DESKTOP EDITION CLOUD EDITION SERVER EDITION GUIDES FORUM

Deposit to Bank from Cash


#1

I have a Cash account and Bank Accounts.

When entering a new DEPOSIT to the bank, I cannot select the CASH account in the lines as a source line. i.e. I’d like to be able to take money from petty cash and include it in a deposit.

Could you please update the lines section of the Bank deposit form to allow Cash accounts to be selected in the list of values for the account so that I can make an entry to Dr Uncleared Deposits / Cr Cash on Hand

Thanks.


#2

Go into you cash account and click to you bank account.


#3

Thank you. That’s fine if you want the cash to show up immediately in the bank.

However I’m including some cash with some cheques when making a deposit. I want to clear the deposit when it clears until then I’d like to treat it as part of the uncleared deposit.


#4

Transfer money button will be removed in a few days and it will be possible to select cash account on line item level. So for example, if you create new bank deposit, you will be able to credit cash on hand. Bank deposit can be then cleared once it appears on the statement the usual way.


#5

I’m sorry to add a further discussion but feel things may be changing that affect my workflow now so this topic is relevant to my question.
I don’t import bank statements into Manager
I deposit cash and cheques twice a month, sometimes more, amount related
I have created a cash account called "Undeposited funds"
My work flow…
Sales invoice created. When payed for by customer, I click receive money and allocate to Undeposited Funds account (cash account), if payment in cash I write in description "Payment for invoice xxxx CASH"
If cheque I write in description “Payment for invoice xxxx CHEQUE” and enter the cheque number in the reference box.
This allows me to use the search function to drill down.

Several more customers paid and money received and allocated to Undeposited funds account.
Half way through the month I will deposit the cash and cheques into the bank. I count the total of cash and cheques and compare to the Undeposited funds account to make sure they match, I then fill out a bank paying in slip and enter the correct amount of cash and amounts in cheques and pay into bank.
I then transfer money from Undeposited funds account to Business account to reflect the deposit which clears this account down to "0"
This has worked well for two years and is quick and simple with no more work needed.
I have read that @lubos is going to remove the “Transfer” button soon so this is going to affect the way I do things now.
I haven’t tried the new functions yet but think I may be forced to use them soon.
Will this take me more time / be more complicated than the way I just described as I don’t import my bank statement into manager?
When I use the method just described, I don’t need to change any dates to mirror my bank statement, when I pay in cheques yes they take 3 days to clear but once cleared the date is the same as the day I deposited the cheques and cash.

Would I have to use the new features as I’m unsure how they all work (no guides) and will this cause me more work/time?
Thank you


#6

I’m still planning to use my undeposited funds cash account. My thought was I could then use the new deposit function to deposit it then clear that deposit when it cleared.

So
Receipt - dr undeposited funds (cash acct)/ cr Receivables

Deposit
Dr uncleared deposits (which shows up on the bank account summary now) / cr Undeposited funds

Clearing
Dr cash at bank/cr uncleared deposits

I’m hoping this will work using the new functions.