Summary

The Receipt Deposits process is used to create a deposit transaction in the Bank Reconciliation module using the receipts in a committed Cash Receipts module batch (CR> Cash Receipts). If you are not using multi-bank checking, all of the selected receipts in a selected batch will be combined into a single deposit transaction. For example, if there are cash, check, and credit card payments in the Cash Receipts batch, and that entire batch is selected, all of those transactions will be combined into a single deposit transaction. This may be problematic if you do not receive the funds from credit card transactions immediately. In that case, you can select only the cash and check receipts for daily receipt deposit processing while saving credit card transactions for a less frequent deposit when the credit card receipts are actually deposited to your bank account. This partial receipt deposits by pay method functionality is a new feature exclusive to Cirrus.

If you are using multi-bank checking, you have the option to create a deposit from each receipt line item. This allows deposits to be grouped based on the bank accounts associated with the GL accounts on the detail line items on a receipt.

After a Cash Receipts batch has been processed in the Receipt Deposits process, a deposit transaction will be created in the Clear Transactions process (BR> Clear Transactions). The bank account attached to the deposit transactions will be increased by the deposit amount once the deposit transaction is processed and committed in the Clear Transactions process. For example, if you have deposited the receipts from a Cash Receipts batch into a bank account, process the batch in the Receipt Deposits process. This will create a deposit transaction in the Clear Transactions (BR> Clear Transactions). When you receive your bank statement verifying the deposit amounts were correct and had been cleared, process the deposits in the Clear Transactions process to increase the balance of the bank account.

The functionality of the Receipt Deposits process will vary if the Cash Receipts module is set up to use multi-bank deposits (CR> Utilities> Setup> Enable multi-bank deposits toggle). Multi-bank checking is used to associate specific GL cash accounts with bank accounts. If the Cash Receipts module is set up to use multi-bank deposits, the bank accounts associated with the cash account attached to the receipt line items will be used in the deposit transaction created in the Receipt Deposits process.

Step by Step

1     Open the Receipt Deposits page.

• The Receipt Deposits process is a single batch process, meaning you can process only one batch at a time.
• If there is an open batch in the Receipt Deposits process, you will not be able to create a new batch. If you would like to create a new batch, you can either delete the existing batch by clicking the Delete icon   on the batch tile, or you can reset the steps in the batch by returning to the first step of the process. All of the information in the batch will be overwritten. For example, if another user has selected the receipt deposit batches and has stopped at the Proof List step, that user’s work will be overwritten if you run the Select Batches step again.
• If there are no open batches in the process and you would like to create a new batch, click the Create New Batch button. This will open the New Batch view. The batch number, batch month, and batch year of the batch will not affect the invoices voided in the process. The batch information is for reference purposes only.

2     Open the Batch Overview page.

• The Batch Overview page provides a general overview of the selected batch.
• The left navigation menu displays all the steps in the Receipt Deposits process.
• In the main section you'll see information about batch steps that are currently processing, next available batch steps, and the last completed batch step.
  • Batch steps that are currently processing will display a blue indicator bar to alert you that the step has not yet completed.
  • Once the preceding batch step is complete, the next available batch steps will be enabled and you can select the next step you would like to run.
    • While some batch steps are optional, any batch step that includes the Required tag   must be completed before the batch is allowed to proceed through to the Commit step.
• The Batch Outputs section on the right will display any reports or exports that have already been generated in the Receipt Deposits process.

3     Select a committed Cash Receipts module batch to deposit into a bank account.

• Select Select Batches from the Receipt Deposits navigation menu. This will open the Select Batches page.
• The Receipt Deposits process is not a standard batch process. You can have only one batch open at a time. If the batch has progressed to a later point in the process (for example, the batches have been selected and the proof list has been generated) running the Select Batches step will overwrite the work that has already been completed in the process. Any deposits that were going to be created by the overwritten batch will not be created.
• The Select Batches page will display committed Cash Receipts batches that have not been processed in a Receipt Deposits process.
  • Cash Receipts batches that have already been processed in a Receipt Deposits palette will not display in the window.
  • The Journal Entry Date column will display the Post Date of the available Cash Receipts batches.
• Click the Bank Account field label to select a bank account from a list. This is the bank where the receipts will be deposited.
  • If the Cash Receipts module is set up to use multi-bank deposits this field will be disabled. The bank accounts associated with the cash accounts used on the receipt line items will be used as the bank on the deposit transaction.
  • Once a Bank Account is selected, the Account Balance will display below.
  • Bank accounts are created and maintained in the Bank Account Maintenance window (SS> Maintenance> Bank Account).
• The Deposit Date field is used to enter the deposit date of the Cash Receipts batch. The Deposit Date field will default to the current date.
  • When generating reports in the Bank Reconciliation module, the deposit date will be used to filter the transactions that display on the report. The deposit date will be used in the same way as the check date on a check.
• The Include receipt detail toggle will be enabled if the Cash Receipts module is set up to use multi-bank checking (CR> Utilities> Setup> Enable Multi-bank deposits toggle).
  • Check the Include receipt detail toggle if you would like to create a deposit for each receipt. If there are receipt line items that are associated with different bank accounts on a single receipt, those line items will create a separate deposit. For example, if there are two line items on a single receipt and each line item debits a GL account that is associated with a different bank account, the two line items will create separate deposits. If both line items debit the same GL account, the line items will be grouped onto the same receipt.
    • If you do not check this toggle, all of the receipts associated with the same bank account will be combined together to create a single deposit amount.
• Click the Selected toggle of each batch or individual receipt you would like to process in the Receipt Deposits batch.
  • If you are not using multi-bank checking, all of the selected receipts will be combined into a single deposit. For example, if you select three batches of $1500, $1000 and $2500, all three batches will be combined into a single deposit of $5000.
  • You can also select individual receipt deposits by pay method in order to process partial batch deposits. For example, you can select the cash and check receipts in order to process those deposits on a daily basis while saving the credit card receipts for a deposit when the credit card receipts are actually deposited to your bank account.
    • The Deposited column in the data grid will display a check mark next to any receipt that has already been processed through a receipt deposits batch. Those transactions will be disabled in order to prevent duplicate deposits.
  • The total displayed in the Selected Amount field at the top of the page will update each time a batch or individual receipt is selected.
• Click the Submit button once the batches have been selected.

4     Print the Proof List.

• Select Proof List from the Receipt Deposits navigation menu.
• There are no print options for the Receipt Deposits Proof List.
• Once the required report settings have been specified, click the Print button   to print your report.
• Click the options arrow on the right side of the Print button to see other print options.
  • Select Send PDF to Job Viewer to print the report in the default Springbrook format.
  • Select Send Excel to Job Viewer to export the report data to an Excel spreadsheet as unformatted data.
  • Select Send Excel (Formatted) to Job Viewer to export the report data to an Excel spreadsheet that includes much of the Springbrook formatting found on the printed version of the report.
• Click the Schedule icon next to the Print button in order to schedule the report to generate at a later date and time.
  • Enter a Date and Time to generate the report and click SUBMIT.
• The Proof List will display the bank account code and description selected in the Bank Account field on the Select Batches page. Each bank account included on the report will generate a line item on the report. The Deposit Date column will display the deposit date entered on the Select Batches page.

5     Commit the Receipt Deposits batch.

• Select Commit from the Receipt Deposits navigation menu. This will open Commit page.
• Click the Commit button to commit the Receipt Deposits batch.