5 To Be Deposited
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To Be Deposited
How does To be Deposited work?
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.
How to use the To Be Deposited tab
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, this can be deposited into the correct bank account from here.
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).
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: Utilities Preferences Accounts Select Auto Deposit Accounts Button Select Payment method /account and tick active radio button.
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.
In Preferences =>Payments 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.
Select the tick box in the deposited column for the payments you wish to deposit Select Save or Print Receipt to complete the deposit.
To view deposits made in ERP select the Deposited List Button within the Banking Screen
