Solution Properties
Solution ID:
210813151542927
Last Modified Date:
Thu May 09 14:22:56 UTC 2024
Taxonomy Path:
Case category//How do I...//banking/reconciliation
Author:
[email protected]
How to record a Bank Deposit
Description

When a customer pays by cash or cheque, record the transaction in your cash account during the sale. Then, record the bank deposit to transfer the money from the cash account to the appropriate bank account.

Sage Accounting automatically creates a cash account when you sign up. You can create extra cash accounts if needed.

Cause
Resolution

CAUTION: You can only deposit money into your bank account from Cash accounts 

  1. Go to Banking.
  2. Select your required Cash or Cash on Hand account.
  3. On the New Entry menu, click Bank Deposit.
  4. Enter the following required information:
Paying in Reference  Enter a reference for the deposit
Bank Account  Choose the bank account you want to deposit the money into
Date Enter the date of the deposit
Cash Enter the amount of cash you want to deposit
Cheques Click Select, select the items you want to deposit, and then click Save

 

Cash Remaining displays the remaining balance in the selected account.

Click Save to complete the deposit. Sage Accounting updates the bank balances accordingly.

If you delete the bank deposit from either the bank or cash account, Sage Accounting adjusts both account balances.

Steps to duplicate
Related Solutions