I'm unsure about the breakdown of a bank deposit, what should I do?

This article gives guidance for when you are not sure of the breakdown, origin or purpose of a bank deposit that appears on your bank statement in ExpensePlus.

It may be a direct deposit or it could be a cash or cheque deposit where the paying-in slip is missing and no 'Bank Deposit' entry has been completed in ExpensePlus.

Waiting to reconcile the bank deposit

If you have a bank deposit on your bank statement in ExpensePlus and you'r enot sure how to reconcile it, you can keep it unmatched in your bank matching screen until you decide how to proceed.

This doesn't present a problem.

However, any financial report that covers a date later than the date of this transaction will show the message below, stating that there are unreconciled transactions within or before the dates you are viewing.

Allocating the bank deposit

If you can't find out where the bank deposit came from, we suggest the following steps to reconcile the transaction and ensure the total figures in your financial reports are correct:

Step 1

Allocate the deposit as a 'Bank Deposit' - to do this, from the bank matching screen, click on the transaction and select 'Bank Deposit' from the transaction type drop-down screen. On the next screen, in the 'Other Income' section, select an income category where the amount is unlikely to make a material difference to your reporting.

Step 2

Once the deposit is matched, all reports will calculate accurate totals without error.

Step 3

In the future, if you retrospectively determine where the deposit should have been recorded, you can open the transaction and reallocate it.

To help you better understand the Bank Deposit module, please visit the module overview page here.