Record bank deposits

If a customer pays you with cash or by cheque, when you enter a sale, you can record this transaction in your cash account. When you deposit this money into your bank account, record the bank deposit which transfers the money from your cash account to the relevant account.

When you first sign up, a cash account is automatically created for you. If required, you can create new cash accounts.

To deposit money into your bank account

  1. Go to Banking.
  2. On the New Entry menu, click Money In.
  3. Enter the following information:
    Contact (optional)If you want to record this receipt against a particular contact, enter the name here. If it is a new contact, click Add a contact and add the contact information.
    Paid into Bank Account *Verify that the correct bank account appears. If you need to change this, select the correct account from the drop-down list.
    Date Received *Enter the date the money was received.
    Your Reference (optional)If required, enter a reference for this receipt.
    Amount Received *Enter the total amount of the receipt.
    BalanceThe current bank balance for the selected bank account is displayed here.
    CategoryThe default category appears. If required, you can change this.
    DetailsIf required, you can enter more details about the sale, such as what item was purchased.
    Tax Rate *Select the correct tax rate for this transaction.
    TotalThis defaults to the value you entered in Amount Received. You can change this if required.

    * Indicates a required field.

  4. Click Save.

The amount is deposited into the account you specified and the bank balances are adjusted accordingly.