![]() ![]() Loopit enables you to either refund security deposits either partially or in full. Rather than managing manual payments to your customers outside of Loopit, you can now process all security deposit refunds in Loopit when a subscription is either "Cancelled" or "Ended". The ability to refund security deposits allows your business to reduce accounting and administrative overheads by closing the loop on customer accounts and payments. Managing all refunds on-platform will help make record keeping a uniform and efficient process, ultimately providing your business with a single source of truth. Anything before this date will need to be handled with existing processes. Please note that these options will only be available on security deposits collected after 1st March. You can access these new updates in the Payments table under "Invoices and Payments" against each subscriber. In order to apply, claim or refund a security deposit, the subscription needs to be Cancelled or Ended. refund your subscriber's security deposit without needing to make manual payments to your customers outside Loopit.claim security deposits if a subscriber is in arrears or has an outstanding invoice outside of Loopit.apply security deposits against any outstanding invoices.We are proud to announce that we have moved all security deposits onto the platform to help you manage and refund security deposits more efficiently. For security deposits collected after 1st March, you will now be able to: When it comes to handling security deposits, we understand the manual effort required and the record keeping processes involved. ![]()
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