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Managing Bank Deposits


If you have many Customer Receipts, and you want to simplify the Bank Reconciliation process, you can use the Bank Deposit feature to associate multiple Customer Receipts with a Bank Deposit transaction. Only Bank Deposit transactions will appear on the Bank Reconciliation.

Set up

Enter a GL Account to Account Undeposited Cash on the Company Setup. This account must not be a Bank Account that you plan to do Bank Reconciliation.

If you do not plan to use the Bank Deposit feature, you can enter the default Bank Account to Account Undeposited Cash, or leave this field blank.

The Customer Receipt function will automatically use the Default Bank Account if Account Undeposited Cash is blank.

How to Manage Bank Deposits

Open the App Launcher. Search for Bank Deposits.

Click New.

Populate the Bank Deposit header with the following values:

  1. Bank Account: Select the Bank Account used in this deposit.

  2. Deposit Date: Enter the actual Deposit date.

  3. Deposit Reference: Enter any relevant notes here.

  4. Amount: This will be automatically updated as Cash Receipts are associated with the Bank Deposit.

  5. GL Ledger: Required if Multi-Ledger is enabled.

Next, click the Manage Bank Deposit button.

On the bottom right window, you will see all Customer Receipts with the same GL Ledger, Bank Account is Account Undeposited Cash, and are not associated with a Bank Deposit yet. You can enter a different Start Date or End Date to narrow down the search result.

You will not see Customer Receipts with Bank Account equals to a regular Bank Account, instead of the Undeposited Cash Account.

Select the Cash Receipts that were deposited in this transaction. Click the Associate Selected button.

The selected Cash Receipts will now appear on the bottom left window.

Click Back.

On the Bank Deposit, the Amount field is updated with the total deposit amount. Associated Customer Receipts are shown on the right as a related list.

Post the Bank Deposit to move the total Customer Receipt amount from the Undeposited GL Account to the Bank GL Account.

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