This video will walk through how to manage Bank Deposits
Video Transcript:
In this video, we'll walk through how to manage bank deposits, including how to view, create, import, and export deposits.
Creating deposits allows you to group individual payments into a single batch that matches the actual deposit that appears on your bank statement.
This ensures your records stay accurate and makes reconciliation quick and straightforward.
There are two areas in the system where you can create bank deposits.
Let's start with the first.
From the left sidebar navigation, click Banking.
This page gives you a clear view of every deposit your firm has recorded, along with tools to add new deposits, review details, and export information when needed.
On this page, you can view key details for each deposit, including the deposit number, date, bank account, total amount, associated payments, and timestamps for when the deposit was created and last updated.
Depending on your permissions, you may also see actions available for each deposit, such as adding or viewing attachments, editing the deposit, or deleting it.
Selecting the All Filters button lets you customize the list by narrowing it down using filters for bank account date, payment number, dollar amount range, or creation and update dates.
And if you're looking for a specific deposit, the search bar allows you to search by deposit number.
To add a new deposit, click Add Deposit.
Start by selecting the bank account where the deposit should be posted, then choose the deposit date.
Next, select the payments that will make up this deposit.
You can multi select payments.
Typically these are payments received on the same day as you select them.
The total deposit amount will automatically populate based on your choices.
Once you've reviewed the account date and payment selections, click Save.
The system creates your batch deposit.
Here you can see it listed as deposit #20.
Alternatively, you can create a deposit directly from the Payments page.
From the left sidebar, click Payments, then select the payments you want to include in a deposit.
Click the Bulk Actions button and choose Deposit Payments.
This will open the same deposit form with your selected payments already populated for you.
Simply select the bank account, choose the deposit date and click Save.
The system will create your batch deposit, which you can then view in the banking section alongside your other deposits.
Within the banking section you'll also find options to import deposits from a CSV file or export your deposit list to CSV, PDF or Excel, making it easy to share or archive your records.