16 To Be Deposited
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To Be Deposited
To Be Deposited provides a list of all amounts that have been posted to the Un-deposited Funds account and are yet to be deposited to the Company's bank account/s. The user has the ability to select manually, or auto select payments received to record them as deposits. ERP depositing allows the user to Group Cash Sale as one cash deposit. The deposit slip is printable and can be used to submit to your bank as a record of all items included in each deposit. Once the deposits have been processed, all data flows through to the selected bank account to be reconciled.
Do you understand why you would use this function?
If you don't process items in the To Be Deposited list you cannot reconcile your bank account.
Select the Banking Tab/To Be Deposited button. The Deposit screen will load displaying all the un-deposited funds entered into ERP. These will include Cash or Cheque transactions. If you notice that a Credit Card or Direct Deposit transaction has loaded into this screen, you will have to refer back to the payment and change the account that the payment was posted to, i.e. the actual bank account that the funds were deposited into.
Select the Bank Account you are depositing the funds into from the drop-down list. Refer Accounts for details on how to set-up Bank Accounts in ERP. The 'Deposited Total' will auto fill as you select the entries to deposit. If required you can enter the full amount you wish to deposit then select the entries to match. The 'Date' field will auto load with today's date. This can be manually altered to ensure the correct deposit date is entered.
The 'Department' field will auto load with the department of the logged in user. This can be manually altered if required. The user must have access to change departments to perform this function. 'Deposit No' is a default field. ERP will auto load the next number in succession.
You have the ability to sort by any column you wish to by left clicking on the heading, e.g. Payment Method. The hand will indicate the column that has been sorted and the direction of the sort i.e. up or down.
To select the entries you wish to deposit into the selected Bank Account, simply tick the items in the 'Deposited' column. If you wish to select all entries, click on the 'Select All' button at the bottom of screen. (There is also a 'Deselect All' button if required). The 'Deposited Total' will auto fill as you select each entry. The 'Total Un-deposited' and 'Total Deposited' will also auto-fill down the bottom right of screen. Enter any notes re the deposit into the notes field.
When you have selected all the entries for this deposit, select SAVE or select PRINT RECEIPT (this will automatically save the entry).
You have the ability to sort by any column you wish to by left clicking on the heading, e.g. Payment Method. The hand will indicate the column that has been sorted and the direction of the sort i.e. up or down.
To select the entries you wish to deposit into the selected Bank Account, simply tick the items in the 'Deposited' column. If you wish to select all entries, click on the 'Select All' button at the bottom of screen. (There is also a 'Deselect All' button if required). The 'Deposited Total' will auto fill as you select each entry. The 'Total Un-deposited' and 'Total Deposited' will also auto-fill down the bottom right of screen. Enter any notes re the deposit into the notes field.
When you have selected all the entries for this deposit, select SAVE or select PRINT RECEIPT (this will automatically save the entry).
Selecting PRINT RECEIPT will print out the following default ERP receipt. Refer to templates to re-design receipt if required.
Select the 'Auto Deposit' button to automatically create deposits for Auto Deposit Accounts. Generally speaking this function will only be utilised if the payment has been posted to the wrong account due to the Auto Deposit Account not being pre-set. Select 'Yes' to the prompted message if you wish to proceed to auto deposit to Auto Deposit Accounts.
Selecting 'Yes' to the above message will prompt the automatic selection of the payments allocated to Auto Deposit Accounts, and create a deposit then auto save the transaction.
NB Auto Deposit Accounts must first be created, refer Preferences/Accounts as per screenshot below.
If the Auto Deposit Account/s have been created prior to processing the payment/s then the payment/s will be automatically posted to the Auto Deposit account. Therefore bypassing the 'To Be Deposited' process unless the Auto Deposit Account is 'Undeposited Funds', therefore, if you wish to manually deposit your Cash and Cheque payments you should set the Auto Deposit Account to 'Undeposited Funds' as per below.
Select 'Group Cash Sale Deposits' to bundle Cash Sales into one payment total to be deposited. Cash Sales being from a Cash payment via POS or a transaction processed through the 'Cash Sale' screen. NB: Customer Payments received and processed as Cash will not be grouped.
All Cash Sales are now grouped as one total deposit of cash.
Select the tick box in the deposit column for the payments you wish to deposit Select SAVE or PRINT RECEIPT to complete the deposit.
