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Dynamics 365 Community / Forums / Microsoft Dynamics NAV (Archived) / Deposit vs. Cash Receipts
Microsoft Dynamics NAV (Archived)

Deposit vs. Cash Receipts

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Posted on by Community Member

Hello,

Could you tell me what the difference is between a deposit versus a cash receipt?  I'm trying to understand the functionality of both. 

Our current process is to fill out a deposit book with the cheques to be deposited to the bank.  Some of the cheques belong to AR (the person doing the deposit doesn't always know the right customer).  Other cheques we are not sure what it is for so we book it to a suspense account in the GL.

I'm trying to find the NAV process to allow us to:

  • Record cash in a manner that enables us to perform bank reconciliations
  • Allows us to direct the payment to an AR customer.  It doesn't necessarily have to be applied.
  • Allows us to direct the payment to a GL account.

Thanks guys!

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  • Verified answer
    Hasitha Jayasuriya Profile Picture
    Hasitha Jayasuriya 645 on at

    Hi Memanual,

    Deposit: Could be a payment made to another person. This payment is done by "Depositing" funds to their Bank Account. It could also be a transfer from one source of funds to another fund repository. These sort of transactions are done through the Payment Journal

    Cash Receipt: Is when you receive cash from a customer. These sort of transactions can be done using the Cash Receipt Journal

    Regards,

    Hasitha J

    If my response answered your question, please take a minute to verify the answer as it would help other forum members

  • Community Member Profile Picture
    Community Member on at

    Thank you very much for your feedback.  It gave me the high-level overview of what I need to know.

    For my purpose, deposit will make more senses.

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