You need a way to group all of the day's deposits into one number in the account, so you can reconcile the deposits against the Bank monthly statement.
I too would like to see a "make deposit" function similar to QuickBooks. Thanks!
K Ayres commented
Posting to "Undeposited Funds" does work but it is a long way of doing this and requires people to know the software well. It does not follow the basics of posting deposits that most people expect in accounting software but it does work for now and it is part of the process that accountants expect.
Still would like to see a more coherent process that groups payments for deposits and post correctly in the system.
There is another similar request for this feature called "Deposit slip". All checks and cash payments I receive should go in un-deposited funds. From there I should be able to select all the checks I wish to deposit in my bank account and be able to create a deposit slip to take to the bank with the checks. This is very basic feature available in Quickbooks and Sage. Please get this implemented ASAP.
Let me make this clear. When I click on "deposit" button, I select say 12 checks. I set the Date for the deposit, the account for the deposit. Then hit the save button. When the bank feed shows the deposit, I hit "Match" and ALL the checks get the "Matched" status.
This should show all "Paid" but "Not Deposited" invoices/Sales.
I am sorry, but as financial software goes, this is banking 101. How has this not been implemented from day 1
Isn't this accomplished by the regular process of recording payments to the "Undeposited Funds" account, and then doing a deposit? It seems to work for me, but I'm new to Zoho. That's the standard route for most accounting packages I'm familiar with.
Totally agree. It is very time consuming to add each individual check payment to match the deposits in the bank.