Efficient financial management is the backbone of any successful business, and the Bank Deposits feature is a key player in this game. Whether you're a seasoned entrepreneur or a newcomer to the business scene, understanding the ins and outs of bank deposits is crucial.
This article serves as your quick guide to frequently asked questions (FAQs) and troubleshooting tips related to the Bank Deposits feature. We'll unravel any uncertainties you might have, ensuring you can harness the full potential of this financial tool. Let's simplify the complexities of managing bank deposits and empower your business to thrive using Revenue Management.
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Frequently Asked Questions
Troubleshooting
Frequently Asked Questions
What Are "Auto Bank Cashup" Bank Deposits?
Within the bank deposits section, you may notice that some bank deposits in Deposited state (or higher) show with the reference "AUTO BANK CASHUP".
These are bank deposits which been automatically created marked as deposited, which happens when a cash up related to the deposit is updated to the Approved state.
Automatic bank deposits use the following information to generate the deposit:
- The count entered in the cash up becomes the bank deposit amount.
- The cash up Sales Date is that of the bank deposit.
- The cash up end date and time is the time of the bank deposit.
- The Bank type "Deposit To Account" configured in the Cash Count Template (as below) is the account that the deposit goes to.
Note that automatic bank deposit should not be manually rolled back or deleted. Instead, if the automatic bank deposit is incorrect, the value can be corrected either by:
- Unapproving The Cash Up and correcting the count within the cash up. (This deletes the original bank deposit and creates a new one.)
- Adjusting the deposit value via the Bank Deposit Reconciliation Feature.
What Accounts Do Bank Deposits Use?
Bank deposits are site specific, and therefore bank deposits use Site Accounts.
Within a bank deposit there are two site accounts required:
"Deposit To" Account
Within the bank deposit page, the Deposit To Bank Account represents where the payment is finally deposited to, and lists all Bank type site accounts that are available to deposit to for the site.
To reduce the risk of error, Bank accounts can be prevented from showing in this list by enabling the Exclude Account From Banking option within the Site Account Setup.
"Deposit From" Account
Within the bank deposit page, the From Site Accounts section displays all Cash type accounts that are available to deposit cash from at the site.
To reduce the risk of error, Cash accounts can be prevented from showing in this section by enabling the Exclude Account From Banking option within the Site Account Setup.
Troubleshooting
I'm Not Able To Mark By Bank Deposit As "Deposited"
To ensure data integrity. when depositing a bank deposit there are many checks put in place. If any of these checks fail, you may see an error message below preventing the bank deposit from depositing:
- I cannot see the [DEPOSIT] button.
- I'm getting the message: "Account must exist..."
- I'm getting the message: "Banking Reference can't be blank..."
- I'm getting the message: "At least one value needs to be entered..."
- I'm getting the message: "Accounts: At least one value > 0"
- I'm getting the message: "X Bank Deposits already exist..."
If you are still unable to deposit your bank deposit, Contact Centegra.
I cannot see the [DEPOSIT] button.
If you cannot see the [DEPOSIT] button within the bank deposit page, your user profile currently does not have access to the deposit process. For more information, Click Here
I'm getting the message: "Account must exist..."
When selecting the [DEPOSIT] button, you may see the following message:
Account must exist. Deposit to Bank Account can't be blank.
This occurs when the Deposit To Bank Account field is blank. Select the required bank account in this field. If no accounts are available to select in this list, Contact Centegra.
I'm getting the message: "Banking Reference can't be blank..."
When selecting the [DEPOSIT] button, you may see the following message:
Banking Reference can't be blank. At least one value needs to be entered, even if it is zero.
This occurs when the Reference field is blank. Enter a reference for the bank deposit.
Typically, the bank deposit reference is the bank deposit slip number, or the ID of a sealed cash bag.
I'm getting the message: "At least one value needs to be entered..."
When selecting the [DEPOSIT] button, you may see the following message:
At least one value needs to be entered, even if it is zero.
This occurs when no deposit value for a cash account has been specified. In the From Site Accounts section, enter the deposit value into the Deposit Amount column against the relevant site account.
I'm getting the message: "Accounts: At least one value > 0"
When selecting the [DEPOSIT] button, you may see the following message:
Accounts: At least one value > 0
This occurs when the deposit value for a cash account has been entered as 0.00.
For the selected bank account, the deposit value must be greater than 0.00 unless zero deposits to the bank account are allowed. This restriction is as per the Allow Zero Bank Deposit setting against the Bank Account within the chart of accounts as covered in This Article.
I'm getting the message: "X Bank Deposits already exist..."
When creating the bank deposit, you may see the following message and notice that the [DEPOSIT] button is disabled:
X Bank Deposits already exists for this Bank Account for the selected Sales Date. The limit is 1 per Sales Date, you cannot perform a new bank deposit.
This occurs when deposits to the selected bank account already exist for the selected Sales Date, and a restriction is in place limiting the number of bank deposits per Sales Date.
This limit is as per the Limit Bank Deposits Per Sales Date setting against the Bank Account within the chart of accounts as covered in This Article.