Most Organisations will charge their Tenancies a Bond amount, and this amount will either be paid off in full by the Tenant or be paid off over time as a Bond Loan. Some Australian states mandate that Organisations must record the date and amount the Bond payments from the Tenant(s) were lodged the Bond Authority (whether paid in full or paid off over time in partial payments) in a separate ledger. 


This is an additional step required by some Organisations and generally only applies to Queensland Chintaro users, but this may apply in your Organisation . 


If you are not required to record the Bond Payments from a Tenant to the Bond Authority, click here to see the solution for Handling Bonds in Chintaro.


The 2 ledgers reflect:


1.) When the Tenant made the payment, and

2.) When the payment was transferred to the Bond Authority as a Bond Lodgement. 


This solution explains the different processes for Organisations regarding Bond Transactions on the Tenancy Screen.



Bond Transactions Overview

In every Tenancy screen, there is a button for Bond Transactions and when clicking this button, the following screen appears:

Chintaro's Bond Transactions screen is divided in to 2 sections. The section at the top is for Bond Transactions, and section below is for Bond Lodgements. 


When a Tenant is charged a Bond, regardless of your state, the amount they are charged is recorded in the Bond Amount section. When this is entered, the amount the Tenant is owing for the Bond will show in red as a debit to the Tenant:



How to record a Bond paid in full if you are required to record Bond Lodgements to the Bond Authority

If a Tenant pays their bond in full, and you are in Queensland or another state that requires you to record the date you transferred the Tenant's bond to the Bond Authority, you will follow these steps to ensure the transactions are recorded correctly.


When a Tenant makes a payment, the amount they paid will be recorded as a Bond Transaction (in the top ledger):


In this example, the Tenant paid their full Bond Amount of $1000 as a Bond Payment. The total at the top of the screen is the amount the Tenant owes for their Bond, and in this example, it is $0 as they have paid off their Bond.


The date the Tenant paid you the money for the Bond is then recorded in the Bond Lodged section:



Once this transaction has been received from the Tenant, you will need to transfer it to the Bond Authority. To record this in Chintaro, you will go to the Bond Lodgements section of the screen and click the Enter Bond Lodgement button to enter the amount you lodged as a credit bond lodgement transaction (including a Lodgement Type, Date, Amount and Comments):



When you add the transaction, the amount you have lodged will show in the total below:



Once you have lodged this amount with the Bond Authority, you can record this in the Transferred Date section:


Once you have received the confirmation back from the Bond Authority, the Bond Reference can be entered in to the Bond Reference section:


The Bond is now correctly recorded in Chintaro.


How to record a Bond paid in instalments if you are required to record Bond Lodgements to the Bond Authority

If a Tenant pays their bond in partial payments, and you are in Queensland or another state that requires you to record the date you transferred the Tenant's bond to the Bond Authority, you will follow these steps to ensure the transactions are recorded correctly.


When a Tenant makes a partial payment, the amount they paid will be recorded as a Bond Transaction (in the top ledger):


In this example, the Tenant has made a partial payment of $100 towards their full Bond Amount of $1000, and the total at the top of the screen is the amount the Tenant owes for their Bond -  $900.


Once this transaction has been received from the Tenant, you will need to transfer it to the Bond Authority. To record this in Chintaro, you will go to the Bond Lodgements section of the screen and click the Enter Bond Lodgement button to enter the amount you lodged as a credit bond lodgement transaction (including a Lodgement Type, Date, Amount and Comments):


When you add the transaction, the amount you have lodged will show in the total below:


Once you have received the confirmation back from the Bond Authority that they have received the payment, the Bond Reference number they provide you can be entered in to the Bond Reference section:


You will continue to receive Bond Payments for the Tenant, and when these are received in the Bond Transactions ledger (at the top), they can be transferred across to the Bond Authority. You can track how much has been transferred to the Bond Authority by the lodged total at in the Bond Lodgements ledger at the bottom of the screen:


Over time, the Tenant will have paid off their Bond in full. When you have transferred the entire amount of the Bond to the Bond Authority, the ledger will show that the Tenant does not owe you any money for their Bond ($0.00 total at the top of the screen).



The Bond Lodgements section will show the total amount you have transferred to the Bond Authority in the Bond Lodgements section, and when the Tenant has paid their entire bond and you have transferred the entire Bond to the Bond Authority, the Lodged amount should show the same figure as the Bond Amount:




How to record a Bond decrease and refund to a Tenant if you are required to record Bond Lodgements to the Bond Authority

When a Bond is decreased, you will need to record the payments you have received back from the Bond Authority, and refunded to your Tenant.


Initially, you will need to change the Bond Amount field to reflect the decreased amount of Bond charged. In this example, a rent review has found that the Bond should be decreased to $950:


The total at the top of the screen now shows that the Tenant is in credit for their Bond, and you will then need to contact the Bond Authority so you can request the amount to be refunded to the Tenant.


When you receive this amount from the Bond Authority, you can record a debit lodgement transaction in the Bond Lodgements ledger for the refunded amount (in this case $50.00). Click Enter Bond Lodgement and add a debit transaction:


Then, you will need to provide this refund to your Tenant. To record this, enter a debit 'Bond Refund' transaction in the Bond Transactions ledger by clicking the 'Enter Bond Transaction' button and entering the transaction as a Bond refund, with the date, amount refunding and any comments:


The total at the top of the screen will return to $0.00 and the refund is completed. 


How to record a Bond increase and refund to a Tenant if you are required to record Bond Lodgements to the Bond Authority

When a Bond is increased, you will need to record the additional payments you have received from the Tenant and the lodgement of this/these payment/s to the Bond Authority.


Initially, you will need to change the Bond Amount field to reflect the increased amount of Bond charged. In this example, a rent review has found that the Bond should be increased to $1100:



The total at the top of the screen now shows that the Tenant is in debit for their Bond (in this example, they owe an additional $100) and you will need to contact the Tenant so that you can request the additional amount required for their Bond.


When the Tenant pays you the additonal money required for their Bond, you can click 'Enter Bond Transaction' and enter the amount they have paid for their Bond:

Once they have paid this amount off, the total at the top of the screen will show as $0.00.


You can then transfer the payment(s) to the Bond Authority, and click Enter Bond Lodgement to record this:

The Bond Lodgements section will show the total amount you have transferred to the Bond Authority in the Bond Lodgements section, and when the Tenant has paid their entire bond and you have transferred the entire Bond to the Bond Authority, the Lodged amount should show the same figure as the Bond Amount:



For further assistance with Bond Lodgements in Chintaro

Please contact support@chintaro.com.au for further information about recording Bonds in Chintaro.