Deposits

What this does

A deposit slip groups payments sitting in Undeposited Funds into one bank credit: the cash and checks you took to the bank Friday, or a card processor's daily batch. Posting it moves the money from 1499 to the bank account in one balanced entry, so the bank register shows one line that matches the statement.

Before you start

accounting.manage for creating and posting. The bank account must exist in the chart. Know the exact credit amount from the bank; the slip has to match it.

Steps

1. Money In → Deposits → New Deposit. Pick the Bank account ("Pick the bank account this money was deposited into"), the Date, and an optional Memo / Reference.
2. Add lines. Each line has a Type: AR payment (invoice) for a recorded customer payment (search "Open invoices…" or pick from the undeposited list), CC settlement for a card batch, or a non-customer source: Direct revenue, Owner capital, Interest, Other income, Transfer in (asset). Non-AR lines need an account.
3. Enter a Fee if the processor took one; Gross and Net update.
4. Save creates the slip as pending, with no posting yet. Review it, then Post. The slip's net must equal the bank credit to the cent or posting is refused.

Void a pending slip that's wrong. A posted deposit can't be voided from here; file a reversing journal entry instead.

What happens in the books

Dr Bank (net), Dr Payment Processing Fees 6600 (fee), Cr Undeposited Funds for each AR-payment line, Cr the named account for each non-AR line. An AR line whose payment was already recorded drains 1499; one whose invoice is still open credits AR directly and creates the payment, so a deposit can be the first record of a payment when the money went straight to the bank.

Common problems

The candidate list doesn't show a payment I know we took. It was already deposited, deleted, or recorded with the holding switch off (so it went to the bank directly). The list is exact: money that debited 1499 and hasn't been drained.

"That payment is no longer available." Someone else deposited it while your slip was open. Reload.

Net doesn't match the bank. A fee, a refund, or a payment from a different batch. Use a split; see Deposit splits.