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This document provides information regarding deposit entry. The Deposits section of Accounts Receivable can be used for receipts not specifically attached to Customers, such as interest earned, or to batch Customer deposits together as received to provide an easy method of tying the batch of receipts to the deposit amount that will show up in the relevant bank statement.

Quick Steps

  1. Navigate to Financials > Accounts Receivable > Deposits.
  2. To enter a new deposit click +Deposit on the upper right of the screen.
  3. Deposits require a Legal Entity and Bank Account, as well as a Document Date, Post Date, and Fiscal Period. Additional details including the amount, deposit/reference # and a description of the deposit may be optionally recorded.

  4. The details of the deposit are entered once the document is saved. Deposit options include:
    1. Deposited Documents – These would include previously recorded Customer Payments that were entered against an Undeposited Funds bank account within the specified Legal Entity. This method provides a mechanism for recording customer payments against the appropriate outstanding AR document while batching them together into a single bank deposit. See Customer Payments for details.

    2. Details - Deposit amounts not related to a customer payment.  These may include items such as tax refunds, rent income, employee reimbursements, etc.

  5. Once the deposit is complete it may be saved, submitted and then posted.

Other Information

Deposits that are in the SUBMITTED status indicate to the person who has the posting role that the document has been completed and is ready for review and posting. Deposits must be posted in order to effect the financial statements. The role of the user entering or reviewing the deposit will determine their submit and posting options.  

  1. AR User: Users with this role can enter and submit deposits. They will NOT see the option to post within the deposit entry document itself or on the deposit search screen. Their options are limited to Save, Save/Next or Submit/Next
  2. AR Poster: Users with this role can enter, submit, and post deposits. They can optionally post from within the deposit document or from the deposit list.

The optimal workflow and internal controls for your organization should be considered when assigning these roles.  

Deposits can be selected by entering various criteria on the Search tab. These include BANK ACCOUNT, DEPOSIT/REFERENCE #, and DEPOSIT AMOUNT EQUALS. Once the selection criteria has been entered, all deposits meeting that criteria will be displayed on the List tab. Deposits can be viewed, edited, posted and voided from this screen. 

Additional Items

Help Docs - Deposits

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