The Daily Deposits screen allows the accounting department to track all money coming into the organization and transfer the money to the applicable bank account. Payments for parts & service, deposits, warranty checks, etc. all automatically transfer to the undeposited funds accounts. The undeposited funds appear in the daily deposits screen, where the accounting staff member can drill down and select the funds they want to deposit. Daily Deposits is also designed to easily make adjustments in the distribution section for cash overage/shortage.
|(03) Daily Deposits Page||Identifying the Deposit|
|Select the Checking Account to Deposit to||Depositing the Funds|
|Select Which Funds to Deposit||Manually Clear Items|
(03) Daily Deposits
To begin with your deposit for the day:
- Open the Accounting module.
- Click on (03) Daily Deposits from the menu tree on the left side of the screen. The Bank Deposit window will appear. On the left side of this window, you will see all the undeposited funds. These are all the transactions in your system that have hit a clearing account, regardless of date.
Undeposited transactions will stay here in the clearing account until a depositing entry is made into a checking account of your choosing.
Selecting the Checking Account to Deposit to
In the upper left section of the Bank Deposit window, you can pick the checking account, posting date and reference number for the transaction.
Selecting Which Funds to Deposit
- Click over the transaction you want to deposit.
- Select the right-facing arrow button in the middle of the screen. This will move the highlighted transaction from the Undeposited Funds section to the Today’s Deposit section.
To move multiple transactions at one time, highlight each of the relevant transactions in the Undeposited Transactions section by holding your CTRL button on your keyboard and clicking once over each transaction you wish to move, then click the doubled right-facing arrow button to move the multiple transactions to the Today's Deposit section.
If you mistakenly select a transaction and move it to the “Today’s Deposit” and need to move it back, simply click on the left-facing arrow button to move a single transaction. For multiple, use the CTRL button to be able highlight several, then click on the doubled left-facing arrow button to move them back to the Undeposited Funds section.
If you need to stop at any point, you can use the Save button to save your progress and be able to return to this screen when you are ready
Identifying the Deposit
If you need to identify the transaction you are wishing to deposit, perhaps to locate where it came from or what transaction generated the posting to a clearing account, you can click the “V” button or use the “+” expansion icon to further research the transaction. Each of these tools will help ensure that you understand where the transaction is coming from and verify that it should be included in the day’s deposit.
Depositing the Funds
- After you have verified each of the transactions in Today’s Deposit (the balance at the bottom right of the Today’s Deposit window), click the Deposit button at the bottom of the screen to generate the transaction. This will create the necessary transactions to the checking account, which can also be reviewed in the bottom window pane of the screen. The items that have been deposited will now show up in your Bank Reconciliation screen.
Manually Clear Items
If there are items in your clearing account that have already cleared your bank (which would mean depositing them would be doubling the amount in your checking account), you can use the Manually Clear items button to navigate to a new screen to do just that.
This will open the Non-Cleared Transactions window. Click the Clear box next to the transaction line. Click Save when you are done to finalize manually clearing these items.