Xero - Receive and Refund Bond/Deposit

Example 1

Invoice with full payment plus additional deposit/bond and refund of full deposit/bond amount only 

Action in HirePOS

  • Create Invoice for $200.
  • Receive $500 ($200 payment plus $300 bond).

Outcome in Xero after export

  • $200 payment is applied against Invoice in Xero and Invoice status changes to PAID.
  • $300 Bond is applied as an 'Overpayment' and appears in Xero 'Account transactions' as $300 Received as Overpayment.
  • $300 Bond is refunded and appears in Xero 'Account transactions' as $300 Spent as 'Payment' Cash Refund allocated against the original overpayment.

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