Processing Deposits

Objective

After completing this lesson, you will be able to deposit received payments into the company's bank account.

How to Deposit Checks and Cash Received from Customers to the Company House Bank Account

In business cases where the business has predefined clearing accounts, the system automatically uses these accounts when the users post incoming payments via cash, check, or credit card. After posting these payments, a deposit to the bank account is required. SAP Business One, Web client offers the Deposit option to document and manage the transactions with the bank.

Business Example

At the end of each day, Maria, the accountant at OEC Computers, takes cash from the cash register (the cash clearing account) and checks from the check drawer (the checks clearing account) and deposits them to the bank. She uses the Deposit transaction in the Web client to document this posting.

The posting from a Deposit document used to transfer the funds from the clearing account to the house bank account and clear the clearing account.

The graphic shows the posting from a Deposit document used to transfer the funds from the clearing account to the house bank account and clear the clearing account. The clearing account is credited and the bank account is debited.

In this video, we’ll focus on depositing checks and cash.

Summary

Predefined clearing accounts automatically capture incoming payments from cash, checks, and credit cards before bank deposit.
The Deposit transaction transfers funds from clearing accounts to house bank accounts while maintaining proper audit trails.
Both cash and check deposits can be processed separately with specific G/L account assignments and reconciliation options.
Multiple deposit views enable comprehensive monitoring and management of all company deposit transactions and individual payment methods.

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