Make Deposits

There are two different ways deposit entries can be made to the checking register and cash account. Deposits can be deposited directly to the cash account and register when the cash is received, or the deposit can be grouped with other receipts and deposited as a group into cash. If the receipts are grouped, you'll need to use the Make Deposits form to make the deposit entries into your cash account.

When a receipt is grouped, the receipt is posted to the Undeposited Funds account instead of the cash account. Then when you're ready to fill out a deposit slip to take the deposit to the bank, you can use the Make Deposits form to group the receipt entries into one deposit. This makes it much easier to reconcile the cash account to the bank statement.

Adding Deposits

To make a deposit entry, go to Make Deposits from the Tasks menu.

Click on the New button or press Ctrl+A to add a new deposit.

The system will then list all of the receipts that have not been deposited. This will be a list of all entries in the undeposited funds account.

Enter the date that should be used for the deposit entry. This will be the date that determines what accounting period the deposit entry will use when posting to the cash account and the check register.

Choose the cash account the deposit entry should be made to by clicking on the Account dropdown.

To choose a receipt to include in this deposit, put a check mark in the checkbox under the Dep column. Once all of the desired receipts have been chosen, click on the Save button or press F10 to save the entry.

You can also use the Mark All and UnMark All buttons to quickly mark all receipts or unmark them.

Changing Deposit Entries

You can also change a deposit entry by navigating to the deposit entry to be changed by either using the navigation buttons or the List button on the toolbar.

Once the desired deposit entry is displayed, receipts can be removed from the deposit by taking the check mark out of the receipt's Dep column and then Saving the changed deposit.

If receipt entries need to be added to a deposit, you'll need to delete the whole deposit entry by clicking the Delete button or pressing the Ctrl+D keys. Then, after the deposit is deleted, you can Add a new deposit by clicking on the New button or pressing the Ctrl+A keys. All of the receipts that showed on the original deposit will be listed and available to add to the new deposit.

Deleting Deposit Entries

If you need to delete a deposit entry, navigate to the desired deposit by using the navigation buttons on the toolbar or by using the List button. Then click on the Delete button in the toolbar (red x) and confirm that you want to delete the deposit by answering yes to the confirmation question.

When a deposit is deleted, all of the receipt entries are returned to the Undeposited Funds account and will be available to be added to another deposit.