Bonds are an additional payment to the hire charge, and are used when the customer needs to be advised of the payment amount required prior to the day the hire starts.  Take for example a hire booking/invoice of $1,000 that required a security bond of $500.  The tax invoice will be $1,000 however we need some means of advising the customer they will need to pay the $1,500 prior to hiring the goods.  This is where Bonds are used, and the normal process for Bonds is outlined in the following example:

  1. Booking or Invoice is raised for $1,000.
    Only the 'Booked From' and 'Booked To' dates are populated at this stage.
    1. Click the '+ Add Bond' link below the TOTAL section to show the 'Bond Required' field.
    2. Enter 500 in the 'Bond Required' field.
      Note the 'Total Inc Bond' is displayed as 1,500.
    3. Preview the Booking/Invoice.
      Bond amount and Total Including Bond are displayed in the preview below the Booking/Invoice Totals, advising the customer of the full payment amount required.

The bond section is hidden from the preview once the 'Hired From' date is populated and the hire begins.  The full payment of $1,500 would be received prior to hire, so this section becomes irrelevant. 

  1. Full payment of $1,500 is received.
    1. Click the 'Receive Payment' button.
      The payment screen opens with the $1,000 populated in the Payment section and the $500 populated in the Bond section.
      Save & Preview the payment.
  2. Hire From date is populated and hire begins.
  3. Hire To is populated when the goods are returned.
  4. Bond is refunded to hirer.
    1. Click the 'Refund Payment' button to open the payment screen.
      The 'Refund Bond Amount' is automatically populated with the 500 bond due to be refunded.
      Save & Preview the refund.

What happens if you need to deduct charges from the bond amount?

In this case, you simply add a new item to the invoice for the charges, and the amount to be refunded will be reduced accordingly.

If you specify that a Bond is required in the Item Prices setup, however you do not specify a Bond amount on the Invoice, then the Bond required value will be used as Deposit required, as a fall back to ensure extra payment is received.

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