Deposits into Unbanked Funds

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Payments being received outside the normal sales/debtor payment cycle are dealt with using the Bank Deposits function (via Cheque Book). All sales/debtor payments move through unbanked funds, then banking sessions are used to move the money into the specified bank account. An example of this type would be commission income.

 

Previously, a deposit moved straight through to Bank Reconciliation, bypassing bank deposits, therefore not being part of the banking session report.

 

When making a deposit into Unbanked Funds, it will appear in the banking list (just like a debtor payment), and will be picked up by the banking report.

 

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Tip

Some letters in the field names within the header are underlined, eg. Status. Using Alt+ the underlined letter will jump to the field beside that heading.

 

Info

To lower COGS on stock where a dealer rebate or price protection is received, rather than record income, use negative expense orders linked to purchase orders. Then use Payment – Refund in the creditor record. The option to refund into unbanked funds is available to match the Deposit function.

 

Further information

Bank Deposits Screen

Bank Deposit Reports

Branch Banking Sessions

Grouping/Sorting in Banking Sessions

Add a Deposit

Create a Banking Session

Delete a Banking Session

Refund from Unbanked Funds

Manage Unidentified Deposits

Refund from Unbanked Funds