Making Bank Deposits

Topic: Banking > Working with Bank Accounts

Overview

Bank Deposit Documents represent a bank deposit slip you would use to deposit cheques and cash at your bank. In particular when you receive payment from a Customer by cheque or cash you would usually make the deposit to the bank at a later point in time. Until this point the money is located in a Non-deposited funds account.

Indeed for receiving payments from Customers the default account for the payment is Non-deposited funds. For payment that go directly into the bank, such as an electronic transfer, you have to specify the appropriate bank account.

So, in simple terms the Bank Deposit Document allows you to deposit cash currently held in your Non-deposited Funds account.

Prerequisites

Using salesorder.com the basics

Working with Bank Accounts

Entering and Editing

Creating a new Bank Deposit

From the Explorer click Banking->Bank Accounts this displays the current list of Bank Accounts. Click 'View' against the account for which you want to make the deposit. This will display the required account. From the account's Action Bar drop-down click 'Make Deposit'. This displays the new Bank Deposit Document (below).

Making a Bank Deposit

The steps in the diagram show how a deposit is made.

1.	Clicking 'Make Deposit' on the associated account displays a new Deposit Document.

2.	Enter a unique Ref # for the transaction here. By default the value is [auto] meaning that this number will be generate automatically. See Working with Reference numbers (Ref #).

3.	The date you made the deposit goes here.

4.	If you are using multi-currency you may have payments in other currencies that you wish to deposit. Selecting the currency here will display the payments available for deposit in that currency.

5.	This is a memo for accounting purposes. In this case we put the actual pay slip number. See Working with A/C Memo(s).

6.	Select from the list of Non-deposited payments which ones you want to deposit. When you select a payment the Deposit Amount field is updated appropriately.

7.	When you have completed the details save the deposit by clicking 'Save'.

IMPORTANT: Once a Deposit has been saved it cannot be edited, but it can be deleted.

NOTE: If a Payment has been deposited then you cannot edit the Payment. If you try to edit the Payment, salesorder.com will display an error. When you click on the 'Deposit' link in the error you will be taken to the Deposit Document on which the Payment is recorded.

Related tasks and information

Working with Payments from Customers (Money In)

Working with Memos