Bank Deposits (v5.0)

Modified on Wed, 20 Sep 2023 at 09:32 AM

 

 

Purpose of this document

 

Similar to the Cash Receipts Journal functionality, Deposits may be used to record payments from Agencies, Financial Donors, etc.  A Deposit can also be used to transfer monies from one Bank Account to another.  You can apply the payment to one or more entries when you post the payment, or you can apply the posted entries later.

 

This document describes how to post transactions to G/L Accounts, Bank Accounts, Agencies, Vendors, and Fixed Assets accounts Bank Deposits.

 

Ceres Object release 5.00.00 is required for the functionality described in this document.


 

 

Table of Contents

 

Creating Deposits

 

1. Deposits can be accessed from Departments à Financial Management  à Cash

    Management à Lists à Deposits.

  

 

2. To start a new Deposit, click on New from the Deposits List.


3. If using Batches, select the Batch you want to use from the from General Journal Batch List and then click

    OK.  To create a new Batch, select New from the Home Tab of the Ribbon, and then update the fields as

    necessary.


 

 

4. Update the fields on the General FastTab of the Deposit.   The General FastTab relates to the entire deposit.


No.:  Enter the bank deposit number.  If a number series has been assigned hit Tab and this will be entered for you.

Bank Account No.:  Select the Bank Account from the List. The Bank Account No. field will automatically populate from the Bal. Account Type and Bal. Account No. field of the Batch.    

Total Deposit Amount:  Enter the amount of the deposit.

Total Deposit Lines:  System maintained field which is a total of the Deposit Lines.

Difference:  System maintained field which is the difference between the Total Deposit Amount and Total Deposit Lines fields.  Unless the difference is $0 you will not be post the Deposit.

Posting Date:   the posting date – date you wish the transaction to be recorded in the General Ledger. Typically, same as Document Date.

Document Date:  Enter the date of the deposit.

Department Code and Project Code:  These are your Global Dimension 1 and Global Dimension 2 fields.  They may have different descriptions depending on what you called them.  Select the Global Dimension 1 Code and/or Global Dimension 2 Code from the list that are appropriate.  If the deposit is for multiple Dimensions, leave this blank, you will choose the correct Dimension at the line level.

Fund No.:  Select the Fund No. from the list.  If the deposit is for multiple Funds, leave this blank, you will choose the correct Fund at the line level.

  

5. Update the lines on the Lines FastTab.  The Lines FastTab contains information regarding a specific payment that you wish to record:


 

Account Type:  Choose the appropriate Account Type.  If the payment is from an agency then select Agency.   You can select other Accounts Types for different types of transactions.

Account No.:  Choose the corresponding Account No. from the List.   The view will only show those applicable to the Account Type that you selected above.

Account Name:  Displays the Account Name of the entry in the Journal.   The Agency Name will display when the Account Type is Agency and the G/L Account Name when the Account Type is G/L Account.

Parent Account No.:  Non-editable field which will automatically fill in if an Agency is associated with a Parent Agency.

Food Drive No:  Select the appropriate value if you want to track financial $ received from a food drive in Ceres.

Grant Agency No.  Select the appropriate value to track or allocate $ to a specific Agency grant.

Description:  A description of the entry.

Fund No:  If applicable, select the appropriate value from the List.

Dimensions (Department, Project, etc.):  If these fields are applicable, select the appropriate data from the lists.

Document Date:  Enter the payment date on the check, wire, etc. or the date the payment that was received.  This field will automatically default to the Document Date that was entered on the General FastTab but can be overridden.

Document Type:  Select Payment from the list.

Document No.:  Enter the check number.

Credit Amount:  If you do not want to post the application at the same time you post the journal, enter the amount of the check.   If you want to post the application at the same time you post the journal do one of the following:

  1. To record a full invoice payment, click on the Lines Functions Button and select Apply Entries.  Select the line to which the payment is to be applied, and then click Home, Process, Set Applies-to ID.  Once you have set applies-to ID on the relevant line, click OK. 
  2. To record a partial invoice payment, in the Credit Amount field of the Deposit, enter the amount you wish to apply as a positive number. Then click on the Lines Functions button and select Applied Entries.   Select the line to which the payment is to be applied, and then click Home, Process, Set Applies-to ID.  One you have set applies-to ID on the relevant line, click OK.  
  3. If you are recording full payment for multiple invoices, click on the Lines Functions Button and select Apply Entries.  For each line to which the payment is to be applied, select the line and then click Home, Process, Set Applies-to ID.  Once you have set applies-to ID on the relevant lines, click OK.
  4. If you are recording a partial payment for multiple invoices, click on the Lines Functions Button and select Apply Entries.  On each line to which the payment is to be applied, click Home, Process, Set Applies-to ID.  Edit the Amount to Apply field, enter the partial amount as a positive number, and then click OK.


 

  

 

Reviewing the Deposit

1. After all the Deposit Lines have been entered confirm the Difference field on the General FastTab is $0.  If '/

    not update the Total Deposit Line amount or correct and update the Lines. 

2. Run the Test Report for a final review of the data.  The Test Report can be accessed from

    Actions à Posting à Test Report.  Select Preview to preview the report or Print to print copy of the report.


Posting the Deposit

 

1. The General Journal must be posted before the General Ledger is updated.


2. Post or Post and Print the Deposit.  Select the icon from the Action Pane or choose

    Actions à Posting à Print or Post and Print.  Select Yes to confirm that you want to post the journal lines.


Related Topics

Bank Reconciliation

 

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