Deposits

Choose where cash and checks wait

1. Choose the unit at the top, if you can open more than one book.
2. Where the unit has none yet, the page shows the choice; otherwise open the line saying where cash and checks wait.
3. Choose Undeposited funds: an asset that is not a bank. Where the chart has none, press Add “Undeposited funds” to the chart.
4. Press Save.

Then: Record a payment, a deposit, a sales receipt and a gift in cash or by check offer it as where the money came into, and what comes in there waits on this page until it goes to the bank.

Rather not? Choose None to record money straight into a bank again.

Who: Whoever keeps the organization's chart of accounts: the top unit's finance keeper, an Owner or an Admin. Anybody else is told who chooses it.

The Boston office takes checks at the front desk on Sundays. Grace adds Undeposited funds in one press; on Monday the week's checks go to the bank as one deposit.

Take cash and checks to the bank

1. Choose the unit at the top, if you can open more than one book.
2. Under Waiting in Undeposited funds, choose each check and the cash going to the bank together, or Choose every one. Their sum shows as you choose.
3. Choose the bank it goes Into, the day it was Deposited on, and the Slip number if the bank gave one.
4. Press Make the deposit.

Then: One entry posts on its day: the bank goes up by the sum, and Undeposited funds comes down — a line for each fund on each side, so every fund balances. What was in it no longer waits, and the deposit is listed under Deposits made, waiting for its line.

On Monday, Dara takes Sunday's three checks — $200 and $150 for invoices, and $90 for the youth camp — to First National. Dara chooses all three, then 1000 First National Bank and slip 0042, and presses the button: one entry of $440, $350 in General and $90 in Youth camp.

Match the deposit to the bank's line

1. Upload the bank's statement, or let the bank feed bring it in.
2. Open For review: the bank's one line for the deposit is offered the deposit's entry as its match.
3. Press its match button.

Then: The bank's line is done, and the deposit says Matched under Deposits made. The checks in it are never offered one by one: they were never in the bank's account.

The statement shows COUNTER DEPOSIT 0042, $440. For review offers the deposit made on Monday, and Dara matches it.

Undo a deposit made by mistake

1. Under Deposits made, press Undo beside it.
2. Say why, and confirm.

Then: Its entry is reversed, on the record, and what was in it waits in Undeposited funds again, to go into another deposit.