Create deposits in the US version

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Note

New capabilities for creating bank deposits are available in Business Central 2022 release wave 1 for a lot of country/region versions. If you were using Business Central in the United States, Canada, or Mexico before that release, you might be using the earlier capabilities. You can continue, but the new capabilities will replace the old ones in a future release. To start using the new features right away, your administrator can go to the Feature Management page and turn on Feature Update: Standardized bank reconciliation and deposits. For more information, see Create Bank Deposits.

You can make bank deposits to maintain a transaction record that contains information that can be applied to outstanding invoices and credit memos.

The Deposits page specifies bank deposit information such as the bank account number, total deposit amount, deposit lines, posting date, document date, department code, currency code, and bank deposit notes. You can use the page to create new bank deposits, post deposits, print deposits, view deposit comments, or view a report that shows the deposit amount to reconcile.

The Deposit report displays customer and vendor deposits with the original deposit amount, the amount of the deposit that remains open, and the amount applied. The report also shows the total posted deposit amount to reconcile.

Bank deposit lines contain information about the individual deposited items, such as checks from customers. This information includes the document date and number, account type and number, and amount. The total of the amounts on the lines must add up to the total amount of the deposit.

After you fill in the deposit information and lines, you must post it in order to update the relevant ledgers, such as the bank ledger, general ledger, or customer ledger. Posted deposits are stored for future reference and can be viewed on the Posted Deposits page.

To create a deposit

  1. Choose the Lightbulb that opens the Tell Me feature. icon, enter Deposits, and then choose the related link.

  2. Choose the New action.

  3. On the General FastTab, fill in the required fields as described in the following table.

    Field Description
    No. The unique identification number for the deposit.
    Bank Account No. The bank account number for the deposit.
    Total Deposit Amount The total deposit amount posted to the bank ledger.

    You can post this deposit only if the sum of the deposit lines is equal to the value in this field.
    Posting Date The posting date for the deposit.
    Document Date The deposit document date.

  4. On the Lines FastTab, fill in the required fields as described in the following table.

    Field Description
    Account Type The account type.
    Account No. The unique identification account number that is associated with the selected account type, to which the entry is posted.
    Description The journal line entry description.
    Document Date The journal line entry document date.
    Document Type The journal line entry document type.
    Document No. The journal line entry document number.
    Credit Amount The total credit amount on the journal line.

  5. Optionally, choose the Dimensions action, and then add dimensions on the Dimension Set Entries page.

  6. Choose the Post action.

    Tip

    To post a bank deposit as single bank account ledger entry with the total sum of amounts in the bank deposit lines, turn on the Post as Lump Sum toggle on the bank deposit. To post as lump sums for new bank deposits by default, on the Sales & Receivables Setup page, turn on the Post Bank Deposits as Lump Sum toggle.

    Note

    You can post a deposit only if the amounts in the Total Deposit Lines and Total Deposit Amount fields are equal.

Next, you can use the Deposit Test and Deposit reports to reconcile your posted deposits with outstanding invoices and credit memos.

See also

United States Local Functionality
Finance
Setting Up Finance

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