Bond Disbursement


This process gathers together the bond receipts held in the Aspect Property Manager which have yet to be disbursed to the bond centre.  It allows for a single payment to the bond authority to cover any number of tenants.

The screen elements are really self-explanatory and their usage is covered in the text below.

Disbursing Bonds to the Bond Centre
The word "disburse" (and its derivatives) with respect to bonds has been reserved to mean sending money to the bond centre.  When bond money is being returned to a tenant it is by means of a Tenant Payment.  This topic deals with bond disbursements.

When it is time to disburse bonds (to the bond centre) the starting point should always be the Bonds menu > Reports > Bonds Held report.  From this report you should be able to determine which bonds are to be disbursed and possibly correct any problems which exist.  You may wish to exclude money recently received as the funds may not have been cleared by the bank.  There may be bond details which appear on this list which do not appear on the Bonds menu > Disburse Bond screen because the tenancy has not yet started.

Next select the Bonds menu > Disburse Bond entry and the Bond Disbursements screen will appear displaying one line for each tenant who has bond money which can be disbursed and meet the disbursement rules.
  • Most lines will be highlighted (bold text) and it is those lines which will have the bond disbursed.
  • Some lines may be deselected (non-bold text) and will belong to a tenant who has a vacate date entered.
  • To disburse the bond simply highlight the line by double clicking.
  • If you do not want to disburse any entry double click the line to deselect it and the text will become plain (non-bold text).
  • Use the two "select" buttons for bulk selection / deselection.

    When you have made your selection
  • press [Make Payment] to display the payment screen
  • enter the payment date, method and cheque number or bank account code
  • print the remittance advice
  • attach the bond lodgment forms and cheque

  • Bonds receipted before the tenancy starts can not be disbursed until the start of tenancy date is reached.
  • When disbursing bonds the amount being held for each tenant can either be disbursed or not disbursed. You can not disburse a portion of the bond amount.  Why you would want to I can't imagine but if you really need to do so try these steps:-
      4 enter a minus bond value receipt to reduce the bond held to the amount you wish to disburse
      4 enter a second receipt with a positive bond amount allocated to Held as a temporary allocation.
      4 disburse the bonds
      4 change the second receipt allocation from Held to Bond.
  • The payment defaults are set on the Setup menu > Company Details > Bonds tab.
  • If you accidentally disburse a bond and before the payment is sent to the bond centre
      4 go to Bonds menu > Transactions
      4 locate the group of disbursements - identified by "Bond Disbursement" in the TransText column
      4 select the tenant whose individual disbursement you want to cancel
      4 press [Delete] on the navigator bar
      4 re-print the remittance advice.
  • If you have disbursed the bond and sent the payment to the bond centre you will need to apply for the bond to be returned.  When you receive it back follow the procedure covered here.
  • If the disbursement cheque number requires changing go to Bonds menu > Transactions and delete all the disbursements with the same transaction number in the TransNo column and repeat the entire disbursement.