Use a Bank Deposit transaction to record deposit you make at your bank. This includes handling multiple customer payments, accounting for bank fees and getting cash back. Before creating a bank deposit transaction, make sure that you have recorded the customer’s payment by ‘Payment Received‘ and deposited it to Undeposited Funds.
Bank deposit is a posting transaction.
Create a New Bank Deposit
- Go to Bank / Credit Card on the left sidebar, and select Bank Deposits
- Click Add New button.
- Fill in the following fields
- Date: The default date is today.
- Deposited To: Select the bank account where you are depositing the money.
- Currency: This is the bank account currency. It is auto filled when you select the bank account.
- Undeposited tab.
- This tab lists all customer payments which deposited to Undeposited Funds account. Payments transactions include
- Payment Received
- Receipt
- Invoice, when a customer pays deposit or a portion of the total amount upfront.
- Vendor Credit, when receiving vendor’s refund.
- Select payments that are included in this deposit.
- This tab lists all customer payments which deposited to Undeposited Funds account. Payments transactions include
- Funds tab.
- This tab is used to record funds which have not been recorded or need to account for bank fee.
- Click or tap Add Fund button.
- In the Add Fund dialog, fill in the followings
- Received From: Enter source of funds or bank charging a fee.
- Account: Select the income account or expense account for fee.
- Description: Explain what the money is for.
- Amount: Enter positive amount. For bank fee, input a negative amount.
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- Cash back: Enter positive amount if any.
- Cash back Account: Specify which account you are putting the cash back into.
- Click Save.
