Processing monthly bank reconciliations can be a very time-consuming task, what with juggling checks, deposits, and miscellaneous transactions – especially when there are multiple bank statements. Staying organized within each of these transaction types is the key to streamlining the reconciliation process. Available in both our Cash Receipting and GL/Budgeting applications, our Deposit Creation feature is just the tool you need.
Deposit Creation is an additional verification measure of your daily receipts. It organizes deposits by deposit date, deposit amount, and deposit bank, and you may view associated journal entries for individual receipts directly from the deposit screen – no need to exit the tool.
Deposits are created based on receipts taken in for a particular bank over a date range that you specify. During reconciliation, deposits can be cleared in their entirety based on what the bank received, rather than requiring you to find each check item that made up the deposit amount. This can be a valuable time-saver.
Deposit records can be saved for future reference; the Deposit Creation tool provides a search feature that lets you locate receipts and journal entries from previous deposit records. Additionally, you may enter notes for any deposit adjustments, and attach pictures or scanned documents, such as a stamped receipt from the bank.
In short, we believe our Deposit Creation tool can be a tremendous help to you. Instructions are in your software manuals, or you may contact us at any time by calling (855)272-7638, or through your program by going to Help>Contact Customer Support>Request Support Phone Call.