Bond types

Bonds are a sum that are held as security and will generally be reimbursed at a future date. For example, a bond can be held as a deposit for supplied hardware that will be refunded upon return or as a security deposit to mitigate a potential risk of default when providing credit to a customer.

A bond is not revenue. A bond is a debit transaction that does not put a customer account in credit. An active bond is a liability. A bond type allows the transaction to be managed and reported on. Generally bonds do not include or attract a tax component.

Bonds are added to an account through either the bonds tab on an account or when configured as a workflow ticket action.