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 Overview

Depositing money into a receiving bank is the first step in performing a bank transfer.

 Before You Begin

In Accounts Receivable Options, select the Require Deposit Amount check box.

 

To deposit the money into a receiving bank

1. Select Accounts Receivable Main menu > Cash Receipts Entry. If you have batch processing enabled, the Cash Receipts Entry Batch window appears. Enter the batch number and click Accept.

2. In the Cash Receipts Deposit window, enter the deposit number, description, bank code, deposit date, and cash deposit. For more information, see Cash Receipts Deposit – Fields.

Note  The Cash Deposit Amount field is available only if the Require Deposit Amount check box is selected in Accounts Receivable Options.

3. Click Accept.

4. In Cash Receipts Entry, enter the default "cash" customer to post the transfer to. For more information, see Cash Receipts Entry – Fields.

5. In the Deposit Type field, select Cash.

6. In the Check No. field, enter a check number for the deposit transfer.

7. In the Amount Received field, enter the amount of the deposit transfer.

8. Click the Lines tab.

9. In the G/L Account field, enter the clearing account established in the general ledger. The amount posted defaults to the amount of the transfer.

10. Click OK. Accept the entry.

11. Print and update the Cash Receipts Journal and Daily Transaction Register.

    Note Depending on your security setup, the Daily Transaction Register may be automatically printed and updated.

The transfer debits the bank account and credits the clearing account.