Process a bond refund

If some or all of the Bond is being refunded to your company, it is vitally important that it is recorded correctly in Palace.

  • The refund is commonly for Rent Arrears, cleaning, etc.
  • Rent arrears are just receipted as rent, so receipt of that part is normal
  • If the refund is for a cleaning invoice, you need to receipt it against Receipt Tenancy Other

Note: If you are receipting a tenant invoice, you must create a tenancy invoice first.

  • If you had created a work order for the job and then put the invoice in as a charge to the tenant, the system would have automatically created a Tenancy Invoice.  See the Maintenance Help File for more information.
  • Alternatively, you can receipt the money directly into the property (owner) account as a reimbursement

Note: This is fine to do, but you will not have any records next to the tenant.

The instructions for both are below

Create a tenant debit (invoice) and receipt payment

Sometimes, you must invoice a tenant for something they owe, i.e. Water rates, broken windows, etc.

This is an internal transaction and does not affect your reconciliation.

When the tenant pays the invoice, you have a choice of where the money (once paid) will go. It can go to the owner to reimburse an account they have already paid for, or it can go directly into one of your company ledgers to reimburse your company. I.e. a Fixed Term Lease Break Fee.

You can choose to track each invoice that you have created. This allows you to receipt against an individual invoice. There is also a report that will allow you to keep a record of it.

Right click of the tenant: Reports - Other Amounts Owing. This will show you both debits and credits. (Invoices and payments)

  • Go to Financial > Transactions
  • Click the drop-down Under Generate Single Transactions
  • Select - Invoice - Tenancy
  • Click Generate


  • Search for the required tenant
  • Select the expense, i.e., Cleaning
  • Enter the amount


    • Email - Select whether you want this invoice to be emailed or printed or untick both if it is just for your records only
    • Track Charge - If this is ticked, it will allow you to receipt the tenant money against this invoice specifically
    • Comments - Write comments if needed
  • Click Confirm
  • In the transaction entry screen, click Process

You have the option to download the report. Click close once done.

This has now created an invoice against the tenant, waiting for the money to be receipted.

Once you have the money, continue to the next step

Receipting - Tenancy Invoice

  • Go to Financial > Transactions
  • Click the drop-down Under Generate Single Transactions
  • Select - Receipt - Tenancy Invoice
  • Click Generate


  • Search for the required tenant
  • Under Apply To, select either the owner account or one of the ledger options

Normally, the money from the tenant is reimbursed to the owner for an expense that they have already covered, so the money needs to go back to the owner. However, sometimes you might be receiving the money directly to the company (nothing to do with the owner). If this is the case, then change the Owner Account to Ledger.

If the money is going to the company to be part of the company invoice, then select the Fee Ledger.
If it is just holding until an invoice comes in for the Owner, then choose Bond Ledger.

  • Under Invoices, select the invoice or invoices


Note: You must have an invoice entered if you are receipting into a fee ledger

  • You have a choice to charge a commission here (remember this comes off the owner, and if the owner has already paid this expense, then you have probably already charged a commission
  • Check that the payment method is correct. I.e. direct or cash
  • Add a comment if necessary
  • Click Confirm
  • Click Process

Note: The Tenant Other Amounts Owing Report (On a right click of a tenant) will show the original tenant invoice and then the receipt, giving a total amount

Receipting directly to an owner (if not entering in a tenancy invoice)

  • Go to Financial > Transactions
  • Click the drop-down Under Generate Single Transactions
  • Click Receipt - Owner
  • Click Generate


  • Search for the required property
  • Enter the amount
  • Enter the ref and comments on what the money is for
  • Click Confirm
  • Click Process

Note: There are no fees charged in this function

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