Creating Bank Deposits
Creating a bank deposit involves entering essential details, such as the bank details, the deposit date, and the payments you want to deposit to the bank account. There's also the option to add an entity, store, and payment method to the bank deposit lines.
Add Payments
On opening the module, the "Undeposited Payments" screen will be populated. This contains all the payments that have been typically received in cash or by cheque and have yet to be deposited in a bank account.
Undeposited Payments Search Fields
The Undeposited Payments screen offers various search field to enable you to navigate and add the payments to the bank deposits efficiently and with ease.
Amount: This field allows users to search for undeposited payments based on the specified payment amount.
Ref Number: This field enables users to search for undeposited payments using a unique identifier or reference number associated with each payment transaction.
Ref Number 2: Similar to the "Ref Number" field, this field provides an additional search option based on a secondary reference number or identifier linked to the customer deposit transaction.
Memo: This field allows users to search for undeposited payments based on any accompanying notes or memos provided during the payment transaction, providing a way to filter payments based on specific comments or descriptions.
Entity: This field allows you to search for undeposited payments associated with a particular entity or customer. It allows users to narrow down search results to payments linked to a specific individual or organization.
Source: Use this field to search for the payment by the number associated with the payment, such as an invoice number or order number.
Advance Search: This provides you the option to perform a more nuanced search based on various combinations of criteria or parameters.
Undeposited Payments Fields
From Account
This field indicates the account from which the payment is originating.
Store
This field indicates the store associated with the payment, if any.
Entity
This field specifies the customer, vendor, or store related to the payment line.
Date
This field records the date on which the payment transaction occurred.
Payment Method
This field specifies the method used for the payment, such as cash, check, credit card, or electronic transfer.
Source#
This field represents the unique identifier of the source associated with the payment transaction, such as bill number, invoice number, etc.
Ref No
This field shows the unique identifier or reference associated with the payment transaction.
Ref No 2#
This field provides an additional reference number or identifier linked to the customer deposit transaction, offering supplementary information for tracking and reconciliation. This field reflects the data added to the "Reference Number 2" field in the customer deposit. Please note that if the "Ref 2" column in the Customer Deposit Centre is left blank, the system will populate the data from the "Ref No" column into the "Ref 2" column.
Currency
This field specifies the currency used for the payment transaction.
Amount
This field shows the payment amount.
Memo
This field displays any additional notes or memos related to the payment transaction.
Txn Type
This field indicate the transaction type to categorize the payment nature (e.g., bill, invoice, refund, vendor prepayment, customer deposit, etc.).
Select the payments that you want to deposit into a bank account and click on "Add Payments" to add these to the bank deposit.
Please note that you can click on the "Add Payments" later to further add the undeposited funds to the bank deposit.
Entering the Bank Details
After adding the undeposited payments, you will then add the bank details. In the header section of the module, you can put in the details of the bank account in which the amount is going to be deposited.
Bank Deposit Header Fields
Deposit To
This is the account where the funds are being deposited.
Date
The date of this deposit.
Memo
Enter any additional notes or information for the bank deposit, if needed.
Undeposited Funds Currency
The currency of the bank deposit. At least one of the accounts must be of this currency. The amounts entered into bank deposit lines are of this currency.
Exchange Rate
If this deposit deals with multiple currencies, an exchange rate can be entered here.
The Bank Deposit Lines section allows you to add payments to the bank deposit that have not been registered in the system. Additionally, it shows the details of the payment lines added to the deposit.
Bank Deposit Lines Fields
Header
Date
The date of the original transaction line that’s now being deposited.
Header
From Account
Select the account where funds are coming from.
Header
Entity
If necessary, select an associated entity for the deposit line.
Header
Payment Method
Select the payment method for the deposit line.
Header
Store(Optional)
If necessary, select an associated store for the deposit line.
Header
Cheque No/Reference No#
If necessary, enter a cheque or reference number for the deposit line.
Header
Memo
If necessary, enter any additional information or notes for the deposit line.
Header
Amount
Enter an amount for the deposit lines.
Header
Add
Click on this to add the deposit line to the bank deposit.
Footer
Cash Back Account
Select this account if there is a cash-back for this bank deposit.
Footer
Cash Back Memo
Enter a memo here if there is a cashback for this bank deposit.
Footer
Amount
Enter a cash-back amount here if there is one.
Payment Lines
Linked
If there is a tick mark for the line that means it was retrieved from the Undeposited Funds account, and so the payment already exists in the system.
Payment Lines
Date
This field shows the date of the deposit line.
Payment Lines
Store
This field shows the associated store of the deposit line.
Payment Lines
Entity
This field shows the associated store, customer, or vendor of the deposit line.
Payment Lines
From Account
This field shows the account where funds are coming from.
Payment Lines
Payment Method
This field shows the payment method of the deposit line.
Payment Lines
Cheque No/Reference No#
This is an editable field that shows any cheque or reference number associated the deposit line.
Payment Lines
Source#
This field shows the source of the payment link, such as the order number, invoice number, etc.
Payment Lines
Memo
This is an editable field that shows any memo details added for the deposit line.
Payment Lines
Account
This is an editable field that shows the amount of the deposit line.
After completing the bank details and adding the payment lines, click on the "Save" button to create a bank deposit.
The system will automatically assign a unique number to the sales order in the format of BD000001, where "BD" denotes bank deposit and 1 denotes a sequential series. This number will be displayed on the top left corner of the page. Once this number is generated, it becomes a permanent identifier and cannot be altered. After a bank deposit is created, the status of the deposit is "Deposited".
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