How to Record a B.C. Security Deposit Paid by e-Transfer

To record a B.C. security deposit paid by Interac e-Transfer, keep a separate deposit-ledger entry linked to the tenancy agreement, the completed transfer, the bank deposit, and the move-in condition inspection. Record the amount, payer, rental unit, deposit type, payment date, status, reference, interest, and final return or authorized deduction. Do not record the deposit as ordinary monthly rent.

In British Columbia, a security deposit is also commonly called a damage deposit. The province specifically lists an e-Transfer confirmation as a record a tenant can keep as evidence of a deposit, but that confirmation is only one part of the tenancy and deposit trail.

What Are the B.C. Rules for Security and Pet Damage Deposits?

The B.C. Residential Tenancy Branch says a landlord can charge no more than half of one month's rent as a security deposit. A pet damage deposit is separate and can also be no more than half of one month's rent. The amount is based on the rent when the tenancy agreement starts; it does not automatically rise after a rent increase.

The province's current deposit guidance also says:

• A tenant must pay the security deposit within 30 days of signing the tenancy agreement.
• A tenant must pay a pet damage deposit within 30 days of when it is required.
• A deposit cannot be applied to rent without the landlord's written permission.
• Move-in and move-out condition inspections are important to both parties' deposit rights.
• At the end of the tenancy, the landlord must follow the required return, written-agreement, or Residential Tenancy Branch process rather than simply keeping the deposit.

These rules apply to tenancies covered by B.C.'s Residential Tenancy Act. Different arrangements, disputes, or exempt accommodation may require advice from the Residential Tenancy Branch or a lawyer.

What Should a B.C. Deposit Ledger Include?

Create one ledger entry for each security or pet damage deposit. Include:

• Property address and unit
• Tenant or tenants named in the agreement
• Name displayed on the e-Transfer, if different
• Deposit type: security or pet damage
• Monthly rent when the deposit was requested
• Maximum permitted amount and amount actually received
• Date requested and date due
• e-Transfer date, amount, status, and reference number
• Date the bank confirmed the deposit
• Tenancy start date
• Move-in and move-out inspection dates
• Interest accrued and the calculation date
• Written forwarding-address date
• Amount returned, date returned, and refund reference
• Any deduction authorized in writing or amount claimed through the RTB
• Links to the tenancy agreement, inspection reports, correspondence, and orders

Keep the security deposit and pet damage deposit as separate rows even if the tenant sends one combined transfer. Allocate the total clearly and preserve the original transfer amount.

How Do You Record a B.C. Deposit From Receipt to Return?

1. Confirm the tenancy, deposit type, and lawful amount

Start with the signed tenancy agreement. Confirm the monthly rent, whether the payment is a security deposit, a pet damage deposit, or both, and the amount requested for each.

Do not label a payment “deposit” without identifying its purpose. First month's rent, a security deposit, and a pet damage deposit have different roles even if a tenant sends them on the same day.

2. Capture the e-Transfer without assuming settlement

Record the payer, amount, date, displayed status, and Interac reference when available. Then open the financial institution through its known app or website and confirm the money reached the intended account.

If the transfer is pending, declined, cancelled, or expired, leave the deposit balance open and follow the e-Transfer exception workflow. Do not mark the deposit received only because an email arrived.

3. Put the payment in the deposit ledger

Link the completed transfer to the rental unit and tenancy agreement. Record the security and pet damage portions separately from monthly rent received.

If a roommate, relative, employer, or assistance program sent the money, preserve both the displayed payer and the tenant name. Add a note explaining the connection instead of changing the payment record to make the names match.

4. Give a clear acknowledgement and preserve the evidence

The B.C. Residential Tenancy Act specifically requires a receipt for rent paid in cash. An e-Transfer confirmation is different, and the province lists it as evidence a tenant should keep for a deposit. Even so, a landlord can reduce confusion by acknowledging the amount, date, rental unit, deposit type, and remaining balance in writing.

Keep the tenant's e-Transfer confirmation, the landlord's deposit notification, and the bank record. Each can answer a different question about what was sent, what was received, and how it was allocated.

5. Complete and preserve the condition inspections

The payment record does not establish the condition of the rental unit. The landlord is responsible for arranging the move-in condition inspection and giving the tenant opportunities required by the rules. B.C. guidance says the landlord must give the tenant a copy of the move-in inspection report within seven days.

At move-out, compare the move-in and move-out reports and keep photographs, repair records, and correspondence where relevant. The province warns that failing to follow the inspection process can cause a landlord or tenant to lose deposit rights. Do not use the e-Transfer record as a substitute for the required inspection documents.

6. Track interest and changes during the tenancy

Keep the original principal unchanged and record applicable interest separately. Use the B.C. government's deposit-interest calculator or current Residential Tenancy Branch guidance rather than assuming a fixed rate.

If rent changes, do not automatically increase the deposit. If the tenancy, occupants, ownership, or property management arrangement changes, preserve the documents showing who holds the deposit and who will administer its return.

7. Record the end-of-tenancy outcome

Section 38 of the B.C. Residential Tenancy Act sets the process after the tenancy ends and the landlord receives the tenant's forwarding address in writing. Within the applicable 15-day period, the landlord generally must return the deposit with interest, obtain the tenant's written agreement to a deduction, or apply to the Residential Tenancy Branch to keep an amount.

Record the actual outcome without deleting the original deposit:

• Full return: create an outgoing payment linked to the deposit ledger.
• Agreed deduction: preserve the tenant's written consent and show the deduction and returned balance separately.
• RTB application or order: keep the application or order and record only what it authorizes.
• Deposit applied to rent: preserve the landlord's written permission and show the transfer from the deposit ledger to the correct rent period.

If the return is sent by e-Transfer, it is a new outgoing transaction with its own date, amount, status, and reference. Reconcile it with the bank withdrawal and close the ledger only when the return or lawful claim is documented.

Is an e-Transfer Confirmation Enough Proof of a B.C. Deposit?

It is useful evidence, but it does not answer every deposit question. A complete record connects:

• Tenancy agreement: why the deposit was required and which tenancy it covers
• e-Transfer confirmation: who sent the amount and the transaction details communicated
• Bank record: whether the funds were deposited or returned
• Deposit ledger: principal, interest, status, and final disposition
• Condition inspection reports: the documented state of the rental unit
• Written agreements or RTB orders: authority for any deduction or application

This connected trail helps a tenant confirm payment and helps a landlord or property manager administer the deposit without confusing it with rent.

How TransferLog Helps Organize B.C. Deposit Notifications

TransferLog organizes transaction details found in supported Interac e-Transfer notification emails from connected Gmail, Outlook, and iCloud inboxes. Landlords and property managers can review transactions, assign a consistent property or deposit category, and export records as CSV or PDF on the Pro plan.

Use the export as the notification side of the deposit workflow, then match it to the tenancy agreement, deposit ledger, bank account, and inspection reports. TransferLog does not create a tenancy receipt, calculate B.C. deposit interest, conduct inspections, hold trust funds, determine a lawful deduction, or apply to the Residential Tenancy Branch.

For ordinary monthly payments, use the rent payment reconciliation guide. Ontario landlords should use the separate Ontario last month's rent deposit workflow, because Ontario and B.C. deposits have different purposes and rules.

Official Sources

• B.C. Residential Tenancy Branch: Tenancy deposits and fees
• B.C. Residential Tenancy Branch: Move-in condition inspection
• B.C. Residential Tenancy Branch: Moving out of rental units
• B.C. Residential Tenancy Act, sections 18–21 and 38
• Interac e-Transfer help

This article provides general record-keeping information, not legal, tax, accounting, or property-management advice.

Organize supported B.C. deposit notifications with TransferLog. Start free, then reconcile the export with your tenancy and bank records.