Banking

Preparing a bank deposit

If you use the undeposited funds account to group funds you receive, you can use the Prepare Bank Deposit window to create a batch deposit that will transfer funds as a single transaction from the undeposited funds account to the account of your choice. Undeposited funds dated up to and including the date you enter in the Prepare Bank Deposit window will be displayed.

Note:  Choose your undeposited funds account for customer credit card payments and credits

Use the Deposit to Account field to enter the account where the funds selected in the Prepare Bank Deposit window will be deposited.

Note:  Only receipts in your local currency can be grouped for deposit with undeposited funds

You may want to view and deposit only those transactions that were created using one method of payment. Choose the method from the Select Receipts by list.

Note:  If you sort transactions by payment method

Making changes to transactions before recording a bank deposit

Before you record the bank deposit, you can delete or reverse a transaction in the Prepare Bank Statement window. First click the zoom arrow next to the transaction to display it. Then choose Delete Deposit Transaction or Reverse Deposit Transaction from the Edit menu.

Whether you can reverse or delete a receipt before the bank deposit is recorded depends on whether your company file is changeable or unchangeable. (Choosing changeable or unchangeable transactions)

If you have a changeable company file, you can also edit transactions that were recorded using the Receive Money window before you record the bank deposit.

Entering adjustments to the undeposited funds account

Use the Bank and Deposit Adjustments window to enter and record adjustments to deposits. To find this window, click the Deposit Adjustment button in the Prepare Bank Deposit window.

You may use the this window, for example, to enter fees charged by your credit card processor -- fees that are deducted before the bank deposit is made. You may also use this window if, instead of depositing the total amount of a deposit, you keep part of the deposit as cash.

Enter an amount in the Adjustment for Excess Funds section, if you have a situation where the amount of the deposit made by the bank is higher than the total of the deposit amount in AccountEdge.

The adjustment transaction will appear in the Prepare Bank Deposit window.

Note:  If you sort transactions by payment method

The transaction will be automatically included in the bank deposit; that is, the Deposit column in the Prepare Bank Deposit window will be marked.

After you record the bank deposit

After recording a bank deposit of undeposited funds, you may want to review the receipts that you included on the bank deposit, or to reverse or delete the recorded bank deposit transaction. (Finding, reversing and deleting bank deposits of undeposited funds)

Note:  Entering transactions in the 13th period

Step by step

Related topics