Deposit types

1. In the Navigation pane, highlight the Accounts Receivable > Setup > Deposit Types folder.
2. Click . The New Deposit Type window opens.

   

3. Enter a unique Code for the deposit type.

   Examples

   • Cash/Checks
   • MC/Visa
   • AMEX
   • Lock Box
   • PayPal
4. Enter a Description of the deposit type.
5. In the GL Batch field, enter the GL batch name to associate with the deposit type. The batch name is used on all deposit receipts for the deposit type. This ensures that all receipts for a given deposit type are summarized into the same GL entry.
6. In the Bank Account field, select the bank account to which to post deposit receipts for this deposit type. All receipts for a given deposit type must post to the same bank account to ensure the appropriate bank reconciliation transaction is generated.

7. In the Deposit Reference field, enter the literal text and/or keywords to use to generate the deposit reference that appears on deposits of this type. The deposit reference can be up to 20 characters long. The reference is copied to the bank reconciliation transaction's Reference field when the transaction is created during GL merge.

   Changes to the deposit type do not affect existing deposits, so you can change how the deposit reference is generated on future deposits without impacting existing deposits.

8. In the Deposit Description field, enter the literal text and/or keywords to use to generate the deposit description you want to appear on deposits of this type. The deposit description can be up to 40 characters long. The description is copied to the bank reconciliation transaction's Description field when the transaction is created during GL merge.

   Example - multiple receipts on a deposit

   • Deposit Reference: <Receipt Count> Receipt(s)
   • Deposit Description: <Deposit Name>

   Example - one receipt per deposit

   Suppose you have a deposit type called "AMEX" for American Express credit card receipts. Because you want to generate one receipt per credit card transaction, the deposit type is flagged as "One Receipt per Deposit". You want the deposit reference to consist of the credit card machine number and the "batch out number". The "batch out number" comes from the receipt reference; the credit card machine number is the same for every receipt ("78"). Because there will be a different AR customer on each receipt, you want the deposit description to show the customer name. The following reference and description accomplish this:

   • Deposit Reference: 78 - <Receipt Reference>
   • Deposit Description: <Customer Name>

9. In the Receipt Types field, select the receipt types allowed by the deposit type. If you enter multiple receipt types, separate them with commas. A receipt is only included in a deposit if the deposit type allows its receipt type.

   Note

   The Ctrl and Shift selection features are available in the Find dialog box so you can select multiple receipt types. If you use this method to enter receipt types, ActivityHD automatically separates your selections by commas.

10. If you want deposits of this type to only contain one receipt per deposit, mark the One Receipt per Deposit checkbox.

    Example

    Suppose you are creating a deposit type for a credit card machine. Each "batch out" of a credit card machine generates a single deposit at the bank. Mark the One Receipt per Deposit checkbox so that you can create a separate receipt for each "batch out". This allows you to record the batch number in the receipt reference. This means you can have multiple "batch outs" from the same credit card machine on the same day. Creating a separate deposit for each receipt facilitates bank reconciliation.

11. Save the new deposit type.

The Create Deposits wizard allows you to create deposits that can subsequently be assigned to receipts as the receipts are entered. This process generates a series of deposits for a range of dates you specify, one deposit per selected type per day.

1. In the Navigation pane, highlight the Accounts Receivable > Setup > Deposit Types folder.
2. Start the Create Deposits wizard.
   • To create deposits for all or a filtered subset of deposit types:
     1. Right-click the Deposit Types folder and select Select and Create Deposits from the shortcut menu.
     2. On the Selection tab, define any filters to apply to the data.

        

   • To create deposits for specifically selected deposit types:
     1. In the HD view, select the deposit types to create deposits for. You can use Ctrl and/or Shift selection to select multiple records.
     2. Click .
   • To create deposits for a particular deposit type from the Deposit Type window:
     1. In the HD view, locate and double-click the deposit type you want to create deposits for. The Deposit Type window opens with the deposit type record loaded.
     2. Click .
3. On the Options tab in the date fields, enter the range of dates to create deposits for.

   

   Note

   Deposits of a given deposit type are only created for the days in the specified date range that do not already have a deposit of that type created.

4. Click Next >>. ActivityHD prompts you to confirm that you want to create the deposits.

   

5. Click Yes. ActivityHD creates the deposits.

   

6. Click Next >>. ActivityHD lists the deposits you created. All deposits created in this process have an initial status of "New".

   

7. Click Finish.