Payments: Bonds/Holding Deposits

Centres that charge Bonds, or Holding Deposits, separate to enrolment/bookings fees can record these transactions in Discover.

Set Up

In order to record bonds/deposits on a child's account, the bond fields will need to be activated in Centre Settings.

1. Navigate to Centre Settings > Bonds/Deposits.
2. Scroll down to 'Deposits' and tick 'Centre Uses Deposits'.
3. If there is a standard bond charged, enter this figure in 'Deposit Amount'.
4. Tick 'Deposits Released as Credits' if you would like to credit the account when a child leaves care.
5. Tick 'Show Deposit on Statement' to display the value of the bond on the parent/guardian statement.

Recording Bonds

1. Navigate to Children > Select a Child.
2. In the Child tab, scroll down to Deposits.
3. Select 'Received' from the Deposit Status dropdown.
4. Click the Calendar icon to record the date the bond/deposit was received.
5. Type in the amount of bond/deposit paid.
6. Scroll to the bottom of the page and click 'Save'.

Please note: Discover does not automatically create a financial transaction for the Bond Receipt, this section is for recording only. If you wish to have the initial bond transaction recorded on the account, you will need to create an ad-hoc invoice and corresponding manual payment entry upon receipt of the bond.

Releasing the Bond

1. Navigate to Children > Select a Child.
2. In the Child tab, scroll down to Deposits.
3. Select 'Released' from the Deposit Status dropdown.
4. Click the Calendar icon to record the date the bond/deposit was released.
5. Scroll to the bottom of the page and click 'Save'.

Discover will advise you that the Bill Payer will be credited and it will create a Financial Transaction. Many centres use the credit on the accounts to offset final invoicing for settlement.

Viewing Bonds/Deposits

Bonds and Deposits can be viewed via the Child Details Report in Children Reports.