Deposit accounts

Infor Public Sector uses trust or deposit accounts to help ensure that the work performed on an application will be paid. The deposit account is generated for an application when an applicant makes an initial deposit into it. Deposit accounts typically require a minimum balance, and an additional deposit may be charged if an account falls below this amount. Certain review and inspection fees, referred to as at cost fees, can then be paid using deposit funds. At cost fees are fees that are charged based on the duration of the work performed, such as a $45 fee for a three-hour inspection. An application can have more than one deposit account.

Deposit accounts are used to pay an application’s at cost fees for reviews and inspections. Infor Public Sector creates a deposit account when the applicant pays an initial deposit fee, and saves the funds for later user in paying at cost fees.

You can view an application's current deposit balance on the Deposits subtab of the Fees tab. The application's deposit accounts and their current balances are displayed in the Deposits Accounts grid. Each entry shows a unique account number, a description of the type of initial deposit fee that generated the account, and the account's current balance.