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Add and Charge Damage/Security Deposit
Security deposit allows you to charge a pre-set amount for a liability that may arise during a rental period. It could be due to lost or damaged equipment, or negligence.
With Reservety, you can easily setup security deposit and charge customers anytime during the rental process. With this feature, you can put a hold on customers’ cc without actually charging at first. This means you can save processing fees involved in charging and refunding payment.
This feature works by authorizing a fixed deposit fee giving you the peace of mind to rent without worrying for damage/lost equipment.
Note: At the moment this feature is working only with (Stripe), but we can make it work with other payment processors based on your requirment
Setting Up Security Deposit
- Go to Settings > General > Security Deposit
2. Add Security Deposit for all Items as Fixed fee or, percentage as a global setting, or
Add security deposit per category/per product
3. Select the status on which the security deposit is pre-authorized or, automatically authorized
4. Save and you’re all ready.
Charging Security Deposit
After the security deposit is setup and you have recieved your first order. You can charge the customer the whole amount or, a specific amount by going into the order view
- Go to Orders > Orders
2. Select Order
3. Go to security deposit section on bottom-right
4. Enter the amount that you want to charge
5. Click “Capture” button
Deauthorizing Security Deposit
In case, you don’t want to charge security deposit when you recieve equipment in original condition
Go to order view and change order status to “Completed” from status dropdown
