Firstly, go to Settings > Chart of Accounts > Add Account and set up an Asset account called Letting Agent, or something similar. Tick Allow Payments From / To Account.
Create the Tenancy if you have not done so already. Select Deposit Paid to Letting Agent on the Letting Agent tab of the set up wizard.
Start at Tenant Manager > Tenancies > Select your tenancy > Manage Deposit > Enter the details. Be sure to set the Type of Scheme to Custodial.
Click Deposit Received from Tenant and then Add Payment to show that the deposit has been received. Add the deposit to a dummy statement.
You can see this in Tenant Manager > Payments > Tenant to Letting Agent tab.
Open the payment and click on the Statement name to open the statement. Click Add Payment and record a payment into the Letting Agent account.
Back in the Manage Deposit section, tick the Deposit Forwarded to Custodian flag which has just appeared and enter the details. Again, set the Bank Account to Letting Agent.
You can see this in Tenant Manager > Payments > Landlord to Custodian tab.
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