Bank deposits allow you to group multiple Cash Receipts and/or Debit Journal Entry Lines together as a means to reconcile to your bank statement.
Make a Bank Deposit
Navigate to Accounting Home and click the Create Entries tab. Then, under the Revenues menu, click Bank Deposits.
On the Bank Deposits/Home page, click New.
- On the Bank Deposit Edit/New Bank Deposit page, select a Bank Account and enter the Deposit Date. Deposit Reference is used to identify the deposit in the bank reconciliation and is not required. You can also filter the transactions by GL Variables by selecting a GL Variable on this screen.
- On the Bank Deposit Detail page, click Manage Bank Deposit.
- In the lower right pane, you will see all Cash Receipts and Debit Journal Entry Lines that are in the selected date range, are not associated with another deposit and include a link to the individual record.
- Check the records associated with this deposit and click the Associate Selected button.
- To easily create another Bank Deposit, click New Bank Deposit from the Manage Bank Deposit screen.
Note: You can increase and decrease the date range to find records, and use the Type field to filter only Cash Receipt or only Debit Journal Entry Lines.
Note: Click here to view the above image in full screen.
Note: The Ledger Amount field is only applicable if you have multi-currency enabled.
If you attempt to change, add, or remove a record that is associated with a Bank Deposit that has already been matched on the BDC Unmatched Bank Transactions screen, the “This record is matched with downloaded bank transaction BT-XXXXX. Changing the amount will unmatch it on the Bank Direct Connect page” message displays.
If the warning message(s) is ignored:
- The Bank Deposit will be unmatched from the bank transaction it was matched to.
- The Cleared Date field on the Bank Deposit will be blank.
- The Bank Transaction field on the Bank Deposit will be blank.
Additionally, if a Bank Deposit has been cleared on a Bank Reconciliation, and you attempt to change, add, or remove a record, a warning message will display.
I'm not seeing the button referred to in Step 8: "Click the Create Reconciliation Reports button to review all uncleared deposits, cash receipts, cash disbursements and journal entry lines."
#8 is an error in the article. It apples to the bank rec. Thanks for pointing this out. I have corrected it.
Could you consider adding a "New Deposit" button to the "Manage Cash Receipts" screen so that you don't have to hit "Back" and then "Bank Deposits" and then "New" to do a new bank deposit. With several ACH deposits arriving daily, these are posted as separate deposits to tie to the bank rec. So there are lots of steps to record a series of bank deposits. thanks!
From the bank deposit screen, you can click on the create new link and select bank deposit there. This will save you a couple of steps:
This is a good suggestion Jeanae,
We will add a New button to the view page like we do on cash applications. Thanks for the suggestion!
Awesome. Thanks a ton!!!
Would it be possible to make the Reference column sortable?
I will add this as a product enhancement, but I believe there may be an issue around this because the reference field can be a number and/or text.
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