Posting a Deposit

Accounting>File>Banking>Add/Edit Checks>Post A Deposit button

This selection posts deposits to the check register and updates related files.

How To:

1. Enter a deposit date. The date of the deposit can fall within the current month or a future date.
   
   

     Note: A deposit with income generated by both sales and income from other sources must be done in two separate deposits.

2. Enter a deposit amount. The system will only force the deposit to balance with the receipts if the General Ledger has been installed. Match the receipt recap report to the validated deposit slip / settlement.
3. If it has been installed and if the deposit is for other than sales, then uncheck Deposit for Sales Income.
    
4. Click OK. The Add Detail dialog will pop up. Enter the respective amount to be posted to each General Ledger account. Select OK when add it to the Journal.
5. Edit or add to the Journal Distribution as needed, select OK when finished.
   

For a flex or credit card deposit

Post the entire amount of the deposit to the checking account so that the receipts and deposits balance. Then post a negative deposit for the amount of the charge card fee.

Deposit for Sales Income

If the General Ledger has been installed, after entering the deposit date, amount of deposit, and the deposit number (we recommend using sequential numbering for all deposits), you will be asked if the deposit is for Sales Income. If it is for sales, you must enter the ending receipt number included in this deposit.

All deposits for sales are deposited using system-generated receipt numbers that are produced each time a payment or other transaction is posted. Include all receipt numbers in a deposit even if one is for a zero deposit transaction such as a discount.

The deposit routine accounts for every receipt number generated by the system. These entries automatically checked to see that they reconcile. If they do reconcile, all files will be updated automatically. Failure to reconcile will cause the program to ask you to enter the proper ending receipt number or to press escape and abort the entry.

Deposit Info Dialog

Field	Explanation
Deposit Date	Enter the date the deposit will be taken to the bank. This date is used to post to the G/L. This can be a future date.
Deposit Amount	Enter the total amount of this deposit.
Deposit Number	Enter a number that is meaningful to you or press the F8 button for a system-generated number. The deposit number will display in the Journal for auditing purposes.

  Tip: If posting a deposit for Income Other Than Sales, use the F8 feature to prevent duplicate deposit numbers. If a duplicate deposit number is used for this type of deposit, when viewing the G/L distribution later on, the detail for both will show.