Create a deposit

When you deposit multiple payments, it's typical to group the payments and submit them to your bank with one deposit slip. After you deposit payments and receive your bank reconciliation statement, you see one entry with the total deposit amount.

When you record a deposit, the payment must already be received against your undeposited funds account. Deposits automatically post to the General Ledger and appropriate subledgers. Deposits can't be edited after they are posted.

1. Go to Cash Management > All and select Add (circle) next to Deposits.

2. Select the Bank account where you made the deposit, or where you want to make the deposit.

   If you are a multi-currency company, the transaction currency for that bank account appears after you select it.

3. Enter criteria to filter for the exact deposits that you are interested in including, such as the Undeposited funds date, Customer, or Transaction amount.

4. Select Continue to select payments for deposit.

   The payments that appear are payments received into your undeposited funds account.

5. Enter the Date to post the deposit to the General Ledger.

   The default is today's date, which you can change as needed.

6. For the ID, enter the information that correlates this record in your company with the actual deposit slip from the bank.

   If you already made the deposit, enter the transaction number on your bank deposit slip.

   If you have not yet made the deposit, enter a note such as "Deposit slip MM/DD/YY,".

7. Add any optional Description.

8. To permanently and safely store a digital version of a supporting document, in the dropdown next to Attachment, select an attachment, or select Add, then upload your attachment An attachment is a bundle of one or more supporting documents, such as spreadsheets, scanned images, or word processor documents.. Learn more about who can add attachments.

   You can drag and drop your files to add an attachment. To attach a document to multiple journal entries, see Bulk processing.

9. Select the payments to include in the deposit.

   • From the list of payments, find the cheques to deposit. The details area lists all the payments that you received, or all payments filtered by the selected payment method. Each payment is a one-line item.
   • For each payment method, select the appropriate checkbox under Deposit.
   Having trouble finding a single payment that you made to multiple customers?

   If the payment was received at the top level, you need to deposit it at the top level, even when all paid line items are coded to a single entity. Multiple customer payments received at the entity level can be deposited at either the top level or the entity level.

10. Verify the deposit Total of the payments chosen for deposit at the bottom-left portion of the table.

11. Select Save.

1. Go to Cash Management > All and select Add (circle) next to Deposits.

2. Select the Bank account where you made the deposit, or where you want to make the deposit.

   If you are a multi-currency company, the transaction currency for that bank account appears after you select it.

3. Enter criteria to filter for the exact deposits that you are interested in including, such as the Undeposited funds date, Customer, or Transaction amount.

4. Select Continue to select payments for deposit.

   The payments that appear are payments received into your undeposited funds account.

5. Enter the Date to post the deposit to the General Ledger.

   The default is today's date, which you can change as needed.

6. For the ID, enter the information that correlates this record in your company with the actual deposit slip from the bank 

   If you already made the deposit, enter the transaction number on your bank deposit slip.

   If you have not yet made the deposit, enter a note such as "Deposit slip MM/DD/YY,".

7. Add any optional Description.

8. To permanently and safely store a digital version of a supporting document, in the dropdown next to Attachment, select an attachment, or select Add, then upload your attachment An attachment is a bundle of one or more supporting documents, such as spreadsheets, scanned images, or word processor documents.. Learn more about who can add attachments.

   You can drag and drop your files to add an attachment. To attach a document to multiple journal entries, see Bulk processing.

9. Select the payments to include in the deposit.

   • From the list of payments, find the cheques to deposit. The details area lists all the payments that you received, or all payments filtered by the selected payment method. Each payment is a one-line item.
   • For each payment method, select the appropriate checkbox under Deposit.
   Having trouble finding a single payment that you made to multiple customers?

   If the payment was received at the top level, you need to deposit it at the top level, even when all paid line items are coded to a single entity. Multiple customer payments received at the entity level can be deposited at either the top level or the entity level.

10. Verify the deposit Total of the payments chosen for deposit at the bottom-left portion of the table.

11. Select Save.

Next steps:

Sage Intacct does three things:

• Removes the payments that you selected from the list.

  You can't select them to include in other deposit slips. You can no longer void or reverse these payments.

• Posts the amount of the deposit to the General Ledger.

  The deposit appears on the Deposits list and the Bank register report.

• Debits the bank account and credits the undeposited funds account that previously held this transaction.