Understanding the Finances Section

The Finances section helps you track rental payments, deposits, and outstanding balances. Use this area to monitor what's owed and what's been paid.

Financial Summary Overview

When you view a rental agreement, you'll see a financial summary that displays:

• Line items — the facility rental charge (calculated by rate and duration)
• Add-ons — any additional services or products
• Deposit due — the minimum amount required to confirm the booking
• Total due — the full rental cost
• Amount paid — what's been received so far
• Remaining balance — what still needs to be paid

All amounts are displayed in your institution's currency (USD by default).

Reading Payment Status

Each rental shows its payment state:

• Awaiting Deposit — the renter must pay the deposit to confirm
• Awaiting Balance — the deposit is paid; the renter owes the remaining amount
• Paid — the full amount has been received

You can see these statuses in the rentals table on your Agreements tab.

Tracking What's Due

The system calculates remaining balances automatically based on:

1. The rental rate (hourly or daily) multiplied by duration
2. Any add-on charges
3. Payments already received

If a renter has overpaid, the remaining balance displays as zero.

Sending Payment Requests

You can send renters to a payment page by using the "Send to finance" action on a rental. This generates a link the renter's finance contact can use to pay the outstanding amount.

Invoice Numbers

Each rental can have an invoice number for your records. If assigned, it appears as #INV-0001 format on the agreement.

What You Cannot Confirm

I could not confirm from the provided information: specific refund policies, payment processing timelines, or dispute resolution procedures. Refer to your institution's payment settings for those details.