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Deposits

In the Deposits form you can make a deposit into one of your bank accounts.  Normally you would use the Deposits form to deposit funds from an undeposited funds or cash on hand account.  You can also use the Deposits form to transfer funds from one bank account to another.

 

When you create a Receive Payment for a invoice that a customer owes you money on, you have a choice of the deposit account you want to enter it into.  There are normally two ways to deposit a Receivable.
 

1.Deposit the money directly into one of your bank accounts, which would bypass the need to use the Deposits form.  This is the faster way to do this but not the most accurate way.

2.Enter the deposit into an undeposited funds or cash on hand account, in other words this account cannot be a bank account it must be an account ID that was created in the Undeposited Funds group found in the New Account Wizard.  Then later when you actually go to the bank you can make one large deposit for all the funds collected.  This is when you would want to use the Deposits form.  You add a new deposit and select the bank you want to deposit to and in the Line Item Detail you select the different accounts you used to hold the funds in like the undeposited funds account.

You could of course use the General Journal to enter any deposit transactions.  Many people find the General Journal to be hard to understand so this form was created to make it easier to use.  It also takes it a step further by providing you with a detailed register of the entered transactions in the Bank Account List form.  This provides you with a much easier and more graphical way of viewing the history of your account.

 

This form can be used to add or edit records in the Deposits form.  To add new Deposits, simply click the New button at the bottom of this form.  If you need to edit existing Deposits, just select the record you want to edit and make any necessary changes to the fields for that record.  If the record is posted it will be necessary to unpost it before editing.  For complete details on all the field descriptions for this form and a step by step guide on how to enter new Deposits, see Adding Deposits.

 

The record navigation buttons at the bottom of the form are used to move from one record to another.  It also displays how many records are in the Deposits form and what record you are currently on.  Clicking on one of the four buttons will navigate you through your existing data.  You may also use the Find  button to find a specific record.

 

There are several helpful options that can be set in the Company Preferences forms to help make data entry easier and faster.  One great feature in the Company Preferences form is to have the text fields displayed a certain way when you enter data so that it is easier to read and more consistent throughout the program.

 

Toolbar Buttons

Toolbar Buttons perform an action on the current record like adding, deleting or saving.

Bullet PointThe New button will clear the form to allow a new deposit to be added.

Bullet PointThe Save button will save the selected deposit.

Bullet PointThe Find button will enable you to Find deposits.

Bullet PointThe Delete button will delete the selected deposit.

Bullet PointThe Undo button will cancel out the last change/s done to the record reverting it to its older state.

Bullet PointThe Print  button will print the deposit ticket for the selected deposit.

Bullet PointThe Post or Unpost button will post or unpost the deposit and update the general ledger.

Bullet PointThe Info button will open the Bank Account Information form and display the selected Bank Account information.

Bullet PointThe Recap button will open the Recap form displaying a preview of what will be added to the general ledger when you click the Post button.

The Undeposited button will open the Undeposited Payments form.

The Close button will close the form. You can also press Ctrl+F4 or click the X button at the upper right corner of the form.

 

Press F1 or click F1-Help button at the bottom left corner of the form for help on what this form is all about.


Related Topics

Adding Deposits

Deleting Deposits

Posting Deposits

Unposting Deposits