MyVRZone.com Knowledge Base

Gold & Platinum Subscribers only

During setup, the schedule and amount of any security deposit can be set at Setup->Property->Payments. The amount is set for each property's currency that is accepted.

Recording a refundable amount

Each payment entry on the Reservations->Payments tab can be recorded with a portion of the total that is refundable.

So you can record:

• a security deposit credit card authorization with the refundable amount set to the total amount - it is all refundable. Be sure to set the payment method to CCard Auth and not CCard Charge
• a check for the security deposit with the refundable amount set to the total amount - it's a separate check
• a balance+security deposit check with the total set to the check amount and the refundable amount set to the security deposit amount - the one payment is split between the two

You can specify whether refundable amounts can be paid in cash and/or authorized via a Credit Card during setup.

When the stay is over:

• for any payment made in cash you'll need to enter a refund payment - the schedule you have set will determine when the return amount shows up as due
• for any payment made as a CCard Auth, you need do nothing - it will automatically expire.

All refundable amounts are excluded from tax calculations

Credit Card Authorizations

Authorizations via a Credit Card are often taken for security deposits as this involves less handling of cash and still provides coverage.
Sometimes the Credit Card is actually processed with an authorization in order to hold that amount available - there is often a short limit (1 to 4 weeks) on how long this authorization can be held except for PayPal that has a 60 day period.
In other cases the owner takes a signed authorization that does not get processed unless there is a problem - this avoids any short holding period and any fees that may be assessed for the Authorization itself. Any signed authorization needs to ensure that there is sufficient liability coverage for damage above and beyond normal wear and tear.

The Guest Zone™ will show an Authorize Now button if the refundable amount can be taken via credit card when you have set your merchant account provider and allow payment by authorization. The Guest will be taken though the credit card processing pages and then to a final page for them to print, sign and mail/fax. You can set the Refundable Terms legal language used in the form during setup that will override the text that is put there by default.