Configure Depository Management

Subscription Depository Management
Regional availability United States
User type Business user with admin privileges
Permissions Application subscriptions: List, View, Configure
  1. Go to Depository Management > Setup > Configuration.
  2. Enter information and select options.

    Be sure to enter information in the following fields, which are required:

    • All fields in the Account settings section.
    • In the Interest and bank statement generation settings section, the Start date of first statement period.
  3. Select Save.
Most settings for Depository Management can be set only at the top level. If a setting can be set at the entity level, this is noted in the following sections.

Account settings

Use the fields in these sections to specify journals and offsetting GL accounts for depository transactions.

Some depository transactions are posted through other applications, so you do not configure journals or GL accounts for these transactions in Depository Management.

For transactions that are posted through Accounts Payable or Cash Management, the posting process uses all related settings from those applications. This includes settings for thresholds, and for reversing and deleting transactions.

Journals and GL accounts field descriptions
Section Description

Journals

Specify the journals to be used for automatically recording the following depository transactions:

  • Transfers
  • Adjustments
  • Close savings account, with Transfer balance to another account selected

GL accounts

Specify the General Ledger accounts to be used for posting depository transactions directly from Depository Management:

  • Deposits payable
  • Interest expense
For all depository transactions, the summary frequency to GL is one per transaction. Every transaction that you post from Depository Management has a corresponding transaction in the general ledger.

Enable functionality

Enable functionality field descriptions
Field Description

Enable maturity date

Select this option to enable maturity dates to be entered for depository accounts (a Maturity date field appears when creating or editing a depository account).

Maturity date required

If Enable maturity date is selected, you can select this option to require that a maturity date be entered for each depository account.

Field label

You can customize the way you use the Maturity date field that is enabled if you select Enable maturity date. To enter a different type of date in this field, enter the label that you want to appear instead of Maturity date.

Banking

Banking field descriptions
Field Description

Default bank account

You can enter a default bank account for depository accounts, or you can leave this field blank to use the default bank account specified in Cash Management.

The default bank account can be set at either the top level or the entity level. At the top level, you can enter any top level bank account. At the entity level, you can enter a bank account only if it is assigned to the entity.

Interest and bank statement generation settings

Interest and bank statement generation settings field descriptions
Field Description

Start date of first statement period

Enter the date of the first day of the month for which you want to generate interest and statements. This date can be changed any time before you generate your first interest and statement period.

This date can be set at the top level or the entity level.

Dimensions

This section displays the list of standard dimensions that are enabled in your General Ledger.

User-defined dimensions (dimensions that you create for your unique business needs) do not appear in this list because they’re automatically propagated across your applications at time of creation.

Select the standard dimensions that you want to use in this application for tracking and reporting.

  • Projects dimension:

    You can enable a simple Projects dimension without subscribing to the Projects application. First, enable the Projects dimension in General Ledger. Then, enable the Projects dimension in Accounts Receivable and use Accounts Receivable permissions to control access to it.

    A Projects dimension limits functionality mainly to reporting.

    A Projects subscription expands your ability to do the following:

    • Add tasks to your projects
    • View a project summary
    • Generate project invoices
    • And more

    Contact your Sage Intacct account manager to enable your Projects subscription.

  • Task dimension: The Task dimension is dependent on the Project dimension and a subscription to Projects. After it’s enabled, you cannot deactivate the Task dimension.
  • Asset dimension: The Asset dimension is only available with a subscription to Fixed Assets Management.

Sage Intacct propagates dimensions across your application pages where you can select dimension values to apply to specific transactions.

For example, if you create a sales order, use the customer dimension to tag the transaction so that you can track and report on revenue per customer. Or, if you create a purchase order, use the supplier dimension to tag the transaction so that you can track and report on costs per supplier.

Learn more about dimensions