How to record a Bank Deposit

How to record a bank deposit in Sage Accounting when transferring money from a cash account to a bank account.

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.

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.