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Making Deposits

A deposit moves customer receipts from the account that holds them (usually Undeposited Funds) into a bank account. Make one deposit for each trip to the bank, with the same checks the bank deposit slip lists, so the deposit in your books shows the same total as the deposit line on the bank statement. That makes the bank feed and reconciliation simple: one bank line, one deposit.

You do not need a deposit for money that was received straight into the bank account. A deposit is only for receipts that were recorded in a holding account.

Before You Begin

  • The customer payments are recorded with Receive Payment, with a holding account such as 1050 Undeposited Funds as the Funds Account.
  • The bank account exists with the Cash role. See Bank and Cash Accounts.
  • You need Edit access to Banking. Company Admins and Accountants have it; Viewers can open deposits but not make them; Project Managers have no Banking access. See Roles and Permissions.

Navigation

Banking → Deposits → Make Deposit, or Create → Make Deposit. The Home dashboard also offers it under Needs Attention (for example Deposit 2 Receipts → Review), and an undeposited receipt's page has a Deposit button.

The Deposits List

Banking → Deposits lists every deposit, newest first.

The Deposits list with the Make Deposit button, the search and filter bar, and DEP-2026-000029 at the top
Figure 4-6 The Deposits list.
  1. Make Deposit starts a new deposit.
  2. Search (a deposit number, an account code or name, a memo or a receipt number), Status (Posted, Reversed or All; Posted is shown first), From and To dates, then Filter.
  3. Each deposit: Number, Date, From, Deposited To, the number of Receipts, Amount and Status. Click the number to open it.

Step by Step

The Make Deposit form with 1050 Undeposited Funds loaded, both undeposited receipts ticked and a total of 64,660.00
Figure 4-7 A deposit of two customer checks, ready to save.
  1. Receipt Date Limit: receipts dated on or before this date are listed.
  2. From Account: the holding account. Only Cash accounts that hold undeposited receipts at the date limit are offered.
  3. To Account: the bank account that receives the deposit.
  4. Date: the deposit date. It starts as the receipt date limit.
  5. Tick each receipt that is in this bank deposit.
  6. Amount: the total of the ticked receipts, updated as you tick.
  7. Make Deposit posts the deposit.
  1. Open Banking → Deposits and click Make Deposit.
  2. Set Receipt Date Limit to the day you are depositing. It starts as today.
  3. In From Account, choose the holding account, for example 1050 - Undeposited Funds. The page reloads and lists the account's undeposited receipts under Undeposited Receipts. If you change the date limit afterward, click Load Receipts to list the receipts again.
  4. In To Account, choose the bank account, for example 1010 - Operating Checking.
  5. Check Date. Use the date the bank credits the deposit. It cannot be earlier than any receipt in the deposit.
  6. Optionally type a Memo, such as the deposit slip number.
  7. Tick the receipts that are on the deposit slip. Amount in the Summary adds them up; compare it with the deposit slip.
  8. Click Make Deposit. Structally posts the deposit and opens it.

If Undeposited Receipts shows No undeposited receipts at this date., either nothing is waiting in that account or the receipts are dated after the date limit.

Field Reference

Field Description Required Example
Receipt Date Limit Lists receipts dated on or before this date, and sets the starting deposit date. No (starts as today) 09/30/2026
From Account The holding account the receipts were received into. Only Cash accounts with undeposited receipts are listed. Yes 1050 - Undeposited Funds
To Account The bank account the money goes to. Any active Cash account other than the From Account. Yes 1010 - Operating Checking
Date The deposit date and the date of its journal entry. Must be on or after every selected receipt's date and after the Books Closed date. Yes 09/30/2026
Memo A note shown on the deposit, up to 240 characters. No Customer checks, week of September 28
Undeposited Receipts The receipts in this deposit: Number, Customer, Date and Amount. Tick at least one. Yes RCPT-2026-000066

Worked Example: Depositing the Last Two September Checks

At the end of September 2026, Cedar Ridge Contracting holds two customer checks in 1050 Undeposited Funds, the ones shown in the form above:

Receipt Customer Received Amount
RCPT-2026-000066 Summit Tech Park 2026-09-26 14,040.00
RCPT-2026-000067 Alder Family Residence 2026-09-27 50,620.00
Deposit total 64,660.00

Making this deposit on September 30, 2026 would post this entry:

Account Debit Credit
1010 Operating Checking 64,660.00
1050 Undeposited Funds 64,660.00

Afterward, 1050 Undeposited Funds holds nothing and the two receipts no longer appear under Undeposited Receipts. The sample company has not made this deposit, so the figures above are the form before saving; the posted deposit below shows the result of the same steps.

What Happens After You Make a Deposit

  • The deposit is numbered automatically as DEP-year-sequence (for example DEP-2026-000029) and gets the status Posted.
  • Its journal entry is posted and locked: the bank account is debited and the holding account credited with the deposit total.
  • Each selected receipt is marked deposited and leaves the Undeposited Receipts list. Its page no longer offers the Deposit button.
  • A posted deposit cannot be edited. To correct one, reverse it and make it again.
The posted deposit DEP-2026-000029 from 1050 Undeposited Funds to 1010 Operating Checking for 102,713.50, with its two receipts
Figure 4-8 A posted deposit of two customer checks.
  1. From: the holding account the receipts left.
  2. Deposited To: the bank account.
  3. Amount: the deposit total, 102,713.50.
  4. Deposit Items: the receipts in the deposit. Click a receipt number to open the receipt.
  5. Reverse Deposit… undoes the deposit (see below).

The Posting Entry

Open Posting Entry near the bottom of the deposit to see the journal entry. DEP-2026-000029 deposited RCPT-2026-000064 (47,115.00) and RCPT-2026-000065 (55,598.50) on September 28, 2026: 47,115.00 + 55,598.50 = 102,713.50.

The posting entry of DEP-2026-000029: debit 1010 102,713.50, credit 1050 102,713.50
Figure 4-9 The posting entry of DEP-2026-000029.

Account Debit Credit
1010 Operating Checking 102,713.50
1050 Undeposited Funds 102,713.50

The receipts themselves were posted earlier, when they were received (debit 1050 Undeposited Funds, credit 1100 Accounts Receivable). The deposit only moves the money between your two Cash accounts; it does not touch customers' balances.

When the bank statement is imported, the deposit's single line on the statement matches this deposit in the bank feed. The History section at the bottom of the page lists everything recorded against the deposit, with when and who.

Reversing a Deposit

Reverse a deposit that was recorded by mistake, for example with the wrong receipts or into the wrong bank account.

  1. Open the deposit and click Reverse Deposit….
  2. In the panel, set Date (it starts as today) and optionally a Memo.
  3. Click Reverse Deposit.
The Reverse DEP-2026-000029 panel with Date, Memo and the Reverse Deposit button
Figure 4-10 The panel for reversing a deposit.
  1. Date: the date of the reversal entry. It cannot be earlier than the deposit date, and must be after the Books Closed date.
  2. Memo: why the deposit is reversed.
  3. Reverse Deposit posts the reversal. Cancel closes the panel.

Structally posts a reversal entry that mirrors the deposit (debit the holding account, credit the bank account) on the date you entered. The deposit's status becomes Reversed, a Reversal Entry section appears on its page, and its receipts become undeposited again from that date, ready for a new deposit.

Unmatch first

A deposit that is matched to a bank feed line cannot be reversed. Unmatch the line first (see Reviewing the Bank Feed); if the line is cleared in a completed reconciliation, the reconciliation must be reopened and the line uncleared before that.

Common Mistakes and Troubleshooting

Message or Symptom Why It Happens What to Do
From Account offers no account. No Cash account holds undeposited receipts at the Receipt Date Limit. Check the receipts' dates and the account they were received into; set a later date limit.
No undeposited receipts at this date. No receipts were loaded, or all are dated after the date limit. Choose the From Account, or set a later Receipt Date Limit and click Load Receipts.
At least one receipt is required No receipt was ticked. Tick the receipts in the deposit.
Deposit accounts must differ To Account is the same as From Account. Choose the bank account in To Account.
Deposits move funds between bank accounts One of the accounts is inactive or is not a Cash account. Choose active Cash accounts.
Deposit date is before receipt date A ticked receipt is dated after the deposit Date. Use a later deposit date, or leave that receipt for the next deposit.
Receipt is already deposited Another deposit already includes the receipt. Open the receipt to see its deposit; reverse that deposit first if it is wrong.
Receipt is reversed The receipt was reversed after the list was loaded. Reload the page and choose other receipts.
Accounting date must be after the company closing date. The deposit date is in a closed period. Use a date after the Books Closed date.
Entry is matched to a bank line; unmatch it first You tried to reverse a deposit matched in the bank feed. Unmatch the bank line, then reverse.
Deposit is already reversed The deposit was reversed before. Nothing to do; make a new deposit if needed.
Reversal date cannot be earlier than the journal entry date. The reversal date is before the deposit date. Use the deposit date or later.