Deposits

You can record when cash or check payments are deposited into your bank account.  This will help you when reconciling actual bank balances with your A/R system, because you'll be able to ignore un-deposited funds.  It also helps properly track account balances, because undeposited money is reflected in your General Undeposited Funds (GUF) account, not the destination account(s) indicated on the original invoice.  Marking a payment as deposited in Members360° actually moves the money from your GUF account into the destination accounts specified on the invoice.  (See Accounting configuration for information on setting your GUF account.)

Recording deposited payments individually

When you create a new cash or check receipt, you can check off the Deposited checkbox and record a deposit date.  You should do this if you're recording a receipt for money that you've already deposited.

Recording a deposit for several existing payments

You can also select a group of un-deposited check/cash payments and mark them all as deposited at once.  You should do this if you go and make an actual deposit at the bank and want to record which payments you deposited.  To record a deposit:

  1. Navigate to Accounting > Transactions.

  2. In the Related Tasks on the left, click deposit receipts.

  3. Click the Go link next to the Deposit Receipts dropdown in the middle of the page.  This will take you to a page like the following.

  4. Enter the date of the deposit in the field at the top.  By default, this will auto-fill with today's date.

  5. Check off all the payments that were deposited.  You may need to page through your receipts to find all the ones you are depositing.

  6. When you've clicked all the relevant payments, click the button at the bottom, and confirm your desire to create the deposit item.

That's it!  Your deposit item will now appear, and all the related receipts will be listed below.

Searching for and managing deposits

You can search for any deposits you have created using the Accounts Receivable page at Accounts Receivable > Transactions.  Choose Deposits as the Transaction Type, and include any other search criteria you wish.  When you find the correct deposit, click the transaction number to view the deposit details.