Lesson 44-- Making Deposits
This lesson shows you how to use Goldenseal small business accounting software to handle incoming payments. It's the final stage of the accounts receivable process.
To deposit funds into a bank account, follow these steps:
To view specific items and deposit them, follow these steps:
Goldenseal will automatically create deposit transactions, and mark the source transactions as paid.
Types of Deposit Income
Goldenseal shows different items in the Deposits Funds window, based on what you choose in the Type popup menu.
Use deposits whenever you collect money from sales, billing or other transactions, and want to put it into a bank account. If you keep money in a cash account, you'll also use deposits to add to the funds there.
Do not use deposits for money that you transfer from one bank account to another-- use a bank transfer instead (see page 274). Also use transfers for interest and other miscellaneous income that comes directly from the bank.
Creating a Deposit
To create a checking account deposit, follow these steps:
Paying One Item
To deposit a payment from one sale or billing record, follow these steps:
HINT: To view the transaction or transactions that are being paid, choose Detail Transaction from the View menu.
If the deposit does not reference a specific transaction, enter Received On Account into the Payment Type field. Goldenseal will add the deposit amount to the 'on account' balance for the payer.
To deposit a payment for more than one transaction, follow these steps:
Deposits On Account
If a customer pays you money that doesn't apply to a prior transaction, follow these steps:
When you receive payments or make deposits, Goldenseal automatically 'posts' the action to the transactions that are included in the deposit.
If you include sale, billing record or rental transactions in a payment receipt transaction, Goldenseal changes their status to Paid. Paid transactions will no longer appear as a part of Accounts Receivable.
If you include sale, billing record or rental transactions in a deposit, Goldenseal changes their status to Deposited.
If a payment receipt or deposit covers only part of a transaction, Goldenseal changes its status to Part Paid. The remaining balance will still be included the next time you use the Deposit Funds command, or the next time you create a payment receipt or deposit and reference the partially paid transaction.
In this lesson you have learned how to use the Goldenseal accounts receivable software to make deposits.
You might want to take a break now, and wander down to the local branch office of your local bank. Take a sniff. Doesn't it smell good? That's the aroma of fresh currency.
In fact it smells so great, why make deposits at all? Just keep the stuff around the office, and you won't need to use room freshener. Or hang a bill from the rear-view mirror in your car or truck, instead of a scented pine tree.
Yes, you can also fold dollar bills into a chic green hat, suitable for shopping or other festive occasions. It only takes about a half-dozen. You might need to use some duct tape as a stiffener, if the bills are worn.
HINT: For even more festive headwear, convert your currency into foreign denominations that have brighter colors.