Deposit Management

Deposit Management

Managing booking deposits in EquiBillBook helps secure reservations and reduce no-shows. This guide explains how to collect, record, and manage deposits for table bookings.

What is Deposit Management?

Deposit management allows you to collect advance payments from customers to secure their table reservations. Deposits help ensure customers honor their bookings and can be applied towards their final bill or refunded based on your policy.

Setting Deposit Amount

To set a deposit for a booking:

1. Navigate to the booking creation or editing page
2. Find the Deposit Amount field
3. Enter the deposit amount
4. The amount can be a fixed amount or percentage of estimated bill
5. Save the booking with the deposit amount

Deposit Configuration

Configure deposit settings in Restaurant Settings:

• Default Deposit: Set a default deposit amount or percentage
• Deposit Policy: Define when deposits are required (e.g., for large groups, special events)
• Minimum Deposit: Set minimum deposit amounts
• Deposit Accounts: Configure accounts for recording deposits

Recording Deposit Payments

To record a deposit payment:

1. Open the booking details
2. Navigate to the Payments or Deposits section
3. Click "Add Payment" or "Record Deposit"
4. Enter payment amount, method, and date
5. Save the payment record
6. The system will update the deposit status

Payment Methods for Deposits

Deposits can be collected through various methods:

• Cash: Record cash deposits received in person
• Credit/Debit Card: Process card payments for deposits
• Online Payment: Accept deposits through payment gateways
• Bank Transfer: Record bank transfer deposits
• Other Methods: Use other configured payment methods

Deposit Status

Track deposit status for each booking:

• Required: Deposit is required but not yet paid
• Partial: Partial deposit has been received
• Paid: Full deposit has been received
• Applied: Deposit applied towards final bill
• Refunded: Deposit has been refunded

Applying Deposits to Final Bill

When customers pay their final bill:

1. Create or open the sales invoice for the booking
2. The system will show available deposit amount
3. Apply the deposit towards the invoice total
4. The remaining amount (if any) will be the balance due
5. Process payment for the remaining balance

Deposit Refunds

To refund a deposit:

1. Open the booking details
2. Navigate to the payments section
3. Click "Refund Deposit"
4. Enter refund amount and method
5. Add refund reason if required
6. Process the refund
7. The system will update deposit status and record the refund

Refund Policies

Common deposit refund scenarios:

• Cancellation: Full or partial refund based on cancellation policy
• No-Show: Typically no refund for no-shows
• Cancellation Charges: Deduct cancellation charges before refunding
• Refund Timeframe: Process refunds within specified timeframe

Deposit Reports

Generate reports to track deposits:

• Deposit Collection: View all deposits collected in a period
• Pending Deposits: See bookings with unpaid deposits
• Deposit Refunds: Track all deposit refunds
• Deposit Summary: Summary of deposit collections and refunds

Best Practices

• Set clear deposit policies and communicate them to customers
• Collect deposits for high-value bookings or special events
• Record deposits promptly to maintain accurate records
• Process refunds according to your cancellation policy
• Keep deposit records for accounting and audit purposes
• Reconcile deposits regularly with payment records
• Use deposits to reduce no-shows and secure reservations

Next Steps

After setting up deposit management:

• Configure deposit settings in Restaurant Settings
• Train staff on deposit collection procedures
• Set up deposit payment methods
• Create deposit collection workflows
• Generate deposit reports regularly