Bank Deposits are used to electronically process payments received from Customers. Deposits are paid from an undeposited funds account to a bank account by selecting Customer payments to be processed.
Note: Receipting transactions into the Undeposited Funds account and then transferring them into your bank account using the Bank Deposits window may enable simpler bank reconciliations. This particularly applies to credit card payments that can be grouped together as one amount in a bank reconciliation.
Once a Customer payment is processed, an electronic banking file is created. The file includes bank account details and Customer payment information. The electronic banking file can be imported to your online banking system prior to transferring funds into your account.
Posting a Bank Deposit automatically creates a Bank Deposit (BD) Journal that debits the selected bank account and creates a credit line for each transaction in the bank deposits account. See Adding a Bank Deposit and Reversing a Bank Deposit for further instructions.
During the process of creating an electronic banking file the following tasks may be performed on bank account transactions:
Email Remittances | Email remittance of payment to Suppliers with email addresses by clicking the Email Remittances |
Generate an Electronic Banking File | An Electronic Banking File can be exported and uploaded to your bank for automated payment processing by clicking the Create Electronic Banking File |
View Payment Details | Select a transaction and click the View Payment Details |
Modify Customer Details | Select a Customer transaction and click the Modify Supplier Details |
Generate Credit Card file | An Credit card file can be exported and uploaded to your bank or credit card processor for automated payment processing by clicking the |
Ezidebit file export | The |
