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This screen replaces the old POS Register Deposit screen, but also opens up the ability to control your deposit dates for all funds collected by your company. Cash use to tie directly into the Bank Account GL as soon as it was collected in features like Cash Receipts, Customer Deposits and Non-AR Cash, however, with the new Cash Flow changes, all cash will now rest in your Undeposited Funds account. It can be reviewed in this screen and officially deposited into your Bank Registry at the amount you need in order to easily reconcile with your Bank Statements. Non-On Account terms are also a part of this feature, but are handled in more detail than cash.
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Detail
There is an “Open Register Total” near the top that displays the total amount of all funds sitting in your open registers. The “Total Undeposited Funds” field includes the Open Register Total plus all of the available transactions in this screen and this total should reconcile with your Undeposited Funds account balance. The Open Register Total is separated because even though they are technically undeposited funds, they do not appear for deposit until the register has been closed.
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