Deposit

Deposit

Finances >  Cashbook > Deposit

Type <Ctrl> <F> to search for words in the article.

A deposit is a grouping of receipts that can then be taken to the bank and banked so that there's only one entry that will reflect on the bank statement. This deposit will then reflect on the bank statement which will then have to be reconciled with the deposit made on the system.

How to make a deposit

  • To make a deposit, click on the " make a deposit" button
  • Select the deposit date. The date will automatically default to the current day's date but you can change it by clicking on the down arrow. The date should correspond with the date that the deposit was made at the bank
  • The deposit number will be automatically generated by the system and will follow a numeric order
  • You can add a deposit slip number should you want. This field is optional. Usually the school's have a deposit book which they received from the bank and use to make deposits. This book will also follow in numeric order and this number can get filled in the deposit slip number field on the system
  • Choose receipts to deposit by making one of the following choices:
  1. Receipt Number. This allows you to include receipts up to a certain receipt number
  2. Up to a date. This allows you to include receipts up to a certain date.
  • Click on the  "continue" button to proceed
  • The first block would contain the deposit information and will look as follows:
  1. Deposit date
  2. Deposit number (will automatically be allocated by the system)
  3. Cheque amount, if relevant
  4. Cash amount
  5. Total amount
  6. Cheque amount not allocated (this amount should reflect as zero when you do the second step of the deposit)
  7. Cash amount not allocated (this amount should reflect as zero when you do the second step of the deposit)
  8. Total amount not allocated (this amount should reflect as zero when you do the second step of the deposit)
  • The next couple of blocks will represent your various bank accounts and petty cash. Here you would have to indicate to which bank account you want to make a deposit to and how much. In most cases, money will be deposited to your current account and petty cash
  • The last block will represent all the receipts available for banking. There will be a tick next to each one but should you not want to bank a specific receipt, you can just remove the tick next to the receipt number
  • After selecting the receipts that you want to bank, the "amount not allocated" in the first block should reflect as zero
  • Click on the "continue" button
  • The system will then confirm that a deposit has been made an will give you the opportunity to preview the deposit as well as the bank deposit slip

How to look a deposit up

  • By "select deposits for", choose the relevant date by clicking on the down arrow
  • Click on the radio circle to choose the relevant deposit
  • Click on the "preview" button
  • The system will display the relevant information pertaining to the deposit

Frequently Asked Questions

Can I bank cash received to my petty cash

  1. Yes, you can. It does sometimes happen that the school requires immediate cash to pay for expenses such as casual wages. The system does cater for this process whilst keeping an audit trial. 

Must I deposit the full amount on a receipt

  1. The system allows you to split the amount on a receipt between your bank and petty cash but it will not allow to only partially bank a receipt. In other words, if you have a receipt for R1 000.00 you would have to bank the actual R1 000.00. You can, however, only take R 500.00 to your bank and then bank the other R 500.00 to your petty cash as long as it balances back to the R1 000.00

© Copyright d6 group (Pty) Ltd

    • Related Articles

    • Cashbook Report

      Reports > Finances > Transactions > Cashbook Report Type <Ctrl> <F> to search for words in the article How to generate a cashbook report Choose the period for which you want to generate a report for Choose the format of the report by clicking on the ...

    • Cashbook Accounts

      How to create a bank account Click on the create an account button. Enter the account code Enter the account name Choose the date from when the account is active You can add a sub-account if you want to but it's not compulsory Add a description if ...

    • Receipts

      Finances > Cashbook > Receipts Type <Ctrl> <F> to search for words in the article. A receipt is a document that proves that money was paid to the school and has been received. The System is a process-driven system and makes provision for various ...

    • Payments

      Finances > Cashbook > Payments Type <Ctrl> <F> to search for words in the article. This function enables the user to process or search for a payment. A payment in this regard is utilized when any funds are paid to an individual or institution from ...

    • Transfers

       Finances > Cashbook > Transfers Type <Ctrl> <F> to search for words in the article This function enables the user to perform and search for a bank transfer between bank accounts. This function will automatically link bank transfers on your bank ...