How to bank undeposited cash

Cash banking is done in 2 steps; the first is entering the cash received into an undeposited cash bank GL account, the second is taking the cash out of that first account and entering into your business bank account at the time the cash is taken to a physical bank branch.

Banking the cash into an undeposited cash account

1. In the Accounts Receivable tab, click Bank Deposits.
2. Select your Undeposited Cash account, then click New Banking.
   
   
   
3. Enter the Date the cash was received.
4. Select the Payment Type as Cash.
5. Enter the Amount and the Client.
6. Select the Payment Line, click Record, then Post.
   
   

When you physically take the cash to the bank

1. In the Accounts Receivable tab, click Bank Deposits.
2. Select your Undeposited Cash account, then click New Banking.
   
   
   
3. Enter the Date you are depositing the cash into the bank.
4. Enter a Negative Dollar Figure.
5. Select Your Business as the client (you may need to untick "Show only clients with known debts").
6. Navigate to the Cash Taken tab.
7. Select Your Business in the client field.
8. In the Account line, select the Bank you are depositing the cash into.
9. Enter the Amount.
10. Tick Till Under.
11. Click Add Total Cash Taken to List.
    
    
    
12. Click Record, then click Post.
    
    
    
    
13. You will be prompted to print a Deposit Slip to be taken to the bank along with the cash.
    
    

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