Cash/Cheque Deposits and Receipts for multiple invoices/members

There are a couple of scenarios when you will need to complete a Deposit. The first is in cases where money coming into your bank account is not via Direct Deposit or by Stripe. If you create an EFT receipt the Deposit is automatically created when you create the Receipt. Similarly Stripe creates its own receipt and  deposit/bank transfer when the money moves to your account.

Deposits also allow you to combine a number of inward money flows into one amount. For instance. You may have received a cheque and also have several amounts of cash. You go to the bank and deposit them and they show up on your bank statement as one total amount. However, you will have issued individual receipts for each of these payments and unless you tell Member Wizard what these individual amounts are and who they are from then they will not appear on your system as a combined amount when you come to do your Bank Reconciliation. A Deposit in Member Wizard will allow you to combine the amounts into one which will then match your Bank Statement while still allowing you to record what each of them was individually for.

Similarly when a member pays for one or more invoices or on behalf of both themselves and another person, even if they pay by Direct Deposit you should receipt each individual payment as Cash and then create a Deposit combining the amounts into the single payment received.

To create a Deposit access them through Money, Deposit in the left navigation. then click the Add button.

You will see a list of all the outstanding receipts you have issued which were not EFT. Select which ones you wish to include on the Deposit to match the ones you actually take to the bank then click Save. The total amount will then appear on your Bank Reconciliation to match the amount on your Bank Statement.

If you wish to include any other amounts which have not yet been receipted you can click the Add Receipt button.