Creating Bank Deposits from a Clearing Account

Bank deposits are used to consolidate multiple payments or cash transactions from clearing accounts into a single deposit record for a specific bank account.  Only payments recorded to Clearing Accounts associated with a cash account/bank account can be included in a bank deposit.

Banking > Transactions > Bank Deposits

1. Enter or select the Cash Account.  Choose the bank account where the actual deposit is being made.
2. Enter the Deposit Date. This should reflect the date the deposit appears on the bank statement.
3. Go to the Payments tab and click on Add Payment.  

    

4. The ‘Add Payment to Deposit’ window will open.

5. Select the Clearing Account and Payment Method that was used during the original payment entry.

6. Adjust the Date Range if needed.  The date range defaults to the previous week. 

7. Select the Payments that should be included in this Bank Deposit.

8. Click Add & Close which will add the selected payments to the Bank Deposit and return to the main deposit screen.  

9. The user has the option to Release the Bank Deposit immediately from this screen. Releasing the deposit will update the General Ledger and move the funds from the clearing account to the selected bank account.

   NOTE: The user may choose to select HOLD to keep the Bank Deposit in Balanced status if they wish to review or print an edit list before releasing. This provides an opportunity for final verification prior to posting.

Banking > Reports > CA Edit or CA Edit Detailed

These reports allow users to review and verify entries before releasing the bank deposit. 

Printing the Deposit Slip

Once the bank deposit has been released, the user can print a Deposit Slip report for record-keeping or reconciliation purposes.

Banking > Printed Forms > Deposit Slip

1. Select the Reference Number for the applicable bank deposit.
   1.  Click Run Report to generate the Deposit Slip.    
2. The report can be Printed or Exported.