This article is a step by step breakdown on how to set up your security deposits.
General Security Deposit Settings
Navigate to Settings > Car Rental as shown in the picture highlighted in dark blue.
Next, scroll down to the “Security Deposit” section as shown in the picture below.
Here, you can adjust global settings for security deposits:
Security Deposits Can Be Selected – This setting will allow you to have the list of your security deposits to be selected in step 3. This will only apply to internal reservations.
Validate Security Deposit on Pickup Step – This setting will make sure that the customer pays for the security deposit first before they pick up the car.
Always Show Security Deposit – This setting will make sure that the system will always show the security deposit in the reservation summary.
Security Deposits Can Be in Different Currencies – This setting will allow your customers to pay for the security deposit in different currencies that you have in the system. To learn more about supported currencies, click here.
Steps to Show Security Deposit Amount – This setting will allow you to select which steps of the reservation summary you would want to the security deposit to show.
Bookings with Pending Refund of Deposit can be Closed – This setting will allow you to close any reservation without releasing or refunding the security deposit(s).
Show Applicable Excess in Reservation Summary – This setting will allow you to show the applicable excess of the created security deposit in the summary of reservation.
Recalculate Security Deposits on Free Vehicles Classes Upgrade – This setting will be set when there is a variety of security deposits, for different vehicle classes. Which will allow the system to recalculate the one selected if there is a vehicle class free upgrade.
Hide Security Deposits from Public Reservations – This setting will allow you to hide the security deposit from the summary in the public or web made reservations.
How to add a Security Deposit Rule?
Navigate to Settings > Car Rental > Security Deposits > click the blue “Add Rule” button located on the top right of the screen, highlighted in orange in the picture below.
Once you click on the button, a new page will appear. Here, you will find specific settings that will only apply to this Security Deposit Rule created. You may fill in all the details as needed. The system is very flexible and it allows you to set the following:
Name – This is where you enter the label of the Security Deposit.
Reservation Type – You can select if this security deposit will be applicable to ‘Reservations’ or ‘Packages’ (if you enabled the Packages Module).
With branch? – When set to ‘No’ it will be applicable to all the branches if set to ‘Yes’ the security deposit will only be applied to the branches selected in the “Branch” field.
Branch – You can select which branch this security deposit will be activated.
With Additional Charge? – When set to ‘Yes’ the security deposit will only be applied when the additional charge indicated in the “Additional Charge” field is selected if set to ‘No’ it will be applied regardless.
Additional Charge – You can select the additional charge to selected for this security deposit to be activated.
With Vehicle Class? – When set to ‘No’ it will be applicable to all the vehicle classes. If set to ‘Yes’ the security deposit will only be applied to the vehicle classes selected in the “Vehicle Classes” field.
Vehicle Classes – You can select multiple vehicle classes in this field which this security deposit will be active.
You have the option to set if the security deposit is Cumulative and Include Quantities
Pickup Location & Return Location – You can select which pickup and return location is the security deposit active.
Deposit Amount – This is where you enter the amount of the security deposit.
Currency – You can set currency or leave it blank to apply the default currency you are using.
Applicable Excess – You can indicate the applicable excess here.
Effective From & Effective Until – You can set dates here to apply.
Click “Save” at the bottom of the page for the changes to be applied.
How can I set up a Security Deposit based on the Vehicle Class?
If you want to use this security for a specific vehicle class, you can navigate to Settings > Car Rental > Security Deposits > Select the Security Deposit you wish to modify > There you will see the setting “With Vehicle Class” set this to “Yes” and then in the Vehicle Class field to the right you can select the vehicle class you would like to link this to. Be sure to scroll Click on the blue “Save” button once you are done.
How can I reduce or remove the Security Deposit if my customer selects a “Full Insurance” Additional Charge?
Firstly, create the additional charge that your customer will need to select. You can learn how to create an additional charge so by clicking this link here. Next, create a new security deposit with the amount of what you would like to charge your customers and these settings in the picture below.
You will notice that we have selected the additional charge “Full Coverage Plan”. This will be the additional charge that you have created.
How to delete a Security Deposit Rule?
Firstly, click the particular Security Deposit rule that you would like to delete. Next, click the red “Delete” button located on the top right of the page as shown in the image below.
How to setup Security Deposit Online Charges?
Firstly, navigate to Settings > Car Rental > Online Charges as shown in the picture below highlighted in orange and dark blue.
Here on this page, there are a few settings regarding the Security deposits that you can adjust. These settings are “Days in Advance to Charge the Security Deposit”, “Disabled Currencies for Security Deposit”, “Use Online Credit Card Security Deposits?”, and “Enable Automatic Charges on Security Deposits”.
Days in Advance to Charge the Security Deposit – This setting allows you to charge the security deposit x days before the actual reservation begins. If you set this up you will still be able to also send Authorization requests.
Disabled Currencies for Security Deposit – This setting allows you to disable the certain currencies that you support in the system as to not be able to be collected for security deposits.
Use Online Credit Card Security Deposits? – When enabled, this setting allows you to collect security deposits online when making a reservation.
Enable Automatic Charges on Security Deposits – When enabled, this setting will automatically charge the security deposits for long term rentals. If you enable this, then you will still be able to send Authorization requests. Please note that if an Authorization payment request is made on step 6 the charge will be made on the existing credit card on file. If the transaction is completed, then a success email will be sent to the customer. If not, then the system will send a security deposit request email.
How to manually add an offline Security Deposit Payment for a booking?
Firstly, navigate to Step 6 (Payments) of the reservation process. In that step, click on the blue “Add Offline Payment” button highlighted in orange in the picture below.
Once you have clicked the button, a new window will appear. In this window, select “Authorization” under Payment Type highlighted in orange in the picture below. After you have selected the “Authorization” type, add in the payment type and the details of the payment. Next, click on the blue “Save” button.
If you would like your customer to pay the security deposit online, select the green “Request Authorization” button highlighted in orange in the picture below.
Once you have clicked on the button, a new window will appear. Here it will automatically key in the email address that the customer has entered in step 4 as shown in the picture below. Select the due date and click on the blue “Send Request” button.
The system would send an email to the customer with a payment button that the customer can pay online using the payment gateway that you have integrated with the system. You can always send these requests at any time.
How to automatically release Security Deposits?
You can set the security deposit to be released once the booking is completed
Navigate to Settings > Car Rental > Online Charges.
Next, scroll down and find the Release Security Deposits After X Days field. This is where you can enter the days after to release the security deposit.
Scroll down to the bottom of the page and click “Save” for the changes to be applied.
For more information about security deposit authorization payments, and how to add them to the system click here.