When you receive payments that you want to deposit in a batch (such as credit card, cash and cheque payments), you need to post the payments to a temporary holding account until you create a bank deposit. This holding account is known as an Undeposited Funds account.
You can post a customer payment to the Undeposited Funds account by selecting the Group with Undeposited Funds option in the Receive Money window or Receive Payments window when recording a payment.
When you make bank deposit in a batch, funds are transferred from the Undeposited Funds account to the account of your choice as a single transaction.
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1
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Go to the Banking command centre and click Prepare Bank Deposit. The Prepare Bank Deposit window appears.
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2
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In the Deposit to Account field, enter the account into which the funds selected in the Prepare Bank Deposit window will be deposited.
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a
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b
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In the adjacent field that appears, type or select one or more payment types. (For credit cards, select one or more credit card types.) Only payments made using that method are listed.
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5
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6
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Select the receipts you want to include in the bank deposit by clicking in the Deposit column next to the transaction.
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If you want to select or deselect all receipts, click the icon at the top of the Deposit column.
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7
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d
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Type a description in the Memo field and complete other fields as necessary.
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e
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Click Record.
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If you need to record additional adjustments or fees, click Deposit Adjustment again.
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8
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Click Record to record the bank deposit.
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