Bank deposits
Cash invoices and payments received into Undeposited Funds wait there until you take them to the bank. A bank deposit moves them into the bank account, in one amount that matches your deposit slip.
Open Banking›Bank Deposits, or use + › Bank Deposit.
Make a deposit
- Click New. Set the Date, the Branch and the bank account under Deposit To.
- Under Undeposited Payments, tick the payments you are depositing. Filter by Payment Mode (for example only cash, or only cheques) or Customer, or search by payment number, reference or bank.
- If you keep part of the cash back, for example for petty cash, tick Take cash back, enter the amount and the account it goes to under Cash Back To.
- Enter the deposit slip number in Note.
- Check the Summary: payments selected, total, cash back and Net Deposited. It should match your slip. Save.
The selected payments leave Undeposited Funds and the net amount goes into the bank account. On your bank statement, it shows as one line, which makes the reconciliation easy.
A posted deposit can be cancelled: its payments go back to Undeposited Funds.
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