | The credit note is automatically allocated to the original security deposit invoice to satisfy any remaining balance. |
Payment for the new security deposit invoice is manually processed. | The paid portions credit note is not automatically applied to the new security deposit invoice and remains as an unallocated credit note at the original property.
The unpaid portion's credit note is automatically allocated to the original security deposit invoice to satisfy any remaining balance. | Payment for the new security deposit invoice is manually processed. |
| Payment for the new security deposit invoice is manually processed. |
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