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Making Bank Deposits

Bank Deposit Documents represent a bank deposit slip you would use to deposit checks and cash at your bank.

When you receive payment from a Customer by check or cash you would usually make the deposit to the bank at a later point in time. Until that point, the money is located in a Non-deposited funds account, and it is the default account for receiving payments from Customers.

Payments that go directly into the bank, such as an electronic transfer, you have to specify the appropriate Bank Account.

In short, the Bank Deposit Document allows you to deposit cash currently held in your Non-deposited Funds account into the appropriate Bank Account.

Prerequisites


Working with Bank Accounts

How to create a new Bank Deposit

  1. From the Explorer click BankingBank Accounts, to see the list of Bank Accounts.
  2. Click ‘View‘ against the account for which you want to make the deposit.
  3. From the account’s ‘Actions‘ drop-down menu click ‘Make Deposit‘.
  4. This displays the new Deposit Document (as shown below).

Making a Bank Deposit

Making a Bank Deposit

The steps in the diagram show how a deposit is made:

  1. Click on ‘Make Deposit‘ from the ‘Actions’ drop-down menu.
  2. A reference number is auto-assigned. See Working with Reference numbers (Ref #). You can change it if preferred.
  3. The date you made the deposit goes here which may be different to the date the check or cash was received.
  4. Select the currency here for deposit in that currency, if you make use of multi-currency.
  5. This is a memo for accounting purposes. See Working with A/C Memo(s).
  6. From the list of Non-deposited payments shown, select which payments you want to deposit. When you select a payment the Deposit Amount field is updated appropriately.
  7. Once complete, save the deposit by clicking ‘Save‘.

NOTE:
Once a Deposit has been saved it cannot be edited, but it can be deleted.

If you try and edit a Payment, an error will display, however the ‘Deposit‘ link in the error message, will lead you to the Deposit Document on which the Payment is recorded.

Also Read About


Working with Payments from Customers (Money In)
Working with Memos