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Making deposits
The opening balance transaction above was a deposit. Some deposits may be readily made in the register.
Make Deposits
XE "Make Deposits" window is needed when you have a stack of checks. A handful of checks may be very comforting, but the register entry won’t handle them. Before using
Make Deposits,
it is better to have the bank account register displayed.
Click
Activities|Make Deposits
(click, in the menu bar, Activities,
then, in the dropped menu, Make Deposits.)
Make Deposits
window may appear, or it may not.
Select Payments to Deposit
will pop up, if payments
have been received through Accounts Receivable. If this occurs, click the
Select None button, then OK.
These will be handled in Chapter 8.
Deposit to
is used to send the deposit to the correct account. If the bank account register was already open,
the deposit will default to that account. After the deposit window is closed, the register will be seen again, to
verify the deposit. The alternative is to read the
Deposit to
box first, making a selection, if needed. Press
Tab.
Date
XE "date:entry" field will show a date, which may be the system date. A different date may be entered
in the form 2/29/96,
or with six numerals, and no slashes, as
022996. If 290296
is more to your liking, look into the
Windows Control Panel, for
International or Regional
settings. Canada
is a likely choice.
CAUTION
Always check the date of any transaction. Dates in QuickBooks are “sticky.” If a transaction must be back
-dated, the next one will probably come with the same date. Overlooking this can give a transaction an
unexpected date. It may not be in the displayed range of the register. You might think it had not been entered
. This has happened. Users have done this and then thought that the transaction disappeared. The unfortunate
response was the entry of duplicates.
Time
XE "Time" in QuickBooks for Windows or Macintosh (but not DOS) began on January 1, 1928, and
ends on December 31, 2027. All dates are taken as one of the included 36,525 days.
TIP
The date XE "date:change" may be changed by pressing the following symbol and letter keys:
+ Next date
- Previous date
T Today
Y First of the Year
R End of the yeaR
M First of the Month
H End of the montH
Received From
column typically contains a customer name, if anything. This name will be connected with the
opposite entry in the transaction. (In a deposit, The name field may be empty.) Any name on the names list
XE "names list" may be used. All names are identified either as
Customer, Vendor, Employee, or
Other Names. Note again, that
Control-L
and the down arrow give different results. These actions vary within
Quickbooks. (More about names in Chapter 6.)
No name will be entered in the account register from a transaction entered through
Make Deposits. If a
name is desired, it can be edited into the transaction directly in the register.
Amount
will contain the amount of each item in the transaction.
From Account
is the opposing account. An asset account would be used, for example, if a computer had
been purchased. In cash method accounting, an income account would be credited. When reviewing deposits
of payments made through receivables,
Accounts Receivable will be seen.
Memo
column receives text that will be associated with the transaction in
From Account, (on this line) and
may be retrieved in many reports. Text in this column is not associated with the bank account, and is not visible
in the check register. The content of the memo box, at the bottom, is visible in the bank account register.
Check Number
is actually a text field, of eleven characters, for identifying the payment. Numerals can be
entered, but QuickBooks will not recognize them as numbers.
Pmt Meth,
with a pull-down list, allows selection of payment method, such as cash, check, credit card, etc.
Users may add to this list.
Class
may be entered, if your accounting plan (Chapter 2) calls for classes.
Pmts
button (lower right) temporarily opens the
Select Payments for Deposit
window, to include more or
fewer payments in the deposit.
OK
button (middle right) records the deposit and closes the window.
Cancel
button (or Esc
key) means “Oh, forget it” and is useful if you are merely examining a transaction, but
do not want to record any change.
Print
button allows printing a deposit record, but does not record the deposit. Try it, to see if it is what you
want. If a deposit has been printed, and is a real deposit, do not press
Esc or click Cancel.
Click OK and
record the transaction.
Next and Prev
are used in editing, for access to next or previous deposits, and are discussed in Chapter 7.
Next
would also be useful if you made several deposits in succession. I do not know why you would, but I
expect that somewhere, someone always makes up several deposits in a row.
Memo
box is at the bottom of the window, below the deposit detail columns. Text entered in the memo box
XE "memo box" will appear in the bank account register. In reports, it will appear with the deposit in the
bank account. This is entirely separate from the memo column, above.
Deposit Total
appears at the bottom of the window, generated in the manner of Euclidean geometry (the
whole is equal to the sum of its parts.) This number is not in a box, because you have no direct access to
change it.
NOTE
The QuickBooks reporting system views these transactions as double-entry records, in its own specific way.
In a report, one end of this transaction will be viewed as being in the bank account. This includes everything
outside of the columns in the
Make Desposits
window, specifically the total amount, the deposit memo
(bottom of the form,) and if entered, the payee name showing in the register. All the information entered in the
columns, beginning with the Received From
name, is associated with the opposing account or accounts.
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