Accounting: Daily Deposits

Introduction: The “Daily Deposits” interface allows the accounting department to track all money coming into the organization and transfer the money to their bank account. Payments for parts & service, deposits, warranty checks, etc. all automatically transfer to the undeposited fund’s 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.

This page contains information on:

  1. (03) Daily Deposits
  2. Selecting the Checking Account to Deposit into
  3. Selecting Which Funds to Deposit
  4. Identifying the Deposit
  5. Depositing the Funds
  6. Manually Clear Items

(03) Daily Deposits

To begin with your deposit for the day, click on (03) Daily Deposits from the Accounting module menu tree.

The Bank Deposit window will appear.

Here you will see all your undeposited funds listed on the left-hand side. These are all the transactions in your system that have hit a clearing account, regardless of date. The 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 into

In the upper left section of the Bank Deposit window, you can pick the checking account, posting date and reference number for the specified transaction.

 

 

Selecting Which Funds to Deposit

After entering the information from step 2, click on the transaction(s) you want to deposit, then click on the add arrow (for multiple transactions at one-time click add all arrows) button in the middle of the screen.  This will move the funds from the “UnDeposited Funds” section to the “Today’s Deposit”.

*To select multiple transactions of undeposited funds, hold the Ctrl key down while clicking on the transactions.

**If you mistakenly select a transaction and move it to the “Today’s Deposit” and need to move it back, simply click on the subtract arrow for a single transaction.  For multiple, click on the subtract all arrows.

***If you need to stop at any point, you can use the save button 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 that it should be included in the day’s deposit.

Depositing Funds

After you have verified that all the transactions in Today’s Deposit (the balance at the bottom right of the Today’s Deposit window), click the Deposit button on 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. These items that have now been deposited will now show up in your Bank.

 

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.