Enter Customer Deposits

Owned by Stephen Juliano (Unlicensed)
Last updated: Jun 23, 2022 by Colleen Juliano
3 min read

Table of Contents

Overview

Deposits for sales orders can be received at any time using the Enter Customer Deposits screen.  The sales order must have already been entered and processed.  When a deposit is processed, a non-A/R cash receipt is made via the Banking Module.  The General Ledger entries for deposits are posted to the General Ledger via the Banking module.

Detail

 

  • The cash account is indicated by the bank account used when making the deposit entry.

  • The A/R Setup screen specifies the customer deposits account.

  • The A/R account is dictated by the A/R account on the invoice.

Deposits are used automatically when the sales order is invoiced.  During the invoicing process, a cash receipt entry is made and applied to the invoice.  The amount of the cash receipt is the greatest of either the invoice amount or deposit amount.  If the deposit is not used completely on the invoice, the balance of the deposit is saved and used on subsequent invoices for the sales order.

Note:  If a deposit has been taken on an order, the order cannot be completed via the will call function in POS.  It must be shipped and invoiced using the Sales Order module.

The cash receipt entry is modified to use the A/R and deposits accounts rather than the normal General Ledger accounts.  A cash receipt entry is used to apply deposits instead of credit memos because credit memos will affect sales figures and the use of deposits should have no affect on sales.  Deposits can be transferred to other sales orders.  A new deposit is made for the new sales order when the original deposit is transferred from the old sales order.  No General Ledger entries or cash deposits are made.  Only the balance of the deposit is transferred.  This allows a deposit for one order to be used for the balance on a 2nd sales order.

To Enter a Deposit for a Sales Order

Go to AR > Deposits > Enter Customer Deposits.

Enter the information about the deposit.

  • Date - This is the date of the receipt of the deposit.  It also identifies the date of posting to the General Ledger via the Banking module.

  • Bank - This is the bank account where the funds are deposited.  It also controls the cash account for the General Ledger entries.  Press F9 for a list of bank accounts.  The default bank account setup on the A/R setup screen is used by default.

  • Order # - This is the sales order number that receives the deposit.  The user can press F9 for a list of all open sales orders.

  • Terms - The Terms indicate the form of payment.  Only cash check, or credit card type terms are allowed.

  • Check # - This is the number of the check being received from the customer.

  • Deposit Amount - This is the total dollar amount of the deposit.

Click on the process button on the toolbar.  Deposits are an exception to normal processing and are not processed in batch mode.

Note:  Deposits can be viewed for a customer on the Customer Account Inquiry screen as well as the Deposits tab of the Order Query screen.

Order Query Screen

Customer Account Inquiry

If verification of the deposit receipt is needed we have the deposit receipt report screen.Â