The Deposit form is primarily used to deposit funds received from customer invoice payments. When you receive a customer payment and enter it on the Customer Payment form, the payment is entered into the Undeposited Funds account. By entering received payments into the Undeposited Funds account, you can maintain closer control over your deposit sequence by segregating received funds (undeposited) from the deposited amounts. Making a deposit moves the funds from the Undeposited Funds account to a Bank account.
You can also add additional lines to the Deposit form to account for:
- Received payments that do not result from customer invoices.
- Recording payments made to vendors that do not result from bills.
- Expenses incurred using cash held back from a deposit.
After you record a deposit, you cannot delete it. If you need to change a deposit, you cannot edit it. You must mark it void, and then create a new deposit. If you void a deposit, all customer payments on that deposit will reappear when you open a new Deposit form.
Note It is important to enter each payment from every customer on the Receive Payment form. Entering the payment ensures that your A/R Aging reports balance with the accounts receivable balance on the Balance Sheet report. For more information about the Balance Sheet report, see Company and Financial reports.
- On the Banking menu, click Make Deposit.
- On the Deposit form, click the arrow next to Deposit in to select the bank account that you are depositing the funds into
- Select the customer payments that you want to deposit.
Note To select all customer payments, select the check box next to Date. To remove all selections, clear the check box next to Date.
- Add additional line items to the form or enter information in the Cash-back fields.
For more information, see Deposit form: options and information.
- Do one or more of the following:
- On the File menu, click Print.
- Click OK to save the deposit.
On the toolbar, do one of the following:
- To close the deposit , click Save and Close.
- To save your changes and add a new deposit, click Save and New.